The Guardian has reported on research from Retail Economics and Metapack today; saying – British shoppers likely to spend £4.4bn less on non-essentials during Christmas period.
Given the current economic climate, it’s not surprising that consumers are tightening their belts. It isn’t just consumers that are feeling the pinch either; the costs of energy, fuel, and labour are rising for retailers, too.
As a fulfilment business, we’re in constant conversation with our clients on how they can optimise their operations to cut costs – particularly around inventory management – while still offering the same service and value that their customers have come to expect.
It’s no longer a choice; businesses will need to adapt if they want to stay competitive this winter.