With 2023 set to be in recession for many countries across the globe, it’s clear that retailers will be facing another difficult year.


The key is a blend of careful internal management of stock and range to keep a tight control on operational profit. From a sales perspective, it is vital that retailers understand that their customers want value for money (which may not always mean buying the cheapest item), to shop in a more interactive way, and a community experience that helps them feel part of something bigger.


Despite an overall decrease in discretionary spending, it’s important to remember that customers are still buying. The onus, as has always been true in the retail industry, is on retailers showing what they want to see, when they want to see it.


Original Article Link is found here: www.forbes.com