Reviving retail: Strategies for growth in 2009
Retailers throughout the country and across nearly all sectors experienced their biggest declines in decades at the end of 2008, and continue to suffer declining sales in 2009. The economic downturn has hit the retail sector hard. But with the challenges, there also are distinct opportunities.
Grant Thornton LLP's newest white paper, Reviving retail: Strategies for growth in 2009, highlights five key trends transforming the retail sector and offers tips for capitalizing on these areas of growth.
The trends include:
- Buyers are choosing clicks over bricks.
- Private-labels are gaining ground over name brands.
- Going green is bringing in the green.
- A loyal customer is your best customer.
- Improving processes lowers costs and boost customer satisfaction.
Challenging economic times test the mettle of retailers, but they also present real opportunities for companies with foresight and discipline. Retailers that position themselves effectively will not only survive now, but also will thrive when the economy rebounds. Learn how you can act now to maximize your opportunities and position your company for future growth and profitability.