Challenges Facing the Retail Industry

retail industryThe consumer packaged goods industry is an ever-moving, ever-changing mechanism. Adaptation is key, and with technological developments and rising consumer demands, it can be hard to keep up.

That being said, these changes are not the only challenges facing the retail industry in 2015. Here is a list of some of the others. And of course we are not just going to give you the issues – we also have a few solutions to help make these a little less difficult to face.

Problem: Employee turnover. This is a problem every retailer faces – it is a major problem in the retail industry – and often there is little that can be done to stop it. When an employee enters, then leaves your company, this can create problems for your human resource department, and means a loss of time and resources spent continually hiring and training new employees.

Solution: 3rd party people support. A company that can provide short notice employees with training and experience can help you mitigate those costs and ensure excellent service and assistance.

Problem: Auditing. For brands located at retail, keeping on top of what is going on on the store floor can be challenging. This is why auditing is another challenge that faces the retail industry on a regular basis.

Solution: You can’t be everywhere at once, but a merchandising company that offers this service can. Not only will this provide you with up-to-date data about competitors’ price points, you can also ensure that customer satisfaction is high – and if not, amendments can be made to improve the situation.

Problem: Allery alert/product recalls. Improper labelling, errors with packaging, issues with ingredients; these are all accompanied by costs for remedy and time and resources spent. They can also mean time with empty space on the shelf, which is never a good thing in retail.

Solution: Emergency response services for retail. When you are made aware of a product recall, whatever the reason, manage the outcome to ensure a positive result. If possible, consider bringing in a team to fix the problem on the spot, rather than worrying about shipping product back to the warehouse. This saves money and time and also keeps the empty space to a minimum.

When issues arise, don’t stress. Let Marketsupport Canada help you overcome these challenges facing the retail industry. We have the knowledge and experience to help you save money an increase efficiency. Call us today at 1-877-421-5081.

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