What’s in store? | Your 3-point survival guide for Christmas and beyond
In the light of all the economic uncertainty and continued subdued consumer confidence, retailers need to be proactive, ensuring there is sufficient resource to address these three key priorities and actively manage risks through the downturn for a strong start to 2012.
Delayed communication of underperformance can damage confidence amongst stakeholders which impacts recovery. As cash is king, it’s more important than ever to protect liquidity ensuring that working capital is managed effectively. Managing property costs has become the last line of defence as the ongoing march towards online shopping exacerbates the need to drastically reduce property portfolios.
Don’t wait to see what happens come the end of the Christmas period – It helps to build confidence among stakeholders by showing that you are well-prepared for the unexpected. Take a hands-on approach to cash management - which is a must - and performance should be carefully tracked against financial targets. Ensure that property strategy is linked to the wider business strategy.
