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Good News, Bad News Ahead for Retail By Ritchie Sayner Advanced Retail Strategies First the good news … at least as I write this, business has bounced
hiring-post-pandemic). Not only will you find worthwhile ideas from
back nicely for most, especially in categories where sufficient product
this interview, but you will be able to gain access to the webinar
is available. We saw many cases where July sales actually exceeded
entitled, Talent Acquisition: Finding and Attracting the Right Talent
2019 levels. Couple the sales increases with lower inventory levels
for your Retail Business.
and the result is faster turn and better cash flow.
Certainly, this fall and perhaps well into 2022 and beyond, the retail
Now for the bad news … the aftermath of COVID-19 has created
landscape will endure its share of stock outs and supply chain
many challenges for the sporting goods industry, and retail in general,
interruptions. Whether caused by lower productivity at U.S. ports,
to deal with in the coming months. In no particular order, trouble
backups at ports in China, driver shortages here in the U.S., factory
spots include finding good help (or in some cases finding any help),
shutdowns, union issues, or lack of anticipation of retail demand at
rising prices because of inflation, stock shortages, supply chain
the wholesale level, the result is the same, anemic assortments or
interruptions and rises in COVID cases in some areas of the country.
empty shelves for products your customers want to buy. According
When it comes to finding good people, much has been extensively covered on this topic by Management One, the merchandise planning company I am affiliated with. In the interest of brevity and avoiding duplication, I will attach a link to an interview that Marc Weiss, Management One CEO, had with Kim Pagano of Publik Image ( https://www.management-one.com/blog/recruitment-and8 | NSGA NOW ®
>> September/October 2021
to a well-respected equipment leasing consultant I have known for several years, the entire supply dilemma is analogous to a wave starting small at the beginning and getting bigger and bigger until it finally crashes into shore. According to this source, these supply chain disruptions will most likely not smooth out until Q1 or Q2 of 2022 at the earliest.
