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"While March's footfall figures are up – a welcome boost for the challenging retail market – the numbers aren't as high as one might expect, given that the Easter trading period took place earlier than last year. The backdrop of poor weather, geopolitical conflict and inflationary pressures likely contributed to general consumer malaise, and the sudden spike in energy and fuel costs will have reduced discretionary spending.
"Retailers should now be thinking ahead as the seasonal boost comes to a close. While the tough market conditions continue, grocers in particular will be anticipating the impact of reduced fertiliser exports. Although it's still too early to see the long-term effects on agriculture – and therefore food production costs and yields – now is the time to forward plan. The most successful retail leaders will think creatively about future-proofing their organisations in the face of disruption: driving demand, winning market share and differentiating from the competition. Retailers' biggest risk right now is paralysis."
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