Five Retail Opportunities Amid Economic Uncertainty
With growing economic uncertainty driving renewed caution among US consumers, Retailers are facing make-or-break decisions. How they respond to revenue pressures and the financial headwinds disrupting their long- short- and near-term plans will determine whether they are positioned for success or destined to spend years course correcting.
In this report, the team at Coresight Research details the challenges Retailers are confronting in today’s business climate and shares five strategies they can leverage to mitigate financial precarity, hedge against receding demand, and position themselves for growth.
One of these strategies, as highlighted in a recent LinkedIn Live (https://lnkd.in/exjJ2yYU) with LogicSource’s David Pennino and Coresight Research’s Deborah Weinswig, is driving profit improvement through cost reductions on goods and services not-for-resale (GNFR). Their discussion affirms that a holistic approach to not-for-resale spend management can provide deep cost savings with impactful byproducts like increased operational efficiency, reduced waste, and faster, leaner execution capabilities.
To get a deeper understanding of how GNFR savings can provide retailers with a significant profitability boost, check out the full report at coresight.com, or view and download the full PDF below.
Five-Retail-Opportunities-Amid-Economic-Uncertainty-Jan-16-2023About LogicSource
The innovative leader in procurement services and technology, LogicSource is purpose-built to drive profit improvement, mitigate risk, and ensure supply chain continuity through better buying. LogicSource focuses exclusively on the sourcing and procurement of indirect goods and services, which typically represent 20% of an organization’s revenue and the area of greatest spending inefficiency. These include complex categories like marketing, packaging, corporate services, facilities, information technology, distribution and logistics and more, for which organizations often lack the capacity, focus and scale to achieve best-in-class buying. Unlike traditional advice-based consultants, LogicSource is a purpose-built buying utility with assets that are configurable to their clients’ needs and ready to deploy. By combining decades of sourcing and procurement expertise, superior market intelligence, cross-portfolio spending leverage, and their OneMarket® Source-to-Pay technology, LogicSource executes customized solutions that deliver immediate savings and sustainable value. For more information visit www.logicsource.com.