Retail Detail with Tony Hines
What is it like to be a retailer?
Many are small businesses – Pop and Mom stores but others are some of the biggest businesses in the world. Leading retailers manage many product categories and lines. They deal with brands and they have their own brands too. Keeping costs low and maintaining margins is critical. This is where sourcing, procurement and operations determine the efficiency of the business and also the ability to satisfy customer demand.
In this epsiode we look at the evidence and at some of the stories behind the store front. People and business cultures determine success or failure but they have to operate within all the political, economic, social change and technological developments that shape the business world.
Statistical evidence both in the UK and USA provide some understanding of the challenges faced by retailers. We can also see emerging trends which reveal what the future might look like.