A decade may have passed since the most significant global financial downturn in recent history, but the British high street still bears the scars of a folding economy, with many famous stores permanently shutting their doors and others struggling to hold on.
Positive in-store customer experience is at the heart of any brick-and-mortar business. In an exceptionally competitive high street climate, it’s easy to get swept up in pricey advertising campaigns to try and outshine your neighbours and draw customers in.
There are two key ways to generate more cash from a retail store: increase income or make efficiency savings.
Data can have an important role to play in informing both of these options. More accurate data leads to better, more efficient decision making and also contributes to identifying opportunities for expanding income. So, if you’re looking to squeeze more money from your retail store, data is going to be the first step.
Every successful business has solid management to lead it. Without this, it’s often difficult for staff to be happy, productive and committed to what they do. However, for those stepping up to a management role it can be quite a challenge to do it well – but it is possible.
Efficiency in the workplace opens the door to increased productivity and better end of year figures – as well as happier staff. However, there is no set formula for how to increase efficiency in the workplace. Many businesses opt to add staff to an existing workforce but this doesn’t necessarily achieve the desired results – in fact, sometimes it can exacerbate efficiency issues.
If you’re keen to increase productivity within your business, the right response isn’t always going to revolve around recruitment. In fact, sometimes taking on more staff if you already have productivity issues can be problematic for a business.