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HOW SMALL RETAILERS CAN TRANSFORM CHALLENGES INTO OPPORTUNITIES FOR GROWTH
While the majority of small businesses face obstacles in managing their businesses , customers and employees , retailers face unique challenges that have the potential to reduce revenue or if adequately addressed , can be utilised to boost growth . Jon Boland , General Manager at Clover UK , outlines how retailers can face these challenges and optimise the way they manage their business .
HE FAST-PACED and everevolving nature of the retail
T sector provides small retailers with unique obstacles . Managing operations alongside overseeing employees , products and services is a challenge faced by all and one which has the potential to reduce revenue and negatively impact customer loyalty if not properly managed .
Despite this , these same issues can present opportunities for small retailers to upgrade their current processes and optimise the way they manage their business . If addressed head on , they can utilise them to promote growth .
Operational inefficiencies
Operational inefficiency – in managing inventory , staff or supply chain – can have a particular impact on the often-tight profit margins of small retailers . With the recent increases in the cost of goods , transportation and utilities , small retailers must properly manage their operational costs just to stay
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