By: Amy Hanson – Business Alliance Specialist, One Step Retail Solutions
While the overall economic atmosphere is still a bit of a mixed bag and the economy is not yet “flourishing”, statistics indicate that consumers are becoming increasingly confident and many industries are stably picking up. Retail sales are projected to increase 6% in 2012 and the projections are also looking positive for the coming holiday season.
On the business front, most are remaining cautious and it is projected to remain so through the remainder of 2012.
The question should be asked, (from a business stand point) could it be time to poke our heads out of our tortoise shells and start investing in the future of our business? Is it safe? More interestingly, could the years of cutting costs and minimal investments in your business’ future be one of the final chains that shackle you to the economic crisis?
While you most certainly need to pay rent, pay your staff and ensure the electricity is running – it may not seem as pressing to ensure that you are taking appropriate measures to avoid tripping over your own feet, including appropriate marketing of your products and keeping your technology resources up to date.
Years of pinching pennies have left many businesses in the virtual dark ages technologically. In retail the shift has become “agility” and minimizing unnecessary man hours with futuristic point of sale systems and retail management systems that are surprisingly cost effective. Marketing has shifted to a much more personal approach; customers are now letting retailers into their “personal space” through social media and early adapters have come into their own solely using this inexpensive and rapidly expanding resource.
So I ask you, how are you investing in the future of your company and is it sufficient to pull you through the dust and into a prosperous future?
Retail projections statistics source: http://www.kiplinger.com/businessresource/economic_outlook/