Round Up: Tips for staying on top in 2014; Gloria Jeans sold; IGA says G’day
Considering how tough many retailers found 2013, reporting sluggish sales, reduced foot traffic and tighter margins, it is particularly important to plan out and strategise for the 2014.
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What the year ahead brings is hard to predict. Russell Zimmerman for the Australian Retailers Association says it will start slowly and then pick-up towards the end, while Kim Hutchinson from RSM Bird Cameron says it will be “an interesting yet challenging year” for local businesses.
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Some influencing factors are largely out of retailers’ hands, like exchange rate fluctuations, the housing market, employment and government regulation, but plenty of things are in the control of owners and management.
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Hutchinson says astute businesses that target growth areas with judicious investment can prosper during 2014.
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“In the current economic environment, many businesses are confronted with the dilemma of whether to invest for growth or cut costs to maintain profits,” he said. “Businesses need to have a balanced approach. Retail Biz – Read more…
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