By Cally Russell Dec 30, 2019, 12:44pm Contributor Retail – I write about Europe’s retail industry and all things tech startup.
You would find it hard to find anyone that would argue that 2019 was a great year for the retail industry as a whole. This year we saw companies such as Forever 21 and Barneys undertake bankruptcy proceedings in the US and in the UK Jack Wills and Karen Millen were snapped up just before they went into administration by bigger groups. In the end according to Coresight Research, 9,300 stories will have closed their doors in 2019 in the US alone.
It’s not all doom and gloom though, some companies saw fantastic performance in 2019 – wither they’re emerging brands like AllBirds and Boohoo Group or global giants like Zara and Amazon.
To avoid a repeat of the retail disasters of 2019, what can others learn from these businesses to kick start growth in 2020 and beyond?
Stock Management: The starting point for success in retail is the right product, for the right customer at the right time – good stock management! Sadly though for many retail companies in 2019 stock management wasn’t the basis for success, but rather the basis of failure. (READ MORE)
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