Seven out of ten retailers predict higher revenues in 2010. But that’s not all they’re predicting, according to a recent survey.
The survey, conducted by global marketing giant KPMG, also revealed:
- 49% of top-level retail execs believe their industry is in a position to bounce back much quicker than most other sectors out there
- 84% believe the job market will improve steadily
- 66% see tremendous possibility for higher profitability
- 52% believe economic stability is on the way, and
- Less than 15% predict more layoffs in the year ahead.
With all this free-flowing optimism swirling about, now’s the time to develop strategies for targeting the retail sector in the year ahead.
What’s the best strategy for doing so?
Here’s what retail prospects will respond to the most, according to the
KPMG survey:
- 54% are interested in growth investment strategies
- 46% want new ways to cut costs
- 55% are interested in solutions that restore consumer confidence
- 51% want to branch out and tap into new revenue streams, and
- 46% are looking for ways to respond to customers’ changing needs.
These are the areas management needs to focus on if they’re interested in capitalizing on an industry that’s suddenly open for business again.
Do you agree that 2010 will be a better year for business? Or do you think we’re in for more of the same? Feel free to share your thoughts in the comments section below.
Source: “Survey: 70% of Retailers Optimistic for 2010,” by Stacy Straczynski, Sales and Marketing Management Magazine, 8/19/09
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Tags: 2010, economy, execs, industry, marketing, research, retail, sales, sector, study, survey
September 16th, 2009 at 1:55 pm
I fore see growth if we can be sure of the tax and regulatory environment we are to working in. If we end up with higher taxes, higher cost due to government mandates ie. healthcare, mandatory leave, unionization etc. it could stop the growth in it’s tracks and lead to higher inflation, interest rates and a return to recession.
October 17th, 2009 at 3:48 pm
Hmm. I foresee continuing layoffs, increasing unemployment, falling property values and deepening deflation, regardless of whether the recession is over.
I do not see a recovery in retail or any other major business sectors – certainly not back to the levels of 2005-2007.
The new normal is that margins will be under continuing pressure, consumers will hold tight to the $$ and spending will be on basics and inexpensive products.
We are in a 10+ year recovery ala Japan and there’s not a lot we can do about it as the die have been cast at the national level to set us on this path.