Brexit plans, forecasting infringements, footfall shortfall
As Brexit talks advance, the food industry came under fire and retail footfall slumps, it’s been a busy week for the newspapers. Supply chain bloggers, Sam Phipps and Jessie Cooper, investigate the hottest topics in the press and assess their impact on the supply chain.
Brexit: What’s the plan?
Given that the Queen gave the go ahead for Brexit this week, it seems article 50 could be triggered imminently. Yet, according to reports from the Guardian, the Government is yet to conduct a full assessment into what will happen if the UK leaves the EU without a deal in place.
Without a solid deal in place, UK based businesses that rely on European suppliers could soon face hefty tariffs and crippling quotas. Consequently, when you consider the potential upheaval that could result from leaving the EU, this has no doubt left many feeling nervous.
With this in mind, has your business already started to analyse the potential impact of Brexit? If so, what steps have been put in place to mitigate any disruption?
Fresh accusations of forecasting infringements
Last month the food industry was hit with a major crisis as bad weather in Spain decimated supplies of lettuces, courgettes and peppers. While supplies of fresh produce have now recovered, several supermarkets are now under fire after accusations that they failed to provide suppliers with transparency.
As retailers sought alternative sources in a bid to keep prices down amidst the shortages, many suppliers were left in the lurch with some even having to compensate retailers back. Given that this is not the first time the industry has come under the spotlight for such issues, what can businesses do to communicate their inventory requirements with greater clarity?
Where have all the shoppers gone?
UK high streets saw the biggest month-on-month footfall drop in 13 years in February, along with a similar drop in retail sales. Figures from the Ipsos Retail Performance’s Retail Traffic Index (RTI) indicate that footfall fell by a staggering 12.5% compared to January and by 6.5 percent compared to 2016.
While falling footfall seems to be leaving many retailers feeling a little blue, it seems that online sales are still buoyant. In fact, research from Capgemini suggests that online retail sales were up +12% year-on-year in January.
Given discrepancy between brick ‘n’ clicks sales performance, what can retailers do to maximise the value of all their operations: both online and on the high street?