The Resilient Retail Game Plan Episode 87

Five Key Factors Impacting The Retail Industry Right Now

Podcast show notes

It’s been a strange few years and it doesn’t seem like we can expect an end to the unexpected any time soon.

Off the back of a pandemic, we’re now experiencing a rise in the cost of living, climbing inflation and even further instability created by ongoing geopolitical events.

It’s no surprise that all this is affecting consumers and retailers alike, and when things get tough and your sales slow down it’s sometimes hard to identify what the root cause might be, and all too easy to start feeling like you’re the problem. So, in today’s podcast, I want to assuage that fear and cover the five key factors impacting the retail industry right now: Consumer confidence, rising prices, the evolution of online, conscious consumerism and the growth of retention over acquisition.

In this episode, I discuss how we can strengthen consumer confidence through more empathetic messaging, and how revisiting the ‘value triangle’ is integral to justifying the purchase of your products to nervous customers. I also touch on the growing importance of being a value-driven business that not only does no harm but does good and why leveraging online tools and upping your engagement with your warm audience should keep you and your business in good stead through tougher times.

Use the code: 10podcast to get £10 off your first month when joining The Resilient Retail Club.

To check out the presentation mentioned in this episode, head to https://www.resilientretailclub.com/grow2022

Interested in being a guest or sponsor of The Resilient Retail Game Plan?

Drop us an email to let us know why you think you’d be a great fit for our audience of small businesses and independent retail brands

Get more on the mailing list

Heaps of small business retail advice for your inbox

Sign up the The Resilient Retail Club mailing list for totally free advice and business help, the occasional digital download, updates from our podcast and promotions for indie retail brands

More from The Resilient Retail Game Plan

Dive into another episode of our small business podcast

The Resilient Retail Club - small business experts
Episode 149

10 Minute Small Business Tips: Creating A Product Your Customer Really Wants

Episode 148

Small Business Update – Using Artificial Intelligence In Your Creative Product Business

The Resilient Retail Club - Small business experts - sales
Episode 147

7 Vital Ways To Avoid Giving Up On Slow Sales Days

The Resilient Game Plan Podcast - Hannah Burn, small business founder
Episode 146

From Side Hustle To Full Time With Hannah Burn

The Resilient Retail Club - Small Business Experts
Episode 145

A Resilient Retail Reflection: Ten Highlights From The Last Three Years

The Resilient Retail Club - Small business experts - Father's Day planning
Episode 144

Making The Most Of Father’s Day In Your Business

News you can use

Join The Resilient Retail Club mailing list to receive The Weekly Sales Review, jam-packed full of useful information, events and expert advice for indie retailers, online sellers, Ecommerce brands and independent small businesses