Faced with a historic ebb in consumer spending and awash with inventory, the majority of retailers are struggling in the current volatile economy. What should retailers do?
Building on Kurt Salmon Associates experience with industry and private equity leaders, we believe retailers should focus on five strategic levers this year:
- Creating a value orientation
- Maintaining brand integrity
- Attacking weak competitors locally
- Managing costs aggressively
- Managing liquidity
In our recent report, Weathering the Perfect Storm, we detail these five themes as they relate to consumer goods. Our accompanying piece, Turning the Tables, explores how the same themes apply to the foodservice industry.