Retailers that do not adapt to the needs of their customers may not survive the recession.
That is according to the British Retail Consortium (BRC) which has claimed it is incredibly important for shop owners to look at what goods sell, which ones don't and make necessary stock changes.
Richard Dodds, head of media campaigns at the BRC, said that customers are now playing a greater emphasis on value for money.
"If you actually reviewed what long standing successful retailers have done you can see how, they have not lurched from one position and suddenly gone to another drastically different position, they have just gradually changed," Mr Dodds said.
Such advice may be key for those in supply chains looking to cut excess costs, as goods that don't sell well may not be worth investing in.
"Successful retailers are constantly focussed on accessing what those things are and adapting what they're offering to customers to match that," Mr Dodds concluded.
According to uSwitch.com, many Brits are now willing to barter, with 73 per cent of people questioned in a survey suggesting they would haggle for a better deal.
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