Overcome 2022’s Merchandising Challenges by Taking Control of Your Product
Between inventory issues, supply chain disruptions, and staffing vacancies, 2022 presents many merchandising challenges for brands. The good news is that, with the right support, this holiday season can still be a success.
Here’s what you need to know.
2022 Merchandising Challenges
The number of job vacancies in retail continues to be stubbornly high. According to Statistics Canada, there were 112,700 job vacancies in retail trade for Q2. This long-term trend shows little indication of resolving itself any time soon.
And yet, in one recent survey, 87 per cent of retailers said worsening supply chains was the top retailing risk followed by job vacancies and inflation at 65 per cent each.
Moreover, 86 per cent said they expected customers to prioritize stock availability over loyalty. This re-affirms a simple truth about retail: if your customers can’t find your products they won’t buy them.
In-store retail sales are expected to increase by nearly 8 per cent this season compared to last year. Your customers are coming, so you must ensure you’re ready for them.
Solutions for Merchandising Challenges
Retailers are looking at several long-term solutions for these merchandising challenges.
According to a report from Deloitte, digitalization is top of mind for many in the industry. Artificial intelligence, for instance, will be key to improving supply chain efficiency and inventory management. Advanced analytics powered by machine learning will also help improve demand forecasting.
Additionally, technologies such as self-checkout, autonomous vehicles, and drones will help alleviate the pressure from job vacancies.
However, while these are promising long-term solutions, brands and retailers need short-term solutions as well to ensure this holiday season is successful. Having qualified and knowledgeable people to optimize that last mile of sales—getting your product into your customer’s hands—will be the difference maker this holiday season.
We Can Help You Overcome Any Merchandising Challenges
You invest a lot of time, money, and effort into your products. But if they’re not in the right place at the right time with the right message, all that hard work can go to waste. Marketsupport offers a national field force of over 500 employees across the country who can be wherever you need them to be.
We have solutions for merchandising challenges such as:
- Display set-up
- POS install
- Planogram implementation
- Stickering
- Recalls
- And more
Call 1-877-421-5081 or visit our website today to book a consultation.
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