Retailers That Plan for a Market Downturn Are More Likely to Thrive
Retailers today can be categorized into survivors and thrivers, and more than half (54 percent) of traditional retailers are only surviving — breaking even, according to BDO’s Retail Rationalized Survey of 300 C-suite executives. Thrivers, by comparison, are profitable, making smart bets and focused on standing out from the competition. As 2019 unfolds, retailers will be trying to differentiate from the competition by improving customer experience, investing in digital technology, and even partnering with startups. But the proactive thrivers will be better positioned to navigate the much-anticipated market correction.