60 million customers spend an amazing £340 billion a year with UK retailers. Business has never been better - yet at the same time, there are challenging signs. Retail growth has slowed to just 2% PA. Costs are rising, fuelled by the National Living Wage, Apprenticeship Levy and Business Rates.
The BRC estimates that by 2020, UK retailers will be hit with a £14 billion bill - 20% of total profits. By 2025, a full 900,000 retail jobs will be lost in the UK.
Meanwhile, omni-channel is bringing radical change to UK retail operations. Digital transparency is deflating prices, lowering profits and causing changes in everything from supply chains to staffing. In this turbulent world, retailers are looking for ways to weather the storm. They’re looking for supply chain efficiencies; they’re looking for labour scheduling improvement, linked with higher skilling and flexibility of staff; they’re looking for expert help in keeping ahead of changes.
Kronos has a special interest in staffing and service. In this briefing, we’d like to share a few thoughts about the changes coming by 2020 – and then we’d like to hear your thoughts as well.