- Retailers are in a wait-and-see mode,
wanting to see what kind of downturn materializes
or how holiday sales come in.
But they need to act now,
and the key is to steer clear of quick fixes.
Instead, retailers should be working
to build structural advantage.
For example, that could be strategic investments
and digital capabilities
that help retailers optimize supply chain assets
and inventory placement to create an agile network.
Or it could be improving their employee value proposition
to potential workers
to help solve the issue of ongoing churn in the workforce.
Employees today care more than they did in the past
about factors such as flexible scheduling
and a convenient work location.
Companies that took these sort of structural actions
during downturns in 2001 and 2008 weathered the storm
and set themselves up for success over the next decade.