Get Even More Visitors To Your Blog, Upgrade To A Business Listing >>

The Squeeze

Tags: squeeze profit

There is only one B word I can think of to describe ‘leaving’ Europe but for many Brexit seems to be an unfounded fear right now. In retail it seems that the big Squeeze is starting to rear its head. 
A weak pound has lead to the price of our wholesale purchases increasing by 3-5% across the board without exception. 
Small price increases can be absorbed but those of us who have to watch the bottom line on a daily basis have to make a decision? In recession and times of financial uncertainty it is proven that customers buy better quality and expect better service. 

Couple these two bits of knowledge together and you’re left with small businesses and SMEs who have to balance on the high wire; offer better service, set higher standards but do it for less margin. 
I guess this is where our sleepless nights come to the fore! For me, if we do it right then we will impress and retain custom. 
But there will always be that one customer who is looking for price and price alone. In these times I have to remind myself that profit alone is the only way we can survive as a strong business. Chasing a deal for the sake of the turnover turns us into busy fools..
‘Turnover is vanity, Profit is sanity.’




This post first appeared on The TeaBoy Director, please read the originial post: here

Share the post

The Squeeze

×

Subscribe to The Teaboy Director

Get updates delivered right to your inbox!

Thank you for your subscription

×