The US restaurant market is mature and highly competitive in nature. Although, restaurant industry sales were expected to reach $783 billion in 2016, the industry only witnessed a moderate rate of growth in sales. Despite, Restaurant Performance Index, advanced in September 2016, Restaurant operators will face numerous headwinds in the 2017 business ecosystem. From legislative and regulatory pressures and moderate economic growth, to labor cost increases and cyber security, both new and old issues will challenge profit margins and muddle operating procedures. Continue reading Recipes for Success for Restaurant Operators in 2017
Is your retail business ready for the future?
The retail industry in the U.S. has faced more disruptive changes over the last decade than over the entire last century. As the retail landscape for US continues to evolve, it seems that the industry is in the middle of an unprecedented transformation. However, with market disruption comes opportunities and those retailers who can be nimble, adapt, and innovate in the face of these changes will be better positioned for success than those who cannot. As a result, traditional brick-and-mortar stores are now reinventing themselves by investing in the latest technologies to streamline their operations, integrate their billing and payment systems, inventory tracking and monitoring systems. Furthermore, challenges such as evolving demographics, rapidly-evolving customer preferences and economic volatility are also pushing retail businesses to cut costs, find new ways to offer more value, and keep pace with today’s demanding consumer. Continue reading The Future of Retailing – Key Trends Transforming the Retail Landscape