TARIFF TURBULENCE: LET’S GET BACK TO THE BASICS
Regardless of your political affiliation, declaring a global war against commerce using tariffs as the weapon of choice was probably not something most people envisioned. It only got more surreal when after trillions in value evaporated, we essentially got a “just kidding, let’s pause” tweet.
After years of inflation, culminating in the creation of the “egg index,” the shopper and, indeed, the public are exhausted. Retailers are battling for lower costs, while manufacturers continue to battle for share-of-shelf and aisle space to place products, displays, and marketing collateral. This turbulent climate is a bit more intense than the “macro headwinds” referenced multiple times in recent earnings calls.
For transparency, I’m an accountant, and as such, I try to measure things. I’m also old, so perhaps I have the wisdom to have seen, until this past week, most environments. My thoughts are: let’s get back to the basics. Systems that support business processes that are cost-effective and lean forward in technology. The “lean forward” approach is not a wholesale re-work; it’s conceptually the idea that as AI, machine learning, and digital technologies continue to mature, greater efficiencies can be harvested. These efficiencies will translate into measurable cost savings and sales growth.
As our economic environment settles, having the appropriate forward-looking platforms in place and ample capital on hand will be competitive advantages.
Contact a StayinFront sales rep to learn how you can Know More, Do More, and Sell More in every store visit.
