Follow @PoliticsIE
 
 
 
Page 1 of 10 12345 ... LastLast
Results 1 to 10 of 92

Thread: Survival of retail

  1. #1
    Politics.ie Member hammer's Avatar
    Join Date
    Jul 2009
    Location
    Olympic Stadium
    Posts
    58,469
    Mentioned
    1 Post(s)

    Default Survival of retail

    OK, for starters the Government will do nothing

    Rates - 2%
    Light & heat - unchanged
    Rent - no legislation
    Insurance - increasing
    No subsidy to protect jobs
    CSO reports coming out your ears
    Vat cut by .5% in a depression


    Ideas
    Cut staff
    Cut hours - open later - Arnotts etc now 10am
    Cut wages - 15% minimum
    Cut weekend openings or stay closed monday / tuesday
    Start crying to your landlord
    Convert bank overdraft to term loan
    Buy better - source product in UK
    Ask for greater discounts from suppliers
    Carry recessionary lines
    Discount Discount

  2. #2

    Default

    Carry less stock
    Improve on logistics platform to reduce lead time
    Ensure individual product profitability is understood
    Delete obsolete lines quickly and hold no stock
    Start understanding what the customer wants NOT what you want to give them.

  3. #3
    Politics.ie Member
    Join Date
    Feb 2008
    Posts
    273
    Mentioned
    0 Post(s)

    Default

    A lot of retailers are plain running out of cash. They've been taking no wages themselves in the hope of keeping things going. Christmas was a whitewash, January even worse. They'll be a whole swathe of them out of business over the next two months as they give up the ghost.


    Councils and the Government have pushed and driven prices to their height. Now thanks to FF incompetence and Greens selling out, the most anyone in the government can muster is to freeze costs. With deflation factored in, it means business costs are actually up! Thank your local FF TD for driving costs to their most expensive and keeping them their while you get nailed to the wall.


    If a business is on the breadline and running out of cash, there's very slim hope it'll make it through the next 12 months. The only other ideas I've heard regarding making retail work is cutting down on any and all staff perks, giving staff the option of closing business or them working longer with an agreement to make it up to them when things turnaround, and literally selling off stock at cost price - at least the debt won't be hanging over the business.

  4. #4
    Politics.ie Member hammer's Avatar
    Join Date
    Jul 2009
    Location
    Olympic Stadium
    Posts
    58,469
    Mentioned
    1 Post(s)

    Default

    If this collapse keeps up the result will be that paye/prsi & vat will go to pay down bank debt.

  5. #5
    Politics.ie Member
    Join Date
    Feb 2008
    Posts
    273
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by hammer View Post
    If this collapse keeps up the result will be that paye/prsi & vat will go to pay down bank debt.
    It already is. Retailers are robbing peter to pay paul. It's only a matter of time until the last one robbed comes after them through the courts - the tax man.

    Besides, if FF is using taxpayer funds to throw to their banking buddies and builders, whats wrong with citizens saving them all that nasty corrupt scama worries and just doing it directly themselves - pay off their own bank debts? FF should be thanking them!

  6. #6
    Politics.ie Member Hillmanhunter1's Avatar
    Join Date
    Jan 2009
    Location
    Far far away
    Posts
    1,615
    Mentioned
    0 Post(s)

    Default

    Retail is certainly having a horrid time. Many will go out of business, but there are steps that can be taken to improve the situation.

    Firstly, retailers need to take a leaf out of the Union's book, they need to have a rent strike, whole streets of traders have to refuse to pay the absurd rents that pension funds (mainly) have been able to charge during the Celtic Tiger years. Talking specifically about Dublin, there's no justification for the level of rents in city and shopping center locations. Dublin is a peripheral European city with about 1million inhabitants. Its not Paris, New York or London.

    Secondly, they need to cut margins, and cut them pretty sharply. Over the past few years the prices of goods in our shops have been way ahead of what they ought be by comparison to other countries - even taking transportation costs, labour costs and taxes etc. into account. Retaillers have been making a very good living indeed in recent years, however, running one or two small shops doesn't make you a master of the universe!

    Thirdly, retailers need to offer a better service. By that I mean that shop workers need to be polite and understand how to make a sale. They should also know all about the products that they sell. Nothing puts potential buyers off more than insolence and indifference.
    UK exports to EU = 48%. EU exports to U.K. = 8 %. RoI exports to UK = 14%. RoI exports to EU = 50%.

  7. #7
    Politics.ie Member
    Join Date
    Apr 2009
    Location
    hills of donegal
    Posts
    1,247
    Mentioned
    0 Post(s)

  8. #8
    Politics.ie Member
    Join Date
    Jan 2007
    Location
    Dublin
    Posts
    817
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by hammer View Post
    Cut wages - 15% minimum
    Start crying to your landlord
    Buy better - source product in UK
    Ask for greater discounts from suppliers
    Discount Discount
    Only thing I'd add is I'd do more than cry to the landlord.
    The future saviour of the Irish Economy: Charles Darwin

  9. #9
    Politics.ie Member libertarian-right's Avatar
    Join Date
    Apr 2007
    Location
    Dublin Mid West
    Posts
    2,487
    Mentioned
    0 Post(s)

    Default

    All the retailers need to pull together and start a rent strike.

  10. #10
    Politics.ie Member
    Join Date
    Apr 2009
    Location
    hills of donegal
    Posts
    1,247
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by odie1kanobe View Post
    Carry less stock
    Improve on logistics platform to reduce lead time
    Ensure individual product profitability is understood
    Delete obsolete lines quickly and hold no stock
    Start understanding what the customer wants NOT what you want to give them.
    a lot of retailers are already doing this,one of the big issues that the wholesalers want cash up front,small shops are carrying just basic stock, and a good few seem to have family members covering shifts, the costs that the government control are the main problem.

Page 1 of 10 12345 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •