Challenges faced by the Retail Sector and Solution proposed by CenterServ
The wholesale/retail market is bombarded with several challenges. The major one is the gradual decline in foot traffic to brick and mortar stores. With the increasing use of smart-phones and online transactions, retailers are forced to make their online presence felt. For the foot traffic, they have to maintain physical stores as well while proactively making future-proof investments. Secondly, the ecommerce market has cluttered the pricing structure of the retail industry. To be in competition, retailers have to find ways to inexpensively deliver goods and services to endusers. They have to leverage resources to the core to make margins.
Another challenge for retailers is the tech-savvy nature of consumers. With the online and mobile revolution, consumers are well educated about products, features and prices of goods and services. Retail marketers have to be on their toes to provide high quality products at the best price.