Once the dust had settled from a strong holiday sales season, it was back to reality in the retail sector. For many retail enterprises, that means finding creative ways to counter the elevated risks they face as a result of now all-too-familiar forces like inflation, a persistent labor shortage, cybercrime and ongoing supply chain constraints.
As Forrester’s Brendan Witcher wrote in his retail outlook for 2023, retail organizations aren’t powerless in confronting these forces. Rather, this year presents “new opportunities for incremental revenue, transforming their business models to capture additional market share, and implementing cost-saving innovations for operational survival.”
