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THE WEEK IN RETAIL ISSUE 45
EDITOR’S COMMENT
THERE’S NEVER BEEN A BETTER TIME TO INVEST
The local retailing industry finds itself in a very unusual position these days. With a year’s worth of chart-topping sales and profits under its belt and the prospect of the end of Covid, most retailers will find themselves facing a quandary. What to do with the new reserves? Stick or twist? Pocket the cash or invest?
It’s not an easy problem to tackle. With so many tough years behind the sector, it’s obviously tempting to enjoy the benefits of a huge year. A new set of wheels maybe, or a nice wee holiday for the family once that sort of thing is allowed again.
But the problem, as always, is a lack of clarity. If and when Covid does meaningfully end, what will the world look like?
Will a portion of the weekly elevated sales be retained? Or will it go back to exactly the way it was before?
Your thoughts on this matter will have a massive impact on the confidence you have in investing in your business.
But one thing is for sure: the world will be a changed place later in 2021 and ensuring that you are well as prepared for that New World Order as possible can only benefit you and your long term prospects.
The rash of major refits seen across the sector in recent months suggests that many retailers are taking this longer term view – and are perhaps spending some of their hard-earned profits rather than handing them over to the taxman.
There are many factors that could be interpreted to suggest that there has never been a better time to invest in your store and your business. Sitting tight and hoping for the best is never a sound strategy. Act now. Be bold. Build your own future.
