Retail challenges

Nearly a third of retail leaders (28%) are worried about the cost they’ll incur running their stores in 2023 as they look to combat the energy crisis. New data from workforce management technology company Fourth suggests that running costs, the impact of having to raise prices to tackle inflation (31%), and supply chain issues (61%) are the most significant challenges facing retailers in the year ahead.

With the energy crisis showing no signs of dimming, retailers will be contemplating at the start of this year how best to protect the business and their staff’s financial well-being in the face of adversity. With this in mind, it’s no surprise that a large majority of retail employees (81%) believe that being able to access wages as they are earned, rather than waiting for payday, would help reduce financial stress in 2023. Despite staff’s preference for earned wage access schemes, only 13% of employees currently have access to them.

www.b-p-a.org an annual policy running for years but have never really checked the small print. Like Adam Davies my trip was also more than 30 days so I would not have been covered if the accident happened further into my trip. Luckily it was within the 30 day time frame. In addition, after the accident I was asked to provide documentation which I didn’t have including a motorcycle hire agreement (something rarely provided in Vietnam). I was also advised that the insurance company would not honour hospital expenses unless I provided a detailed medical report prior to treatment. Both proved impossible – when you are in a Vietnamese A&E department where no-one speaks English, its hard enough to understand what is happening, let alone trying to explain that you need a medical report before they can treat you. Fortunately, after numerous telephone calls to the insurance company my medical expenses were agreed. In future, I will take the time to read my travel insurance policy thoroughly prior to any trips so I know what is and isn’t covered and what documentation will be required in the event of a claim.”

So clear is the impact of this recession, that employers are already looking to action a plan to bring wages in line with the current cost of living. Fourth’s data shows that nearly a quarter (23%) of retail employers are planning to raise wages as a direct reaction to the cost of living and inflation.

The Baby Products Association has partnered with The Finch Group, Independent Insurance Brokers, which offers advice and preferential rates to members. Call 02380 242936 or email enquiries@finchgroup. net for more information.

Meet our members …

Members of the Baby Products Association, whilst all nursery industry related, include a diverse range of businesses from wheeled goods, car seat and travel products manufacturers, to companies producing feeding, clothing, toys and accessories and also industry service providers. Over the next few months we will introduce some of our members. However, you can view a full list including company contact details on the website at www.b-p-a.org

Everything covered

Exclusively covering UK and Ireland, Cheeky Rascals is the go-to nursery distributor, supplying independent and national nursery retailers as well as having its own dedicated eCommerce team to take care of digital platforms such as Amazon and its own D2C websites. Whatever your business needs, the company will work with you on a flexible solution to provide the best possible support. A ‘pick and mix’ approach will allow you to take advantage of all or just some of the services it has to offer from warehousing and drop-shipping, trade sales and account management, marketing, eCommerce and PR Support, and our own in-house customer service support.

Telephone: 01730 895761 Email: info@cheekyrascals.co.uk Website: www.cheekyrascals.co.uk

Products with personality

At Cosatto, the aim is to save the world from boring baby stuff by developing products that harness early sensory skills and are better for babies. 2023 will see lots of exciting opportunities for the company including new products, patterns and collaborations in the pipeline. One range it’s particularly excited about is the new Silhouette range. Retailers and customers may be surprised to see a jet-black design from Cosatto, however the range is still bursting with Cosatto personality.

Telephone: 0871 977 3900 Email: enquiry@cosatto.com Website: www.cosatto.com