See all the glamour and trophy takers from the dazzling 25th AIBMS Retail Excellence Ireland Awards
THE YEAR AHEAD: Retailers look to the next 12 months and share their highs and lows of 2023
ASK A MANAGER: What makes a Retail Manager tick? We find out CRIME-PROOFING RETAIL: Examining The measures retailers can take to prepare and prevent
“AIB Merchant Services has truly enhanced our payment experience at Windyridge. Their seamless transactions, reliable processing, and superior customer support stand out. The integration of Clover with our till system, a testament to their tailored and bespoke solutions, has notably streamlined our operations, affirming AIB Merchant Services as ourtrusted payment partner.
Paul Harvey - Windyridge Garden Centre““It was great for Alacarte Software to partner with AIBMS. The integration process was well supported and provided fora quickturnaroundto implementation.This collaboration has empowered ourEposwith efficient and secure payment processing capabilities. This is a truly valuable partnership forAlacarte Software and our users, current and future.
Tim Gunning - Alacarte Software
Welcome to the latest edition of the Retail Times. What a year 2023 was, one we won’t forget in a hurry. Christmas had a mixed start this year for ourselves and fellow garden centre members, but in the end the feedback for garden centres was positive in comparison of what was a bumper 2022 trading period. Not all categories traded on a positive, with overall results very mixed across the retail industry.
I look forward to what 2024 will bring from a retail perspective. It will not be without its challenges, such as the rise in the minimum wage, additional benefits such as sick leave and the pension enrolment in October, which are influencing the cost of doing business. I know this has been the number one topic that Jean and the team at REI have been lobbying government on.
2024 will also bring the opening of our newly redeveloped Arboretum Garden Centre in Kilquade, Co. Wicklow. It’s been a major undertaking, especially with trying to continue to trade alongside a building site! But what I would take from it, as retailers, we need to continue to innovate and develop our retail offering to overcome further challenges.
The REI team have put together a fantastic edition, which features some of our award winners from the AIBMS Retail Excellence Awards 2023. It also features members thoughts on the year ahead in 2024, as well as some thoughtful advice on loss prevention, which unfortunately is a growing problem. You will enjoy reading this edition.
Finally, please save the 21st May in your diary for our annual Retail Retreat which will be back at the Royal Dublin Convention Centre. I look forward to catching up with you and fellow members at some of the many REI events planned for 2024.
Warm regards,
Fergal Doyle Chairperson, Retail Excellence Ireland
Keelan
Amy
Tirlán, Ireland’s leading farmerowned food and nutrition business, has launched its first low carbon future store as part of its wider ‘Living Proof’ strategy to reduce emissions across its entire supply chain. The Tirlán CountryLife retail store in Castlecomer, Co. Kilkenny is the first in the co-operative’s 52-strong local branch network to roll-out the new technology as part of a wider €11 million investment programme into the development and enhancement of its stores across 13 counties. The pilot transformation includes the addition of 108 solar PV panels to the roof of the agribusiness and garden centre building, alongside a 15kW battery storage. The system is designed to power over 50% of the store’s energy needs.
Gardaí have developed a reporting tool that will direct it towards retail theft hotspots around the country and help identify prolific offenders. This has been an area of particular focus of lobbying by the Retail Excellence team and welcome this further focus on Retail Crime which is costing the exchequer €1.6Billion every year. Speaking as the nationwide operation was rolled out, Ireland’s Justice Minister Helen McTee said: “Retail theft is not a victimless crime, and I welcome this new, nationwide operation targeting organised retail crime.”
Congratulations to REI Board Member Paul Gallagher and his business partner Sunil Shah on opening their 24th Skechers store in Ireland at Dundrum Town Centre. Operating on the second floor at the entrance to the newly opened Penneys, it will no doubt prove a success.
The Applegreen store at Dundalk Retail Park will showcase a variety of M&S Food items, including fresh fruits, salads, Irish sandwiches, lunch and dinner options, along with popular M&S favorites. Dundalk Retail Park’s Applegreen, the sixth nationwide to carry the M&S Food range, has undergone a significant redevelopment to accommodate the new offerings. The store will also introduce Click & Collect services for selected M&S Clothing and Home product ranges.
Aimee Connolly’s cosmetics brand, Sculpted by Aimee, has achieved the prestigious title of the top Irish startup. This recognition comes as part of LinkedIn’s 2023 Top Startups List for Ireland. Sculpted by Aimee, which Aimee Connolly established in 2016, has experienced remarkable growth, expanding its product line to include over 100 items. These products are now available in more than 400 stores across Ireland and are shipped to customers in 68 different countries via its website. The brand recently celebrated the opening of its flagship store on Grafton Street.
De Tec Tag is a retail services technology company with 200+ clients in 8 markets (ROI, UK, Hilland, Belgium, Spain, Germany, Italy & USA). The acquisition will create a new retail services division at the Johnston Fitout Group (JFG) called Johnston Retail Services (JRS). This acquisition represents a significant move by The Johnston Fitout Group into technology-based retail services and gives their client base access to some of the most modern tools to assist them in maintaining, developing and managing their business. With a legacy of over 75 years, this also gives the wider group the opportunity to incorporate modern retail technology and principles within its Retail and Commercial fitouts in Ireland and international markets. Commenting on the acquisition, Conor Cahill, Johnston Fitout Group Managing Director said: “Having worked with the De Tec Tag company for nearly 20 years on significant projects, we believe now is the right time to add our scale and experience to assist the development of this exciting business.”
SuperValu has unveiled its newly renovated store in Togher, Co. Cork, after an investment of €7.5 million. Liam Ryan’s SuperValu currently employs 85 people and is expected to create an additional 20 jobs in the Togher area. The revamped store, which opened late 2023, features an expanded range of high-quality products, including new deli, butcher,
and fishmonger counters, a wider selection of bakery items, and a prepared meal range called ‘The Supper Pot.’ Shoppers can also look forward to a more modern and spacious shopping experience, as well as the addition of a new in-store café. Expert bakers, butchers, and fishmongers will offer exciting new creations, and specialty zones like The Happy Pear, Health & Wellness, and Taste of Local will provide shoppers with exclusive and unique offerings.
Shop
The newly launched store at Dublin Airport’s terminal one arrivals gate is pioneering a checkout-free shopping experience thanks to cutting-edge AI technology. Named ‘Dublin Town To Go,’ this innovative store offers a range of products including coffee, pastries, cereal, milk, and toiletries. To gain entry, shoppers simply scan their payment card at the entrance. Through a combination of camera tech and weight-sensitive shelving, the AI system accurately identifies the items customers select and automatically charges their card.
The recently established store can be found within the Blanchardstown Centre, making its debut just over a year after the launch of its Grafton Street counterpart. Covering an area of 186 square meters, the new store encompasses all the signature features of a high-quality LEGO Store, including a Pick a Brick wall, a Build a Minifigure station, and a wide array of sets available for purchase. This venture has generated approximately 15 new job opportunities, with the store situated on the second level of the shopping complex.
Against the deepening ‘cost of doing business’ crisis, the 25th Annual AIB Merchant Services Retail Excellence Ireland Awards unfolded in a dazzling spectacle at the Galmont Hotel in Galway. Almost 550 retail leaders from across Ireland’s cosmos transformed the evening into a celebration of resilience, innovation and brilliance
“The Retail Excellence Awards is always my favourite time of year, traveling around Ireland and visiting the Top 30 stores in person,” said judge Matthew Brown and ‘Retail Futurist’ at Echochamber. “Over the years I have visited a host of amazing businesses from all sectors, from big to small, in every corner of Ireland. I am always amazed at the superb standards of retail excellence that I see.” Among the awardees was the Guinness Storehouse, honoured with the title of National Store of the Year. Faerly secured the Small Online Retailer of the Year award, Wardrobe Plus won Medium Online Retailer of the Year, and EZ Living Interiors also clinched the Large Online Retailer of the Year recognition. Boots was celebrated as the Sustainable Retailer of the Year. Talent within the Retail Industry was also celebrated with Amanda Christie, Manager of The Kilkenny Design in Liffey Valley Shopping Centre, winning Manager of the Year and Arron O’Malley of Kavanagh’s SuperValu Westport winning Rising Star of the Year. Shane Lafferty of McElhinneys was crowned as the inaugural Unsung Hero of the Year. Jean McCabe, CEO of Retail Excellence Ireland, expressed her thrill in unveiling the winners on this silver jubilee celebration. “The judging panel was blown away by the exceptional quality of retailers throughout the country, making the process of selecting our final winners an exceptionally challenging task. Despite the current challenging trading conditions, the determination and aspirations of retailers across Ireland provide us with a renewed sense of optimism as we eagerly anticipate 2024,” she said.
National Store of the Year 2023
Guinness Storehouse
Unsung Hero of the Year 2023
Shane Lafferty - McElhinneys
Rising Star of the Year 2023
Arron O’Malley - SuperValu
Westport Manager of the Year 2023
Amanda Christie – Kilkenny Design
Ecommerce Manager of the Year 2023
Lorraine Marren - McSport
Small Online Retailer of the Year 2023
Faerly
Medium Online Retailer of the Year 2023
Wardrobe Plus
Large Online Retailer of the Year 2023
EZ Living Interiors
Sustainable Retailer of the Year 2023
Boots Excellence in Customer Experience Award 2023
O’Briens Wines - Clontarf
Pharmacy of the Year 2023
Mulligans Pharmacy - Gladstone, Clonmel
Electronic & Tech Store of the Year 2023
Three Store - Bray Garden Centre of the Year 2023
Windyridge Nurseries & Garden Centre
Furniture Store of the Year 2023
Diamond Furniture
Food Store of the Year 2023
Barnhill Stores
Off-Licence of the Year 2023
Whelehans Wines, Loughlinstown
Jewellery & Gift Store of the Year 2023
Guinness Storehouse
Lifestyle Store of the Year 2023
Nook & Cranny Gift Store
Fashion & Footwear Store of the Year 2023
Fabiani
Café of the Year 2023
Insomnia - Baggot Street
Supplier of the Year 2023
StudioForty9
The crowning glory of the night was undoubtedly the iconic Guinness Storehouse, ascending to the pinnacle as the ‘National Store of the Year.’ Amidst a sea of stellar contenders, the judges felt the Storehouse stood tall, a testament to its unwavering commitment to excellence and customer experience. “The store features world class design that makes dramatic use of projections and turns personalisation into a series of immersive experiences. The Guinness Storehouse takes experiential storytelling to the ultimate level, turning a pint into a global icon and one of the world’s top tourist attractions,” Matthew said of the overall winner. “Winning National Store of the Year is a tremendous honour for us, and it means a great deal to our entire team. This award is a testament to the hard work, dedication, and passion of our team members. It validates the countless hours they’ve invested in providing exceptional customer service, maintaining a high standard of quality, and consistently striving for excellence,” added Guiness Storehouse, who also walked away with the award for Jewellery & Gift Store of the Year 2023.
“Winning this award has proved that all the hard work hasn’t gone in vain; that it really does pay off. It also makes me more determined to keep working even harder to accomplished my goals,” said Arron on the night.
“Winning the Retail Excellence Unsung Hero Award 2023 is the highlight of my career. It recognises the hard work and dedication required to succeed in a high demanding retail sector. This award shines a light on the resolute team that works behind the scenes, to ensure the sales team have the support they need to offer that customer experience for which McElhinneys is renowned,” said Shane Lafferty
“I am extremely proud to have won REI Manager of the year 2023,” said Amanda of her win. “I have worked in the retail industry for over 15 years and worked extremely hard to get to where I am today. This recognition reflects my skills, expertise and ambition. My main priority has always been my team and colleagues, by leading as an example and supporting their growth and development in their own journey to deliver excellence in their role. Their support throughout the years have been phenomenal.”
“Mulligan’s in Clonmel reinvents the traditional pharmacy as a stylish lifestyle destination,” Matthew continued. “Located in a beautiful red brick heritage Post Office, the stylishly designed interior combines a premium pharmacy and skincare range with a glamorous Beauty Hall complete with green wall and chandelier. The top floor is a comfortable and stylish café with excellent food offer and a brand design that references the Post Office history.”
The judges felt Diamond Furniture is a fantastic example of a business that improves year upon year, doing something new and innovative each time. “Will Diamond transformed his entire storefront. Inside, the store combines clear curation with storytelling communication that is both digital and physical; ranging from product care advice to videos of the design and manufacturing process. The new Bed Lab is a digitally enabled customisation area with stylish design, whilst the Design Lab is combined with Will’s Bar, offering a hotel style hospitality service,” Matthew said.
The fabulously stylish Barnhill Stores in Dalkey has been transformed into a unique, premium and worldclass convenience store that combines superb design with a curated collection of artisan food brands; from traditional butcher and fishmonger to Butler’s Pantry, Sheridans Cheese and coffee. Matthew explained the small store is a “jewel box journey of food discovery with world class design and merchandising.” The team were overjoyed to win on the night, as Dave Whelen of Barnhill Stores thanked the “incredible team who has worked tirelessly over the past years in a fun, creative and imaginative way to achieve this goal, while constantly striving to provide the highest standards of customer service.”
Fabiani in Longford shows that there are no limits to the experiences you can offer in store, nor how innovative you can be as an independent entrepreneur. Starting life as a shoe store, Fabiani has grown in size and scope over the years to offer an expert curated premium fashion offer, a coffee shop, beauty treatments, a yoga studio and personal shopping lounge. According to Matthew, “expert storytelling, a new pre-loved range and dedicated staff make this a world-class, worthy winner.”
Nook & Cranny in Portlaoise is a charming gift store that combines worldclass curation of unique, quirky and well-thought-out gift ideas in clearly defined categories, with expert storytelling and a warm and friendly atmosphere, according to the judges’ comments. “We’re on top of the world bringing this award back to Portlaoise in our eighth year in business,” said Nook & Cranny of their win. “It’s a direct reflection of the outstanding quality of our team and their belief in the brand. It recognises our customers who return time and again, to find a gift that’s a little ‘out of the ordinary.’ They too, value their community with its array of independent stores in our gorgeous town.”
There are multiple reasons Insomnia Coffee on Baggott Street took the trophy of Café of the Year 2023. The judges said it, “sets a welcome first impression with a playful arrange of topiary planting outside. Unique artworks commissioned for the store and its stylish comfortable design are combined with innovative merchandising of fresh food, in particular bakery products behind glass. This is proof of the old saying Retail is Detail. And you can put your selfie on your coffee too!”
Windyridge in Dun Laoghaire is a, “masterclass in creative visual merchandising and artistic design,” commenented Matthew on their win. “A giant wooden troll, wicker dinosaurs and dresses made of leaves combine with quirky animal statues and furniture props to create amazing colour and texture stories. Expert product ranges and garden and BBQ workshops add to the authority of the experience.”
“Three Mobile transforms the traditional mobile phone store into a curated journey of discovery with its interesting range of lifestyle products across a range of mood categories,” Matthew said of the innovative store. “Stylish design and merchandising combines with interactive technology to pack a lot of experience into a small space.”
Dave Whelehan ensured his win by creating an expert wine destination with his store in a unique heritage house, according to the judges. “With a wine school and tasting bar, he has recently added a stylish full service restaurant on the first floor. The range of wines is curated by price, grape varietal and region and staff review and every product has an expert story.”
Nearly a year after being crowned the Overall Winner of the AIBMS Retail Excellence Awards, Petstop’s Founder & Managing Director, Anthony Gallagher reflects on a successful year and highlights what lies ahead
“It’s been a year marked by growth and gratitude. Business has ourished over the past year in the wake of the AIBMS Retail Excellence Award,” Anthony says of the last 12 months. “The acknowledgement boosted our brand visibility and solidi ed our position in the market. Customer trust and loyalty has been signi cant, translating into increased footfall and online engagement. The recognition served as a testament to our team’s dedication, inspiring them to continuously raise the bar. Just like pets, are sta are like family and we always seek to foster that.”
“The ceremony itself was a great event and we enjoyed the opportunity to connect with fellow retailers and
industry leaders. It was also a chance to gain insights and exchange ideas.”
Being crowned the winners, he says, was an indication that Petstop’s strategy was working and emphasised the importance of the core values of the business. “Winning such an accolade has not prompted a drastic shift in our business plan or attitude, rather, it has reinforced our core values. Our commitment to ‘Pet First’ policy and our value of ‘Happy Pets, Happy People’, to customer satisfaction, product quality and community engagement remains unwavering.”
For retailers aspiring to win a Retail Excellence Award, Anthony’s advice is rooted in passion, consistency,
customer-centricity, and hard work.
“We would recommend prioritising the needs of your customers, fostering a positive workplace culture and stay attuned to industry trends. Innovation should be a constant pursuit.
Engage with your community, build meaningful relationships, and let your dedication shine through every aspect of your business.”
And asides from the win, Petstop’s 2023 was marked by several noteworthy accomplishments.
“After opening two new stores this year, we also expanded our product range, introducing innovative own-
brand and eco-friendly options that align with our commitment to sustainability. Collaborations with local pet charities underscored our dedication to animal welfare. Social media campaigns and in-store events created a vibrant and engaged community around the Petstop brand,” he continues.
“Looking ahead to next year, we plan to enhance our online presence, making the shopping experience seamless and enjoyable for our customers. Community-driven initiatives will remain a focal point, with an emphasis on supporting
local pet charities and promoting responsible pet ownership and we plan to open three new stores and increase our turnover by 20% through 2024.”
Petstop is Ireland’s largest pet supplies chain, operating for nearly 30 years as a family business. It is also the current holder of the National Retailer of the Year and Large ECommerce Website of the Year from the Irish E-commerce Awards, the Large Business Website of the Year from the DBI Awards and the winner of the Most E ective Acquisition Strategy from the Klicks Awards.
Elevating Excellence in Industrial Staffing, Crafting Sweet Success With Our Workforce Solutions For Butlers Chocolates
Butlers Chocolates began life in Dublin’s Lad Lane in 1932 The company now employs 500 staff across its factory located in North Dublin and the Butlers Chocolate Café network, which consists of 27 Butlers Chocolate Cafés in high-profile locations in Ireland, along with franchises in the Middle East and South Asia Butlers Chocolates are exported across the world and are available in over 35 countries and 60 airports The company is 100% Irish family owned
Butlers BRC Grade A+ accredited manufacturing facility is located in Clonshaugh, North Dublin The HR Team found it challenging to find sufficient numbers of quality staff to work in the factory due to labour shortages in the general operative space after the COVID Crisis Butlers has several manufacturing peaks over the year in line with traditional chocolate gift giving occasions such as Easter and Christmas The company needed flexibility to work in line with seasonal demand and employ quality staff at short notice for temporary periods as required
In October 2022, Butlers took on board the first set of 8 temporary general operatives from Excel Recruitment Excel supplied high-quality staff ready to work in machine operation, packing, and hygiene across the factory and warehouse
The number of temporary staff supplied by Excel peaked at 45 The supply of temporary staff helped Butlers produce in good time and ample volume to meet consumer demand
The ability to react quickly to increased manufacturing demand worked particularly well for Butlers management, as it gave them added flexibility as required
The quality of staff supplied was evident when 9 Excel recruitment temporary workers moved from employment with Excel to permanent employment with Butlers
Excel Recruitment and Butlers Chocolates
Michelle McBride, Retail Director, Butlers Chocolates and Board Member, Retail Excellence Ireland discussed this issue with Barry Whelan, CEO of Excel Recruitment (Corporate Partner to REI) Barry introduced Butlers Production and HR management team to Sarah Adams, Team Leader of the Industrial Recruitment Division in Excel Sarah analysed the requirement and she and her team set about deploying Excel Recruitment temporary general operative staff to work in the factory The staff was made up of qualified people, with manufacturing experience, looking to work locally in North Dublin where Butlers Chocolates is located
Contact ERF’s Best In Practice: Industrial,
01 871 7676 or 087 063 9483 sarah
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AWe ask the managers in Jones Garden Centre and Mullingar and Enfield Advanced Eyecare to tell us what makes them tick in and out of a retail setting
KATIE JONES, SUPERVISOR, JONES GARDEN CENTRE
What is your favourite retail store and why? My favourite retail store is Brown Thomas because of the sleek, clean display stands, and the variety of departments to choose from. The employees in Brown Thomas are always so welcoming and helpful with any questions or recommendations.
What was your last purchase? My last purchase was a small Christmas tree ornament from Kilkenny in Kildare Village.
What is the one thing that you have done that has had a profound and positive effect on your business? Creating a safe and positive work environment for the employees I supervise while also maintaining the supervisor-to-employee boundary. The employees have frequently told me they are happy and feel like their day will be organised and less stressful under my supervision.
How do you achieve a work life balance? I try to leave work at work when necessary. Although as it is a family business it does follow me home sometimes, but I enjoy my job and I always allocate days o for myself when possible.
What was your last favourite holiday? I went to New York in November 2022. It is by far my favourite city I have ever visited.
What is the greatest challenge currently facing your business? As of now we do not have enough seats in the restaurant to accommodate the footfall at the weekends as we are extremely busy. There is also an issue with sta ng during the week.
What advice would you give one starting out in retail? Work with your co-workers and do not underestimate the power of teamwork. Also remember to ask questions. There are no silly questions and managers will appreciate you asking questions rather than making a mistake because you don’t have the right information.
What’s on your ‘bucket list’?
In terms of the business, I would like to see the garden centre and restaurant expand and gain even more traction and footfall. In my personal life, I would love to travel to South America and explore countries like Argentina, Colombia, and Brazil.
What is your greatest retail achievement? My greatest achievement is earning my managers trust to supervise at such a young age. Another small achievement I take pride in is maintaining such high levels of customer service and high quality stock that we have been able to maintain regular customers for numbers of years in both the garden centre and the restaurant.
SIOBHAN PRINGLE, DIRECTOR, MULLINGAR AND ENFIELD ADVANCED EYECARE
“I quali ed as an optometrist a long 31 years ago from Kevin Street DIT, now TUD. After being employed and gaining experience here and after four years in London, I decided I would open my own business so Mullingar Opticians opened in 2003 and in En eld in 2006.”
What is your favourite retail store and why? That’s a hard one! I prefer to support smaller stores like my own. I feel the service is better and the choices can be unique. We are very lucky in Mullingar to have lots of choice like that. In terms of larger stores, I like good old Dunnes stores and whenever I’m in Dublin Brown Thomas and Arnotts will be top of the list for a good browse.
What was your last purchase? Sofa covers online … I can never have enough with dogs in the house!
What is the one thing that you have done that has had a profound and positive effect on your business? We relocated the Mullingar practice four and a half years ago to a larger premises in a small shopping centre just outside the town centre. It has parking (free) and is easily accessible from any direction. It’s been a fantastic move and has proven, for services like mine, people like to be able to get to you easily, especially if elderly or if they have small children.
How do you achieve a work life balance? We have three beautiful dogs who get me outdoors daily and we have a campervan so we like to get going places!
What’s on your ‘bucket list’? To own an apartment in Portugal and to do lots of travel across Europe in the Camper.
What advice would you give one starting out in retail? Do plenty of research on your chosen business and try to bring a unique style to it, be ready for rainy days and keep the bank happy! Most of all, always have a positive attitude and healthy work culture within your team. If this is right, the rest will ow naturally in terms of fantastic customer service and all the important things in a successful retail business.
What was your last favourite holiday? We spent three weeks in France this summer in the Camper catching the rst two Irish rugby world cup games, it was just fabulous!
What is the greatest challenge currently facing your business? It’s de nitely the Cost of Living, and people being cautious regarding spending. Our own costs regarding stock and lenses and all that are just going up and up, especially since Brexit, so we are constantly researching good quality options with a good price point.
What is your greatest retail achievement? Seeing how my small businesses have grown over the years and how successful they are thanks to the amazing team around me. Some of the team have been with me from day one, so we are truly a family. We were also extremely proud to win REI best Optician twice and runner up the third – time both plaques are in pride of place in our shop front.
Retailers must take extra precautions during this period to ensure the safety and security of their sta and customers. One of the most e ective measures is to increase the number of security personnel and surveillance cameras in the store. This not only deters potential criminals but also provides a sense of security for customers. Additionally, access control measures such as ID checks and bag searches can be implemented to prevent unauthorised entry and reduce the risk of theft.
Procedural Security
Procedural security is a set of policies, protocols, and practices designed to safeguard an organisation’s information and assets from unauthorised access, theft, or damage. Pocedural security is important because it helps prevent security breaches that can result in signi cant nancial losses, reputational damage, and legal liabilities for organisations. Procedural security also helps mitigate
The New Year is a time of joy and celebration; however, it is also a time when retailers in Ireland can face increased risk of theft and criminal activity. Retail stores must take extra precautions to ensure the safety and security of their staff and customers. Terry Conlon, COO of The RFC Security Group, explains the measures retailers can take to prepare and prevent
these risks by establishing clear guidelines and protocols for managing information and assets. The key components of procedural security include access controls, incident response plans, regular security audits, and risk assessments. Access controls limit access to sensitive data and systems to authorised personnel only, while incident response plans outline the steps to be taken in the event of a security breach. Regular security audits and risk assessments help identify vulnerabilities and ensure that security protocols are up to date.
5 Simple Crime Prevention Strategies to take now
1. Make sure to vet your staff correctly especially your Christmas temps to mitigate the risk of losses. Ensure you contact their previously employers and referees. Their revenue work history will either corroborate the references on their cv or highlight any anomalies whereby the candidate may have attempted to deceive or mislead you concerning any previous disciplinary action or convictions they may have been a part of.
2. When stocking out or replenishing stock it is important to understand the volume of sales, the value of the product and the attractiveness of the product to potential shoplifters – Only stock what you need on the shopfloor, don’t over stock high value products.
3. When you find discarded security tags or packaging on the shopfloor, make sure to investigate this as the perpetrator may return or indeed be a persistent offender –sharing this information internally following an investigation will help mitigate future threats and losses to the business.
4. Always ensure that your access-controlled doors are secured as potential perpetrators are constantly looking for ways to overcome your security defences – the best way to do this is random penetrating testing coupled with procedural security implementation and adherence.
5. Make sure that your CCTV camera system is fit for purpose, in full working order, with all cameras positioned correctly, and clearly defined by way of visible pedestrian eye level signage highlighting the levels of store surveillance in place.
CPTED
CPTED is a design philosophy that focuses on creating an environment that deters criminal activity. In retail stores, t for purpose lighting and visibility are critical to deterring criminal activity. Well-lit areas are less likely to attract criminals, and they also make it easier for sta and customers to see potential threats. Clear signage and way nding can prevent confusion and disorientation, which can lead to criminal activity. E ective placement of merchandise is also crucial, as it can reduce the risk of theft and promote natural surveillance. Retailers should consider using CPTED principles when designing their stores to create a safe and secure environment for customers and sta .
Retailers must also balance the need for security with providing a positive shopping experience. Managing crowds and queues can be challenging, as it can lead to congestion and potential safety hazards. Retailers must also ensure compliance with privacy laws when using surveillance technology. It is essential to strike a balance between security measures and providing a positive shopping experience for customers.
Retailers must take extra precautions to ensure the safety and security of their sta and customers at this time of year. Measures such as increased security personnel, surveillance cameras, access control measures, and anti-theft devices can signi cantly reduce the risk of theft and criminal activity.
For more information:
For indepth risk mitigation advice and security services contact: rfc-security.ie
From a retail perspective, what were your highlights of 2023?
The main highlight was when our team showcased a remarkable collective e ort, successfully organising a campaign to place life-changing de brillators in our community. Despite the challenges, the determination and passion of each sta member resulted in a hugely successful co ee morning raising over €9,000 for the installation of multiple de brillators.
What changed for you in 2023?
One of the many changes for the pharmacy has been customer expectations, mainly driven by the impact of Covid-19 on healthcare accessibility. With increased reliance on pharmacies due to the strain of doctors, we recognise and thrive on the need to ensure all of our sta both front and back of shop are fully trained in every area within our store, to ensure our customer is always getting the best experience and knowledge.
What changes or initiatives of 2023 will you keep for the coming year?
A key success for the pharmacy going forward is to make more e ort to enhance community engagement post Covid-19, encouraging customers to explore with ease. Looking ahead to 2024, the focus remains on delivering an enjoyable and unforgettable customer experience and making sure our pharmacy stands out.
What challenges can you anticipate for 2024 and how will you overcome them?
Unfortunately, we can anticipate multiple challenges for 2024, including having to adapt and train
to deal with evolving technologies, addressing stock shortages, price increases and the preference to shop online with pharmacies. Key strategies for overcoming these include a strong emphasis on sta training to keep on top of evolving technologies, new product launches, and implementing educational courses on old/new products. The main goal is to ensure customer service and satisfaction is at the highest level, so the customer can trust and return to the pharmacy rather than shop online.
Are you still feeling the effects of post-Covid retail?
Personally yes, I certainly feel the pharmacy is feeling the e ects of post Covid-19. It is the impact of Covid-19 that has shifted customer behaviour, with a notable preference for quick transactions. To address this, we aim to gradually change the rushed dynamic, creating an environment where customers feel more relaxed, safe and encouraged to browse, reinstating the more leisurely experience they enjoyed before.
What are you most looking forward to in 2024?
We are eagerly anticipating the evolvement of new technologies and services that are being brought to pharmacies in the new year. By trusting your local pharmacy with more power to diagnose and treat certain conditions, we are embracing the continuous learning opportunities they bring. Also, we want to actively involve our community more to understand their preferences and needs within our pharmacy and to make sure we live up to that expectation.
“WE AIM TO GRADUALLY CHANGE THE RUSHED DYNAMIC, CREATING AN ENVIRONMENT WHERE CUSTOMERS FEEL MORE RELAXED, SAFE AND ENCOURAGED TO BROWSE, REINSTATING THE MORE LEISURELY EXPERIENCE THEY ENJOYED BEFORE.”
From a retail perspective, what were your highlights of 2023?
Having come o the back of winning Retail Excellence Ireland National Retailer of the Year 2022, and Pet Store of the year 2022, it was always going to be a challenge to maintain the highs going into 2023. Not only had we just opened our store in July of 2022, it was also our rst concept store, selling primarily cat and dog products, eventually also moving into wild bird. On top of that, it was also our rst unit inside a shopping centre. Breaking these new grounds came with its own challenges, but this was a perfect opportunity to showcase our new own brand lines and get a rm foothold in the pet food market, which has ultimately proved a huge success.
What changed for you in 2023?
2023 has been a great learning curve for me, personally. It was my rst time taking charge of my own store with Petstop and I was eager to put my own stamp on things, especially
with a brand new store. This was my rst time opening a store in my retail career, and as I’ve mentioned before, it has come with great success. I owe a lot to both Anthony Gallagher and Shirley Lynch for having faith in me that I could achieve what I set out to do when opening our Douglas store.
With our ever-increasing ranges of own brand products, and with many more lines to come, we are in a great position to take on these challenges. With new loyalty schemes in place, we are con dent that we will remain an attractive place to shop for our customers. We o er fantastic ongoing training for new and existing sta as well as encouraging fantastic one on one service to our customers, making petstop an excellent place to work and shop.
Are you still feeling the effects of post-Covid retail?
Pet retail post-Covid is entirely
di erent to how it was pre-Covid. We were lucky to be considered an essential service and as such remained open through those di cult times. A lot of people took the time at home as an opportunity to expand their family with the additions of new pets, and that had a positive knock on e ect for us. Spending habits have de nitely changed, but I think, as a company, we have moved very well with these changes, with own brand products taking centre stage for us. What we o er by way of own brand is very high quality and comes in very reasonably priced. And that’s exactly what customers are looking for postCovid.
What challenges can you anticipate for 2024 and how will you overcome them?
It will be interesting to see what obstacles we face going into 2024. There are some obvious challenges that will be seen across all retail sectors. Customers are becoming very mindful of such rises and it is crucial to stay competitive and to o er not only great service, but great prices too. Furthermore, it is very important to make your company an attractive place to work and a draw for perspective employees looking to get their foot on the retail ladder. I have extreme con dence that Petstop can excel in all of these areas.
What are you most looking forward to in 2024?
In spite of the obstacles facing retail in 2024, I am optimistic and excited. With our new store opening in Athlone, and with more stores in the pipeline as well as our recently opened store in Blackrock, it is a very exciting time to work for Petstop. Customers will see some very positive changes to their shopping experience in store, with the soonto-be availability of shopping kiosks, where customers will have the chance to both view our full range of products through our award winning website, as well as having the option of home delivery. This is a great step for us, and I know it will be a great experience for the customer in store.
From a retail perspective, what were your highlights of 2023?
Our new branch opening in the village of Adare in Co.Limerick. This is very exciting for the O’Connor family and our business as a whole. We felt that our collaborations with our suppliers were very successful.
Twice during the year we had a ‘Meet the Experts’ event with Dulux and Colourtrend where any queries were answered by colour specialists. We also felt that ongoing information days for new products were very bene cial for our new and existing customers. As a team, we coordinated a planned charity skydive for early 2024, raising €11k so far for our chosen charity, Asthma Ireland. During 2023, we also expanded our product range and our online website TOC.ie is alot stronger thanks to our online team.
What changed for you in 2023?
As our business is constantly evolving, it’s very important to stay ahead of the competition. For me personally, it was an opportunity to ‘become the expert.’ This involved learning as much as I could in relation to the products we sell on a daily basis. This year I was also delighted to take part in the Retail Management Programme which will be hugely bene cial as we go into
2024. We also introduced a Waste Management System to reduce waste and our carbon footprint, as much as possible.
What changes or initiatives of 2023 will you keep for the coming year?
We have implemented a number of things we will aim to stick to in 2024, such as: Adding new trucks to our eet to cope with extra demand, new systems on pricing to insure we stay compeitive and in terms of stock, we want to increase the volume of our core lines and concentrate on selling some items which are slow movers.
What challenges can you anticipate for 2024 and how will you overcome them?
Customers are more price savvy than ever before, so we are monitoring our stock more than ever so we can give value back to our customers. From a sales point of view, we’ll be making sure our quotations are all priced correctly and watching interest rates.
We are aiming to get our newest store in Adare running as well as our other stores. And sta ng is a constant challenge but we will be ensuring there’ll be training across all areas of our business. Our Click & Collect is more popular than ever, and we are constantly improving our o ering and spend a lot of time updating our website.
Are you still feeling the affects of post-Covid retail?
We are. Customers are more savvy when buying. Whether it be price or product iteslf, it’s up to us to persuade our customers the product is the right one, competitively priced and value for money!
An Garda Síochána is committed to working in partnership with the retail sector in tackling retail crime. Their Crime Prevention and Reduction Strategy 2021-2024 outlines their goals to reduce and prevent crime. A partnership approach is being taken to tackle this problem so that we can impact positively on rising figures, as Superintendent Seán Fallon of the Garda National Crime Prevention Unit explains
Firstly, a problem solving model such as S.A.R.A. can be adapted to enable targeted crime prevention approaches and initiatives. The S.A.R.A. model has four stages:
Scanning
• Identifying and prioritising potential crime and disorder problems.
Analysis
• Analysis of problems, gathering information and intelligence to identify underlying causes.
Response
• Development and implementation of a targeted response to address the causes of the problem identified.
Assessment
• Review of the impact of the response, to examine whether the response had the desired effect and go back and make changes to the response, if required.
In conjunction with our analysis service, we have developed an intelligence dashboard tool focusing on retail theft, identifying prolific offenders and hotspot locations around the country. This is now available to all Garda Districts on a monthly basis.
There are also a number of Crime Prevention techniques retailers can implement to reduce retail theft:
The three-to- ve second ruleShoplifters assess how easy it is to steal from a shop upon entering. A simple greeting to customers as they enter your premises can deter shoplifters.
Keep a log of the times and in-store location where thefts are occurring. Consider the shop layout, i.e. place high value or sought after products where they can be seen by sta . Take steps to protect stock, i.e. - reposition or lower shelving, display the items elsewhere, direction of hangers.
Consider security tagging high value/ sought after items. A visible security accredited anti-theft terminal at a shop entrance can help deter potential shoplifters. Electronically tagging
items can help deter a potential shoplifter, investing time to remove a tag can increase the chances of being caught. Be mindful of foil lined bags.
A clean and tidy shop with unobstructed visibility across the shop oor assists sta keep a watchful eye. Keep aisles uncluttered, consider wide aisles where possible, make it di cult for shoplifters to hide and steal unnoticed.
You can’t predict how a shoplifter will behave. Be calm but con dent. Shoplifters can respond aggressively when challenged. Implement a company policy on shoplifter engagement which incorporates a risk assessment. The Health and Safety of employees and customers should take precedence. Always trust your instincts and only engage a potential shoplifter if it is safe to do so.
Shoplifters are more likely to target stores where there is limited sta . Increased oor sta engaging with customers is likely to lead to a shoplifter being spotted or deterred.
Always report Crime by ringing 999/112. Further crime prevention advice can be found on www. Garda.ie, with details of your local Crime Prevention Officer.
As we start 2024, business owners will be acutely aware of the signi cance of cash for maximising business potential. Despite the continued growth of digital payment options, cash remains crucial, and here are a few reasons why it continues to retain its importance:
Lower transaction fees:
Credit card processing fees, merchant services charges and transaction related fees all add up, and meaningfully a ect tightening margins in business.
Reduced risk of fraud and chargebacks:
Cash provides peace of mind for businesses and consumers alike.
Wider customer base:
It’s important to be aware that not all customers will have access to digital payment forms, so it important for cash to be accessible to all your customers.
For consumers, we’re also seeing a growing trend of people favouring using cash to help them to budget and be more conscious about their day-to-day spending, especially given the current cost of living challenges. There is a current #cashstu ng trend on several of the social media platforms a new term for an age-old concept of budgeting by managing personal cash ow!
So, what are the considerations for managing cash for retailers in 2024?
For business owners, the e ective management of cash is crucial to the smooth running of the business. Considerations include:
Getting cash into their bank account quickly
• Securely transporting cash to the bank
• Bank fees for lodging and processing cash to their bank account
• Security considerations for sta when transporting cash
Cash management solutions are improving all the time to help with all these challenges:
Security
It seems foolhardy for any business owner or manager to be taking the risk of bringing cash to a bank branch themselves. Not only for their personal safety, but indeed in some instances their insurance may not cover them, should they be intercepted. Cash in transit companies who are fully licenced and accredited will be fully covered in any such instance.
Fees
Some business owners lodge to their bank assuming that they’re saving fees, but there are cash processing fees from the retail banks. As a result, it is 100% worth pricing around, to get some clarity about the fees from a retail bank vs a cash management provider – they are often shocked to nd that their bank fees may be higher than the alternatives.
It is top of mind for every business owner to have access to their cash as quickly as possible after the transaction occurs, so cash processing time is critical for business. What can speed this up is nightshifts handling the cash processing, which has a huge impact on how quickly the cash will be available in the business’ bank account.
There are now cash management solutions whereby businesses can have their cash in their bank account even before it has been collected! This SmartCash solution uses new Smart Safe technology. This allows a retailer to lodge their daily takings into their smart safe (which is on their own premises). The cash is counted, and the amount is lodged in the business’ bank account the next day. This means the business has daily lodgements into their bank account, while the cash in transit company securely manages the collections in the background.
With changes in the banking sector there are fewer bank branches than ever, so often businesses are having to drive further, and wait in longer queues at bank branches, to lodge their cash. This is valuable time business owners or their teams are losing. By using a cash management company, a business can save many wasted hours and thus increase productivity.
5 key questions to ask when researching cash management providers
1. Does the cash management provider have a bank account in Ireland?
If not, this could cause delays in money reaching your business bank account.
2. How quickly will money reach my bank account?
Does your chosen cash management company process your cash overnight? If not, then time from collection to lodgement to your business bank account can be much longer.
3. Can I access my cash reports online?
Good cash management solutions should be able to ensure you have access to online reporting, giving you real-time access to your cash reports at any time.
4. What happens if I have a query?
You will want to ensure that your provider has an Irishbased customer service team to resolve queries in a timely manner.
5. How do I know if my money is safe?
Is your company stable?
For more information:
+353 1 460 58 88
fnagle@gsls.ie / www.gsls.ie
Cash management companies can share measures taken to ensure your cash is safe including insurances, licences, accreditations, trust accounts, length of time serving the Irish market, and their own financial stability. Don’t be shy to ask for these assurances, as these are critical to any business managing your cash.
Like most retailers, you’ve probably done some research on digital signage and how it can benefit your business. When used strategically, digital signage can make your store a far more interesting place to visit and can give your customers a much better experience as Dave Moriarty of Stacked.ie explains
When you’re trying to attract more customers, it’s important that you grab their attention and give them a reason to come in. Various factors in uence where our visual attention goes, including motion, colour, texture, and sharpness, so the key is to identify the areas of your store, displays will work best in. But rst, you need to decide what your primary objective is. Do you want to drive more footfall, create a more welcoming atmosphere, promote a unique selling point, highlight products? Make sure your current store layout is aligned with your objective.
Digital signage is one of the most e ective ways to reach out to customers and build relationships with them. It can be used as both an advertising platform for key products and services but also as a way of welcoming and communicating with customers as they walk into your store. Here are some of the key ways this technology can be used in a retail setting:
Attract attention with vibrant visuals on your window displays: Use high-quality images and videos to grab the attention of passersby and entice them to visit your store.
Display time sensitive promotions and offers: This will create a sense of urgency and encourage people to visit your store to take advantage of the deals.
Showcase product reviews and testimonials:
Feature positive customer reviews and testimonials or sta picks of the week. This social proof will help build trust in your products.
Provide helpful information:
Share useful information with customers, such as product features, bene ts, and tips.
Create interactive experiences:
Incorporate interactive elements, such as touchscreens or QR codes. This will engage customers and encourage them to explore your store further.
Display real-time updates:
Utilise your content management system to showcase realtime updates, such as stock availability or countdowns for limited time o ers.
Incorporate social media feeds:
Integrate your social media feeds. By displaying customergenerated content and interactions, you can strengthen your brand’s online presence while driving footfall.
Feature dynamic content:
Keep your content fresh and engaging by creating a range of templates and regularly updating them with new o ers, product showcases, or seasonal campaigns. This will encourage repeat visits.
Leverage location-based targeting:
If you have multiple store locations, use geofencing or beacon technology to target customers near a speci c store. Tailor your content to the local audience, o ering locationspeci c deals or promotions.
Measure and analyse performance:
Take advantage of built-in analytics tools to measure the e ectiveness of your campaigns.
Remember, each retail store is unique, so it’s essential to experiment and nd the strategies that work best for your speci c audience and goals.
If you would like to speak to an expert, feel free to get in touch with Dave Moriarty on 086 1686240 or david.moriarty@stacked.ie
2023 proved challenging for many e-commerce brands, as the post-COVID surge waned. Increasing costs for acquiring customers on platforms like Facebook and Google, coupled with inflation, escalated business expenses, and impacted consumer spending. Co-founder of StoreHero Thomas Gleeson, explains why tracking e-commerce metrics correctly is especially key to success as retailers navigate uncertain waters
“In my year at StoreHero, I’ve interacted with over a thousand global ecommerce operators, each facing unique challenges. A common di culty is knowing which data to track, as ecommerce involves an overwhelming amount of information,” Thomas explains. “Understanding which metrics are crucial is half the battle for anyone running an e-commerce business.”
But where to start? In the bustling world of e-commerce, a divide separates the thriving from the struggling. “Those excelling possess a laser focus on their nances and metrics,” Thomas continues. “They understand that revenue growth isn’t just a numbers game — it’s about dissecting the marketing budget, anticipating sales volume, and deciphering the pro tability behind every move. Yet, this type of operator is more the exception than the rule.”
A concerning trend looms large he advises: many e-commerce players xate solely on top-line revenue, a risky venture in an industry with slim pro t margins of about 1015% net pro t. “Pursuing this singular goal often triggers counterproductive strategies—rampant discounts or in ated ad spends. While these tactics might achieve sales targets, they risk minimal pro ts or even losses, contradicting the business’s best interests.”
Success, he adds, is dependent on looking at the full picture. “E-commerce success largely hinges on revenue-oriented metrics like Sales, AOV, ROAS, and sometimes LTV. However, the most critical KPI for leading brands is the ‘contribution margin.’ This metric goes beyond product cost, incorporating variable expenses such as shipping, transaction fees, ful lment, and advertising costs. The contribution margin represents net revenue after deducting these variable costs, providing a clearer picture of pro tability before operational expenses are considered.”
Managing growth expectations with operational costs is a challenge for every retailer, he agrees. “As businesses grow, operational costs also increase but not necessarily in proportion to revenue. For example, xed expenses like rent and insurance remain constant, even as revenue
doubles. This discrepancy can lead to improved operational e ciency, a vital factor in managing growth and enhancing pro tability.”
But looking ahead to 2024, you can take actionable steps, helping shift strategy resulting in healthy nances and a thriving business. “Looking forward, 2024 marks a shift from prioritising growth at any cost to focusing on pro tability. This change means retailers will need to adjust in KPIs and success metrics, aligning them with the new emphasis on nancial health and sustainability.”
For more information: storehero.ai
Sustainable Energy Authority of Ireland (SEAI) understands that starting off on the energy efficiency journey can be quite daunting for businesses. Here they share tips businesses can take in a step-by-step approach to be more energy efficient
1Understand your energy use. SEAI’s Energy Academy is the perfect resource to get you started on this front.
The SEAI Energy Academy is an online e-learning platform designed to help businesses lower their energy bills by as much as 10% through shared awareness of energy e ciency and behavioural change. It’s the rst step for any business starting their energy e ciency journey. Upskilling your team on energy in the workplace helps to create a common understanding of why energy e ciency is important and what you can do today to make a di erence. There are over 30 modules available for you to chose from covering a range of topics from Energy and Climate Change to Electric Vehicles. There are also several retail courses available on topics such as Business Energy E ciency, Lighting, Heating and Refrigeration.
2
Develop an energy action plan. SEAI’s ‘Introduction to Energy Management’ workshop can also assist you in this way.
3 Complete an energy audit. If you’re spending more than €10,000 a year on energy you can avail of a €2,000 voucher through SEAI’s Support Scheme for Energy Audits. SEAI is always encouraging Irish small and medium enterprises (SMEs) to take control of their energy use with the Support Scheme for Energy Audits (SSEA). The scheme provides eligible businesses with a €2,000 voucher to cover the cost of an energy audit. An energy audit identi es tailored energy saving opportunities that can save businesses up to 30% on their energy bills and help to reduce their climate impact. The audit also assesses whether renewable energy technologies are a viable option for their business.
4 Invest in energy e ciency and renewable measures where grants may be available – always get advice from a registered professional. Before you commit to purchasing and installing upgrades or investments, check if there is an SEAI grant available.
5 Continue to monitor, track and report on your energy use. Use the tools and techniques acquired in energy management training. For more detailed support for retailers, the SEAI ‘Energy E ciency Guide for Retailers’ aims to introduce simple and e ective energy-related advice to help you use and manage energy more e ciently.
Embedded finance (EmFi) is an exciting hot topic paving the way across the Irish retail landscape. While Buy Now, Pay Later (BNPL) applications have been the most widely adopted, EmFi has new benefits such as revenue growth opportunities, enhanced customer experience, optimised cash flow, and reduced operational expenses. How can Irish retailers embrace and benefit from the wider EmFi opportunity? Pablo Montes, Strategy FinTech Lead at KPMG, explains
EmFi is a strategic approach adopted by leading retailers, to o er their customers, suppliers and partners nancial services integrated directly into their core products and user experiences. This is not a new concept; retailers such as Tesco launched their own credit cards in the Irish market in the early 2000s. With EmFi, the retailer takes charge of product sales and marketing, while third-party tech vendors handle product development and regulated activities. This division allows the retailer to concentrate on their core business activities while reaping the bene ts of o ering nancial products.
What are the benefits of adopting Embedded Finance for Irish retailers?
Today’s leading retailers are exploring EmFi as a means of achieving strategic growth. This presents them with the chance to generate additional revenue streams, primarily through interchange, lending and referral fees. Moreover, retailers can enhance customer satisfaction and loyalty, thereby boosting the overall lifetime value of a customer. This is achieved by encouraging larger purchases and more frequent visits to physical stores. Embedded nance o ers increased visibility into customer data, providing valuable spending insights both on and o the retailer’s platform. This heightened understanding enables retailers to optimise their services and better cater to the evolving needs of their customers.
EmFi also o ers possibilities to decrease the expenses associated with internal nancial operations, such as reducing annual banking fees like the merchant discount rate. It also allows for the digitisation of physical cash, reducing the cash conversion cycle and improving the security of the physical cash handling process at the retail outlet.
What are the Embedded Finance applications that could be relevant to Irish retailers?
The range of nancial products that leading retailers are o ering today is quite extensive, and includes staples such as bank
accounts, debit and credit cards, loans, and investments. Their suitability is contingent upon factors such as the retail business’s nature, the scale of its customer and supplier base, and the level of trust associated with the brand. For retailers aiming to boost revenue, providing working capital solutions to their supplier base stands out as a particularly lucrative opportunity. Another avenue for further monetising existing consumer relationships involves issuing branded debit cards.
We believe that the answer to this question will be yes for many Irish retailers as there is no doubt that EmFi o ers signi cant bene ts to early adopters who get it right.
Most Irish retailers are poised to seize these bene ts, given their substantial customer base and the trust they enjoy among consumers. In addition, the high level of consolidation in Ireland’s nancial sector leaves consumers and businesses with few options for nancial services, creating an obvious opportunity for Irish retailers to step in. Established retailers in Ireland will nd themselves sidelined by the next generation of consumers if they ignore the EmFi trend and will no doubt miss out on a golden opportunity to solidify their relationships with their existing customer base.
Our Strategy team have produced an in-depth report exploring the coming revolution in embedded nance – follow the QR code to read in full.
KPMG provides end-to-end FinTech services from strategy to implementation. Combining our industry insights and cross functional experience, our team of strategy, risk compliance, tax, audit, and emerging technology professionals are ready to help you.
2023 was a year full of HR and Employment Law news. There were several new laws introduced, each bringing an array of changes and updates that imposed action on employers. As we now enter 2024, it’s worth taking time to reflect and ensure that you have, as an employer, kept on top of all these new laws and made the appropriate changes to your HR documents and systems to capture these new requirements
Towards the end of 2023, the main topics of concern among our clients were Cost Management in 2024 and the ongoing difficulty to attract and retain talent.
It’s clear now the Government intend delivering on the commitment to a Living Wage, which is currently calculated at 60% of the median wage. This has led to the National Minimum Wage (NMW) moving to €12.70 per hour since January 1st 2024. It’s important to note that we would expect Government to announce a further increase towards the end of 2024. The rising base hourly rate for workers has not peaked.
Added to this cost is the announcement of an increase in PRSI costs, the increase in Statutory Sick Pay (SSP) available to employees in 2024 to 5 days, and the introduction of auto-enrolment pensions which is currently expected in Autumn 2024. This entitles qualifying employees to a 1.5% pension contribution from their employer. Let’s not forget the di culty of managing wages for those just above the NMW,
who likely won’t receive the same percentage increase they see colleagues, who are possibly less experienced, receiving.
More than any other year, we are seeing the increases in costs for 2024 having real and tangible impacts on jobs, opening hours, rosters and the wider perks/bene ts employers are o ering.
Many employers cannot increase their overall wage bill so have no choice but to nd e ciencies to keep their business operational with less employee hours. Areas like store opening hours, Sunday rate, paid breaks and overtime premia are being reviewed. Technology such as automated tills and electronic SELs are being considered.
If any employer needs to make cuts to hours or possibly jobs, please seek advice as employment and contract law does have protections in place for employees. Don’t presume that just because the gures make sense, its automatic that the law will view certain decisions as fair or legal.
We can only recommend that all employers face the challenge of rising costs head-on and with a full and proper review and plan, and we are happy to support as needed.
Despite the di culties outlined above and the constraints that increased costs may impose, it is critical that employers continue to focus on what sets them apart as a business and an employer.
We tend to focus, and correctly so, on what our customers want and need. We should also ask what employees want and need. What would you like your employees to say if they are ever asked about their job?
Is your business a good place to work? Do they nd their job ful lling or not? Logically, employers would want positive comments, is any real e ort being made to support this?
If you want to maximise the likelihood of positive employee experience, some simple and coste ective tips to build into your 2024 HR strategy are:
• Communication
Keep lines of communication with your team open. Make sure you are open with them and that they know they can talk to you. It starts with instant feedback on good work performance or when you notice obvious progression. A compliment or simple ‘well done’ goes a long way! Moving beyond day-to-day interactions, make sure that periodically you catch up for a more structured
review to give direction to your colleague’s career. This may be via an annual appraisal or ideally 2 or 3 times a year. If you are ever underwhelmed by a colleague’s performance, it’s even more important to talk to them. Don’t wait until there is a more serious issue. Pick the right moment, and of course, follow good HR practice but talk to the employee about your disappointment or frustration and how you can work together to x the issue. We regularly work with clients conducting exit interviews for departing team members. A lack of proper communication from management is a consistent top 10 factor cited as a reason for leaving a workplace.
• Training & Skills Development Employers should always strive for improvement. Facilitating each colleague to ‘get better’ is key to this. The more you educate, inform, and train your team, the happier and more comfortable they tend to be in their role. They are also better equipped for the work they do, so tangible results are likely to be seen. Prepare internal or external training, either on the job with more experienced colleagues or with external providers. Topics
for training are vast. Examples of the most relevant training topics for the retail sector include:
• Sales
• Merchandising
• Security
• Customer service
• Dignity at work
• Health and Safety
• Management skills (including on the aforementioned communication)
• Time Management
Create an internal training programme with internal champions of your business. This has minimal cost and is exible to arrange. Use the existing skills of your team to teach younger or newer colleagues. Use external professionals for speci c skills that may not exist within your organisation. Training and development keeps your employees interested, focused on their role within your organisation, minimises internal issues and improves the bottom line. In a time of heightened costs and a tough job market spending time on this is well worthwhile.
As always, we are available to support REI members who may have any questions regarding the above and we are happy to discuss any HR topic with you in further detail.
Tom Smyth & Associates.P: 021 4634154
E: info@tsaconsultants.ie
W: www.tsaconsultants.ie
These notes are prepared for general guidance only and are correct at time of print. As always, we recommend employers seek direct advice on any matters of concern.
Please note all information above is correct at time of print. This brie ng is for general guidance only and should not be regarded as a substitute for customised, situational advice. Such advice should always be sought before acting on any of the matters discussed.
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