VISA Global Industry
The retail industry has experienced tough conditions over the past 5 years thanks to weak economic growth, unstable financial markets and a growing shift to online shopping. Consumer sentiment has been volatile and household discretionary income has declined. People are saving more and are increasingly careful with their money. A trend towards bargain hunting and focusing on buying value for money has emerged. Local retailers are facing intense competition and price pressures from the influx of cheaper imported goods as well as the presence of boutique online stores. Companies that are performing the strongest are embracing technology, opting for a Just-In-Time business model and adapting to changing consumer trends. The impetus to ensure product availability to meet demand both in-store and online is the main supply chain challenge of this industry.
VISA Global Logistics