The US Retail market is demonstrating growth not decline
KFP Blog - July 12, 2018
Recent reports have shown that the global retail industry is actually growing, although steadily; this has been down to many global stores, downsizing to what they regard as "the right size" to fit their current operations.
In the past, retail stores would look at store expansion as a method for growing. The industry has identified that expanding too fast is one of the reasons why brands are downsizing, not because retail is failing, but stores have been taking a more modest approach to retail. Retailers will aim to grow only once a new market or product development is identified.
This is a different story In the US as retailers have consistently added an average of 160 million square feet of store space every year since 2008. It has also been noted that the US is also backed by high consumer confidence, therefore confidence in spending more money in stores. Consumers in the US also benefit from a strong economy. Figures have shown that even unemployment has fallen, which does often have a positive effect on store performance and retail sales. Year on year growth has also been identified because of the holiday season.
With global retail confidence high, there is always an opportunity for retailers to expand their stores and increase their sales. Whilst some stores may be downsizing their operation, for now, others will be looking to expand their presence by opening more stores, often in other markets. KFP IT specialises in a full IT infrastructure support service providing you with expertise in store planning, IT network design, hardware build and configuration. We ensure that your store is fully operational with the minimalist of disruptions. We also work with leading global vendors, offering the latest cutting-edge POS systems. If you are looking to roll out the latest registers, new credit card devices, and mobile/Tablet POS systems, we will help you achieve this. Get in touch with us today.