Retailers' Strategies to Tackle Inflation

Inflation is on everyone’s radar, impacting everything from daily essentials to production costs. Price hikes can strain consumers’ wallets and squeeze retailers’ profits.

For retailers, raising prices may seem like the first line of defense, but it risks losing customer loyalty in a tough economy.

Here are six savvy strategies to bolster your inflation defenses:

Negotiate with Vendors

Don’t accept price increases blindly! Challenge vendors to justify their costs using the Retail Smart Guys Vendor Scorecard.

Optimize Inventory Management

Avoid overstocking or understocking by leveraging our monthly open-to-buy plans for precise inventory control—turn that stock faster during inflation!