Catherine Erdly is the founder of The Resilient Retail Club. She has a background in retail as a merchandiser for some of the best-known High Street retailers but now works exclusively with independent retailers and small businesses.
In this episode, we discuss what went wrong at Debenhams and Arcadia, how the buying model of the big retailers is now becoming less relevant, and how now is a good time for small and independent businesses to thrive.
- Why big retailers business models are no longer relevant
- How sourcing from China and endlessly cutting costs is not a strategy for long term success
- How small businesses and independent retailers will be impacted by the big stores closing
- Catherine’s advice on how small businesses can grow their sales
- What determines whether a retailer will be profitable
- What the right number to manufacture is when you first start out
- What might happen to the stores left empty on the High Street