They also tell which promotional strategies are working, and which aren’t.
A recent BDO survey of 100 retail finance chiefs gauged their sentiment on the current retail climate and also asked what risks concern them most for 2016, CFO magazine writes. The article lists the top six risks cited by the survey respondents, including:
- Competition and consolidation in the retail sector (29%)
- Federal, state and/or local regulations (21%)
- Geopolitical events/natural disasters (20%)
- Protection of customer data from potential breach (15%)
- U.S. and foreign supplier concerns (8%)
- Excess inventory (8%)
The survey, according to the article, also revealed that 22 percent of the CFOs believed that in-store promotions were less successful than any other promotional strategy in 2015, while 31 percent of them said social media and email promotions were the most successful.