The retail industry has certainly been one of the hardest hit by the economic effects of COVID-19. With many retailers deemed “non-essential,” they’ve suffered from months of closure during lockdown. They’re now doing what they can to recover since their reopening.
Victoria Molloy, CCO of Support Revolution, explains why so many retailers are switching to third-party support to make vital savings in the immediate future, in the third episode of our Third-Party Thursdays series.
Watch this episode
The same pattern has emerged over the last couple of months with the retailers Victoria works with. For example, one recent customer of ours had previously looked at third-party support. Then the lockdown caused their shops to shut, losing 80% of their revenue in three months, so they decided to revisit the option of third-party support.
We achieved immediate savings of 50% on their support bill. This unlocked extra funds they needed to open up two more stores. They brought back furloughed staff and started to generate more revenue.
Build your business case
If you’re a retailer that is recognising a similar pattern in your own company, read our guide. It shows you how to build a business case and enable your organisation to save vital funds during these trying times.