What to expect in 2024: Challenges and opportunities for retailers

What’s in store in 2024? 

That’s what retailers (and consumers) are asking as they are catapulted into a new year. Many challenges of the early days of the pandemic have settled — inventories have leveled off and people are shopping both in-stores and online.

However there may be trouble on the horizon. A number of large, household name retailers are standing on the edge of bankruptcy. Some direct-to-consumer companies, once seen as disruptors in the industry, are heading on the same path as macroeconomic pressures intensify and capital gets harder to find.

The consumer is still wrestling with the impact of inflation and credit card delinquencies are rising.

itim Group plc (LON:ITIM) is a SaaS-based technology company that enables store-based retailers to optimise their businesses to improve financial performance and effectively compete with online competitors. Itim adds retail value by helping multi-channel retailers optimise their business and their stores to improve financial performance and compete more effectively with the “Amazons”.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
itim Group plc

More articles like this

itim Group plc

AI-powered logistics is transforming e-commerce

In a world of shipping delays and supply chain challenges, AI-driven logistics are now essential for e-commerce survival. Learn how leading retailers are leveraging AI for faster, more reliable deliveries.

itim Group plc

itim Group reports strong progress, significantly ahead of market expectations

itim Group plc (LON:ITIM), a SaaS based technology company that enables store-based retailers to optimise their businesses to improve financial performance, is pleased to announce an unaudited trading update for the financial year ended 31 December 2024. Highlights ·    Revenues increased to £17.9m* (2023: £16.1m)

itim Group plc

Retailers set for a transformative year with AI-driven growth

In 2025, retailers leveraging AI could see a breakthrough year. Deloitte predicts AI will boost sales and drive efficiencies, giving a competitive edge in a growing market. Embracing AI is essential for success in the evolving retail landscape.

itim Group plc

Retail media unlocking new growth paths

Discover how retail media is evolving beyond point-of-sale strategies to unlock greater success through partnerships, data insights, and engaging content.

itim Group plc

Retail trends retailers must prepare for in 2025

Retail reflects human behaviour in its full complexity, evolving in step with societal changes, emotional triggers, and technological advancements. As we look to 2025, the retail industry stands at a crossroads, shaped by global uncertainty, changing