"A new research report launched today by leading retail consumables specialist CCS McLays, in partnership with Retail Economics, has uncovered a £276m hidden cost opportunity in UK fashion retail, driven by widespread mismanagement of Goods Not for Resale (GNFR). The report, From blind spot to retail advantage: How GNFR is reshaping profitability in UK fashion retail reveals that UK fashion retailers could achieve an average 7% reduction in GNFR costs through a more systematic and strategic approach."
"This long-overlooked blind spot translates into £276m in sector-wide savings (Fig 1 below), flowing directly to operating profit and equivalent to the profit generated by £5.9bn in additional sales - without the need for new stores, additional staff, or expanded channels. GNFR includes the products and services retailers rely on to keep operations running but do not sell to customers, such as packaging, store consumables, point-of-sale (POS) materials, and office and IT supplies."
Widespread mismanagement of Goods Not for Resale (GNFR) in UK fashion retail creates a £276m hidden cost opportunity and can be reduced by an average of 7% through more systematic, strategic management. GNFR covers items such as packaging, store consumables, point-of-sale materials, and office and IT supplies used across stores, warehouses, and ecommerce. Savings from improved GNFR control flow directly to operating profit and equate to the profit from £5.9bn of additional sales without new stores or staff. Leadership buy-in, limited resources, and supplier market structure are key barriers to improvement.
Read at London Business News | Londonlovesbusiness.com
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