The landscape: While retailers struggle to keep costs in check, they’re also having to consider raising wages to attract and retain workers given the tight labor market. Moreover, without adequate staffing, they may not be able to deliver a quality customer experience.
Merchants that fail to boost wages can face significant challenges.
Workers have leverage: While the labor movement is losing momentum, workers continue to have significant leverage over employers given that the unemployment rates in the US, UK, and continental Europe are near all-time lows.
Retailers respond: The tight labor market has driven several retailers to make worker-centric changes.
The big takeaway: Consumers aren’t willing to put up with a subpar customer experience.
This article originally appeared in Insider Intelligence's Retail & Ecommerce Briefing—a daily recap of top stories reshaping the retail industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.
11 Times SquareNew York, NY 100361-800-405-0844