Every Little Helps
So says a certain supermarket giant. But it seems this goliath isn’t playing by its own rules.
Both Sainsbury’s and Tesco profits are down, while discounters Aldi and Lidl, with their lower margins, are on the rise. Although, Sainsbury’s has the edge and outgoing CEO Justin King is putting on a brave face, it’s a worrying time for the big guys. With increasingly savvy consumers moving away from the traditional ‘big supermarket shop’ and too good to be true offers (let’s face it, BOGOF should really read Buy One Put One In The Bin), the established giants need to learn from their less gimmicky continental counterparts. In this game it’s all down to shifting volume quickly and the bottom line margin. The principles are the same for any SME. To get ahead of the competition and stay there, you have to understand it and do better. Simple, you think, but how? The answer lies in knowing what makes your numbers work, and making them work better.- Can you shave a little off your expenses here?
- Turn over that stock a little faster there?
- Get your invoices paid a few days earlier?
- Get better credit terms from your suppliers?
