Tips for Retailers and Grocers Navigating Inflation and Supply Chain Issues
A trip through the checkout line at a supermarket or retail store makes it pretty clear that inflation is real, and it seems to be here to stay. As both consumers and retailers, we just can’t seem to escape the rising cost of goods. In fact, according to McKinsey & Company, inflation hit nearly 8.5 percent in March 2022, its highest level in 40 years.
As consumers are slammed with price changes driven by increasing costs, retailers themselves are also paying more for the retail merchandising supplies they need to operate. Add in the uncertainty of product availability caused by supply chain issues, and retail stores are navigating a challenging and constantly shifting environment.
So how can retailers make small changes to their operations to ease the burden on their bottom line? How can retailers ensure that they’ll have the merchandising supplies they need, when they need them? These tips for navigating inflation and supply chain issues are sure to save both money and stress.
In today’s environment, production delays, unpredictable shipping times and supply chain disruptions can combine to form the perfect storm. Lead times are increasing. But there’s a solution.
To ensure that you have the retail label and signage supplies you need in hand, when you need them, our best advice is to order early. With some forward-thinking and planning, in the best-case scenario, your merchandising supplies will arrive early. But more importantly, in the worst-case scenario, it will arrive on time.Lock In Pricing on Grocery Labels and Signage
If there is one truth in today’s retail environment, it is that prices will go up.
Inflation isn’t going away anytime soon. The supplies you need will be more expensive to purchase in the future than they are today. While the size of a retailer’s order is sometimes decided by storage capacity, we recommend increasing order quantity for frequently used supplies like point of purchase signage, custom labels for packaging and price signs for retail.
Take an inventory of the supplies you use with frequency. What are you reordering often? With prices constantly changing, maybe it’s price signage, or retail sign holders, or point of purchase grocery signage that educates consumers about the benefits of a store brand.
The benefits to placing larger orders are twofold—you’ll insulate yourself from price increases by locking in today’s price point, and you’ll guarantee that you’ll have the necessary supplies on hand, regardless of supply chain issues that might be lurking in the distance.
At Shelf2Cart, we honor price quotes for 30 days. As paper prices change daily, that could translate to a significant savings. While larger orders undeniably require a larger investment up front, it can result in a sizable savings in the future.