Plenty of fighting spirit is what’s needed to combat a difficult year, says Fonehouse managing director Clive Bayley, with businesses keeping a very close eye on cash flow
“Provided the euro remains intact and there are no international wobbles, it’s going to be a tough year. Most of the people I know in this industry are fighters and entrepreneurs, so I can’t imagine a minor detail like this will put them off having a good go. That’s the spirit required this coming year – stamina, creativity and good old British fighting spirit.
“This will have to include being lean and mean, creative and watching the cash flow like hawks as credit may be difficult for both businesses and the consumer. We will see value deals for the have-nots and value deals for the haves, as they will be trying to hang on to what they have.
“The networks will compete strongly with each other to retain market share while manufacturers will reduce the size of their ranging and become very clear on their distribution strategies as they will want to reduce inventory.
“Retail will be challenging in that some retailers will cut back and some will keep looking for that elusive edge and therefore change the way they do things. We will see a lot of staffing reductions and merging again as many will look at playing safe, leaving opportunity for the brave-hearted.
“The consumer will become even wiser and be very discriminating as to where and what to buy.”