Why The Great Resignation Should Be Retailers’ Biggest Worry

December 10 2021 by Greg Petro

As retailers struggle to bring consumers back into their physical retail locations, hiring challenges may be added to the litany of impediments—Omicron, ecommerce, supply chain issues—contributing to lower footfall numbers than we saw pre-pandemic.

While it was heartening to read that the majority of retailers remained closed on Thanksgiving Day again this year so that their associates could spend time with their families, how did retail workers feel about it? Does this one day off improve sales associates’ morale when faced with the impending crush of the rest of the holiday season? In previous holiday seasons, major retailers hired tens of thousands of temporary sales associates to help offset the frenzy of the season. Today, that scenario is something from a bygone era, with the Great Resignation firmly affecting the retail industry. According to CNBC, retail suffered the second highest number of quits in August—over 720,000—beaten only by the food service and accommodation industry.

The reasons cited by ex-retail employees for quitting are myriad and include long hours, random schedules, inability to take time off, low pay, and difficult customers. The axiom that the customer is always right combined with retail cultures demanding that associates go above and beyond to close the sale have not aged well in today’s world. How will retail management respond to this crisis? They will need to take action—immediately. Bloomberg reports that “the staffing issues are having an impact on [retailer’s] finances. More than two-thirds are struggling to meet sales targets due to labor problems.”

Read the Full Article at Forbes if you are a subscriber or Download the PDF below.

retailers  retail  Employees  future of retail  Future of Brands  retail stores  Employee Experience  Employee XM

DOWNLOAD THE FULL ARTICLE.

What Retail Executives Say About Supply Chain Disruption Leading Into Holiday: Shortages, Pricing and Delays

We partnered with The Wharton Baker Retailing Center to create a comprehensive infographic exploring our findings.

View the Infographic

The State Of Consumer Spending: Gen Z Influencing All Generations To Make Sustainability-First Purchasing Decisions

We partnered with The Wharton Baker Retailing Center and asked consumers in the U.S. how sustainable practices are impacting shopping habits and purchase decisions.

Read the Report
Featured Product

InsightSuite for Small Business

Specialized Tools for Small & Emerging Businesses

The fastest and most cost effective way to increase sales, profits and sell-in for growing businesses and digitally native brands.

Learn more
Free Ebook

Maximize Value, Speed & Profit

Learn how to leverage Voice of the Customer Analytics and 3D Product Creation to make more profitable products, faster.

Get the Free E-book
Roundtable Video

Kohl's Creates Value W/Predictive Analytics

Learn How First Insight's Predictive Tools Fuel Kohl's Success

As one of the world's leading omnichannel retailers with more than 1,100 stores in 49 states, Kohl's is leveraging First Insight's predictive analytics solution and voice-of-the-customer data to improve their business.

Watch the Webinar
Webinar

Consumer Sustainability Survey 2021

The First Industry-Wide Consumer Study On Shoe Sustainability

This industry-wide survey aims to create a critical baseline that brands and retailers can use to ensure they understand what consumers actually comprehend, what terms and phrases resonate best, and what areas they should prioritize.

Download the Webinar & Findings
Supply Chain & Pricing

Navigating Disruption

How The Rockport Company is Optimizing Assortments and Pricing with Data + Digital Product Testing

Learn how The Rockport Company created a new product playbook powered by the Voice of the Customer and predictive tools.

View the Webinar & Highlights