Inflation has had a severe impact on retailers -- and 72% plan to raises their prices within the next six months, according to the Impact of Inflation on Retailers in 2022, a study by GetResponse.
One likely reason is that 89% have suffered an increase in their supply-chain costs in the last half year. The main problems are:
At the same time, some have suffered reduced sales. Of those polled, 46% have seen a drop in the past six months, while 32% have not seen any change and 22% have experienced an increase.
Meanwhile, 60% of retailers plan to switch entirely to online selling in the second half of 2022, while 28% will keep their online-in-store ratio as it is now. And 9% will focus on physical selling.
To drive sales, 51% will offer more discounts, while 30% will keep them at the same level, 11% are not sure and 8% will provide fewer.
In addition, 66% will focus more on the customer experience in the next six months.
Only 28% plan to increase their marketing budgets in that timeframe, 445 will keep them as is and 28% will cut budgets.
GetResponse surveyed 500 retailers and online store owners located in the U.S. in July 2022. The respondents included C-Level Executives (23%), Owner or Partner (69%), or President/CEO/Chairman (8%).
Of this sample, 50% sell their products both online and offline. Online-only retailers accounted for 43% of the group, and offline only accounted for 7%.