{"id":1844,"date":"2022-11-20T18:45:35","date_gmt":"2022-11-21T02:45:35","guid":{"rendered":"https:\/\/www.agiliron.com\/blog\/?p=1844"},"modified":"2025-11-17T04:00:34","modified_gmt":"2025-11-17T12:00:34","slug":"how-inflation-is-impacting-retail-businesses-and-what-you-can-do-about-it","status":"publish","type":"post","link":"https:\/\/www.agiliron.com\/blog\/how-inflation-is-impacting-retail-businesses-and-what-you-can-do-about-it\/","title":{"rendered":"How Inflation Is Impacting Retail Businesses and What You Can Do About It"},"content":{"rendered":"

Your guide to navigating the inflation situation.<\/strong><\/h2>\n

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\"YourSource<\/span><\/i><\/a><\/p>\n

Inflation is on the rise, and it’s impacting <\/b>retail businesses<\/b><\/a> everywhere. The rate of inflation is at its highest rate since 1981\u2014and it\u2019s starting to affect the way people shop.<\/b><\/p>\n

The good news is that consumers are still willing to spend, with industry experts projecting up to an <\/span>8% rise in retail sales<\/span><\/a> in 2022.<\/span><\/p>\n

But while retail and eCommerce sales are still pretty buoyant, further uncertainty and the looming threat of recession could create issues for retailers in the coming months or years.<\/span><\/p>\n

By understanding the situation and knowing how to navigate it, you can steer your retail ship toward a bright and profitable future.<\/span><\/p>\n

Let\u2019s dig into the<\/span> inflation situation<\/span> and what you can do to weather the storm.<\/span><\/p>\n

How inflation impacts retail<\/strong><\/h2>\n

Inflation is an economic factor dictated by the price of goods and services within a certain economy. Some of the key goods or services that impact inflation rates are <\/span>consumer products, food, energy, transport, and medical care.<\/span><\/i><\/p>\n

Within the last 12 months alone, the overall price of food rose by 9.4% (meat, eggs, and poultry saw the most significant rise), and piped gas shot up by 22.7%. Meanwhile, gasoline inflated by a <\/span>head-spinning 48%<\/span><\/a>.<\/span><\/p>\n

These tough economic shifts are collectively contributing to the record-breaking rate of inflation we\u2019re facing today.<\/span><\/p>\n

Retailers are feeling the squeeze<\/strong><\/h3>\n

As a retail or eCommerce business, it\u2019s likely you\u2019re feeling the squeeze. In addition to increased operating costs and many consumers realigning their shopping priorities to stay above water (overall spending power across generations is down), the current inflation situation<\/span> is creating increasingly choppy waters because of:<\/span><\/p>\n