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Are UK Retailers Managing Risk?

RISK N HIGH ST ARE UK RETAILERS MANAGING RISK? How are the UK's retailers managing risk, if at all? Allianz Insurance, parent company of Premierline Direct, surveyed UK small retailers to find out. BIGGEST PERCEIVED RISKS 37% 26% BAD 15% LAUNCHING /OWEATHER CUSTOMERS NOT PAYING UNSUCCESSFU 23% 13% SATISFIED KEEPING CUSTOMERS BEING LET DOWN BY TOP RISK CONCERNS RISK MOST FEARED RISKS AMONG RETAILERS MOST ENCOUNTERED RISKS AMONG RETAILERS CREDIT RISK.. NATURAL WEATHER DISASTERS...... 40% NATURAL CATASTROPHE........ CLIENTG/CUSTOMERS NOT PAYING....... 35% CUSTOMER SATISFACTION.......27% 23% SUPPL IERS NOT PROVIDING GOODS ON TIME........... .84% ..............31% PRODUCT DEVELOPMENT SUPPLIER/OUTSOURCE FAILURE. FAULTY GOODS....... 21% ACCIDENTAL DAMAGE..... .21% .21% 18% PLANNING FOR RISK Shopping List 2 in 3 retailers have experienced something that had a substantial negative impact on their busines.. yet risk is high on the list of priorities for less than half... Not a priority 8% Significant priority Don't know 16% 47% 29% Slight priority and even feweralways plan ahead after experiencing a niegative incident 2% No change nahead Somenhat plan 18% 31% 15% yust plan fo avoid Same incident HOW RETAILERS MANAGE RISK 40% 35% Managing debt more stringently 24% Managing suppliers more carefully 13% Speeding up payments Talking to insurer/broker for advice None MANAGING RISK FOR GROWTH HANG IN Innovation stimulates growth, but trying new things can be risky. THERE & GIVE ITA FAIR CHANCE For our guide on how to reduce risk whilst innovating, visit dgelexpert-tips-and-guides/2013/8/ how-to-reduce-risk-while-innovating BALANCE YOUR BUDGET 3. ESTABLISH SAN INDEPENDENT PROJECT TEAM ABOUT Top 5 tips to reduce risk whilst innovating OUTCOMES RESEARCH YOUR OPTIONS SOURCES: Allanz Risky Business Report, 2013 ( One Poll ontine survey of 500 buainess leaders, 2013 "Research based on a survey of over 60 UK businesses, including 33 hospitality and 29 retailers premierline direct BUSINESS INSURANCE A company a Allane

Are UK Retailers Managing Risk?

shared by equimedia on Nov 01
An insight into how and if UK retailers are managing risk. The infographic, created by Premierline Direct, visualises the biggest perceived risks, top risk concerns, planning for risk, how retailer ma...


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