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How The Retail Industry Responds To Uncertainty

NEST IFM View NEST IFM

June 03, 2022     1 minute read

Buzzwords such as supply chain, labor shortage, labor costs, inflation, and gas prices have flooded media headlines in 2022. Following recent earnings reports, these external factors are cited by many CEOs across the retail industry. Non-revenue producing departments are often hit the hardest, causing uncertainty and frustration among the workforce. Some sectors continue to thrive. But for those with many question marks, FM teams can be forced to make cuts. This is where NEST can help.

In addition to navigating the worst of the pandemic when over 90% of our retail partners closed in 2020, we saw similar uncertainty in the housing crisis of 2008 and in the months following 9/11. During all of those difficult periods, we assisted our retail partners to weather the storm then, and this time is no different.

An integrated FM solution doesn’t replace facility management departments; we become an extension of their operation. Our model exists to lower costs and improve efficiencies while maintaining a high quality of service.

Outside of our philanthropic endeavors, I’m most proud of the work we do for companies trying to navigate difficult times. The savings and efficiencies our services provide can help retailers prevent layoffs and strengthen their relationships with customers.

Retailers must prioritize the customer experience during any period of budget cuts. Brand loyalty and creating a positive experience are critical to keeping customers coming back to brick-and-mortar stores. NEST connects KPIs to customer satisfaction and we help retailers utilize our data and expertise to make smart financial decisions.

My father founded NEST in 1994, utilizing the acronym “Negative Expense Systems Technology.” His goal was to bring financial acumen to the facilities world using custom systems and tech. He was ahead of his time. Today, we team up with some of the world’s largest retailers to reduce their expenses via advanced technology that we could have only dreamed about 25 years ago. In the face of uncertainty, we’re here to help.

To learn more about NEST or to receive a free audit of how NEST can save you money, reach out to me on LinkedIn.

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