Retail Insider launches ‘Diversifying Revenue Streams 2024’ report
During these tough economic times progressive retailers are increasingly exploring ways to secure additional revenues alongside their core businesses. Retail Insider is pleased to launch a report, ‘Diversifying Revenue Streams 2024’ with Webloyalty that highlights how a group of forward-thinking retailers have successfully adopted such a strategy.
We have sought out some of the UK’s most interesting retailers, straddling various parts of the industry, and asked them about how they are developing their organisations beyond their established, core revenue streams.
They have each shared their experiences about how they have pushed into myriad new areas such as advertising, DTC (Direct-to-Consumer), subscription services, marketplaces, loyalty programmes, collaborations, and moving into aligned sectors such as hospitality.
We are pleased to have contributions from: Aron Gelbard, co-Founder & CEO of Bloom & Wild; Lara Chant, co-founder of Brityard; Kresse Wesling CBE, co-Founder of Elvis & Kresse; Chris Portwood, chief sales officer of COOK; Andy Smallwood, CEO of Ribble Cycles; Paul Wright, head of advertising for UK & Ireland at UBER; Monty George and Dan Beckles, co-founders of Furniturebox; and Cas Paton, founder & CEO of OnBuy.com.
The report is a good indicator of the activity taking place in the retail industry by progressive operators who are not bound to their original models but are bold enough to develop their businesses into new areas.
We hope the report highlights the opportunities as well as the challenges involved with adding new revenue streams. It does not always work for every new stream but as the report shows there is great value to be had from experimenting and finding those areas that work for each individual business.
Retail Insider would like to thank all the contributors to this report and to Webloyalty for its support in bringing the publication to life.
To access the report click here.
Glynn Davis, editor, Retail Insider