What's the Easiest Way to Save £250,000? A Guide for UK Retailers
In today’s fast-paced retail environment, every penny counts. Whether it’s cutting down on unnecessary overheads, negotiating supplier terms, or finding innovative solutions to cut costs, retailers are always on the lookout for opportunities to bolster their bottom line.
Saving money often requires a blend of creative thinking, judicious decision-making, and embracing technology. For UK retailers, here are a few strategies you are likely already working on, or could consider, to shave your costs:
Optimise your inventory: Streamline stock levels to avoid over-ordering and holding costs. By adopting just-in-time inventory management, you can keep your stock at optimal levels, saving storage, insurance, and depreciation costs.
Rethink how your staff are used: Utilising staff effectively during peak times and reducing hours during lulls can make a significant impact on annual wage bills.
Look at in-store self-checkout: The cost of in-store self-checkout equipment has plummeted over the last 5 years, with many systems available for very little up-front investment. These have the capability to drive larger basket sizes, but also reduce your staffing levels at any given time.
But what if we told you there’s an even more straightforward method?
A solution that requires minimal effort and offers significant savings, specifically in the energy sector…
Introducing EMMA AI: The Future of Energy Management
EMMA AI gives you the power to significantly reduce your energy consumption with no upfront capital expenditure, nothing to install and no increase in staff! With the ever-rising energy costs and environmental concerns, EMMA AI is an indispensable tool for those looking to stay ahead.
Here’s how EMMA AI can be the key to unlocking £250,000 or even more in savings:
In-depth Energy Analysis: EMMA AI’s platform thoroughly analyses your energy bills. Instead of vague monthly charts, it breaks down consumption patterns, highlighting wastage in real-time and telling your employees what to do about it.
Direct Employee Notifications: Knowledge is power. Instead of merely presenting the data to management, EMMA AI goes a step further. It directly informs employees about areas of waste and offers actionable recommendations on how to reduce it.
Competitive rankings: EMMA AI handles energy saving across all your sites and keeps a record of which stores are saving the most. Many retailers use this to drive competition and offer quarterly prizes or benefits to those that top the leader boards.
Ongoing Monitoring: The platform doesn’t just provide a one-time solution. It consistently tracks energy usage, ensuring that best practices are maintained, and any new wastage is promptly addressed every day of every month.
For instance, imagine your HVAC system operates even after working hours, or lights in less-frequented sections of your stores remain on. Such oversights can lead to thousands of pounds in wastage annually. EMMA AI can identify and rectify these gaps without you needing to do a thing – other than save!
The Bottom Line
When we discuss savings of £250,000, it might sound like a lofty goal, but savings like this are easily achievable. You can read in their own words how Betfred, for example, is doing just this. Add link.
Incorporating EMMA AI into your strategy not only presents an opportunity for substantial cost savings but also paves the way for a greener, more responsible retail message. As more and more consumers value sustainability and environmental responsibility, embracing platforms like EMMA AI can also bolster your reputation, marketing and brand image.
In the quest for efficiency and savings, let technology be your ally. Dive into the world of EMMA AI and see the difference it can make to your bottom line.
EMMA AI requires no upfront capital outlay, meaning you start to save from day one. To see how big your savings could be, we’ve put together a simple online Return On Investment (ROI) calculator.