What Are the Challenges Faced by Retail Entrepreneurs?
Retail entrepreneurs face several challenges, including:
High Competition: The retail sector is highly competitive, with numerous players vying for market share. Changing Consumer Preferences: Keeping up with evolving consumer tastes and trends can be daunting. Inventory Management: Efficiently managing stock levels to avoid overstocking or stockouts. Technological Disruption: Adapting to new technologies like AI and IoT to enhance customer experience. Regulatory Compliance: Navigating through various legal and regulatory requirements.