Following a difficult final trading quarter of 2019, new research has found that less than half of SME retailers think they will be thriving at the turn of the next decade.
The research by innovative finance solutions provider, Duologi, found that just 46% of small and medium sized retailers (SME) retailers think their business will be successful in 2030.
One in 10 retailers said they worry that they simply cannot keep pace with the demands of the rapidly evolving retail industry, with a quarter (24%) citing keeping up with new technologies as their biggest challenge over the next 12 months.
Those in the sports and leisure (57%), jewellery (54%), electrical (53%), health and beauty (53%) and fashion (45%) industries all cited new technologies as their greatest challenge in the next year of trading.
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