Retailers are facing more challenges than ever to stay competitive while maintaining strong profitability. Constant shifts in consumer demands, increased e-commerce and heightened cybersecurity are top-of-mind trends for retail leaders. Withum’s Retail Services Team has extensive experience in the marketplace to guide you through any operational, financial and management challenges.
After a period of rapid, creative pivots and changing business models, many retail companies are left with open-ended questions in unchartered waters. Whether you are looking for a franchise tax expert, retail accounting services or e-commerce auditors, our business advisors can assist. Withum’s Retail Services team members are tested, skilled professionals with deep industry expertise to keep you compliant, offer tax-saving strategies and deliver integrated business technologies.
Who We Help
- Brick and Mortars
- E-commerce Companies
- Health and Fitness Centers
Retail Accounting and Advisory Service
Retail Accounting Services
- Accounting and audit
- Federal, state and local tax compliance
- Sales and use tax
- Outsourced accounting systems and services
- Inventory valuation and control
- Cash flow analysis
- Assistance with initial franchise acquisitions
- Due diligence and return on investment analysis
- Review of franchising documents and non-compete agreement
- Royalty audits
Retail Industry Challenges and Trends
Consumers now purchase most of their grocery, apparel and take-out purchases online. However, for retailers, this presented a challenge between employee shortages and increases in product demands. As a forward-thinking, technology-driven firm, Withum’s Retail Services Team is experts in digital transactions.
Retail online sales make companies more vulnerable to cyberattacks. Retailers are vulnerable to threats on their computers and Point of Sale Systems (POS), making it crucial to have security measures that prevent detrimental breaches. Let Withum’s advisors guide you through protecting your company, employee and customer data.
The retail experience is constantly evolving with cashier-less stores, autonomous delivery systems and contactless point of sale systems. As brick and mortar shops compete with online storefronts, it is important to remain up to date with the latest technology advancements for the best customer experience. Withum provides proactive solutions to help retail businesses remain ahead of their competition.
For more information or to discuss your business needs, contact Withum’s Retail Services Team.
Self-service is becoming increasingly preferred in B2B e-commerce, with 99% of buyers willing to make a purchase in an end-to-end digital self-service model. This allows customers to place orders and […]
Amidst the Covid-19 pandemic, e-commerce companies experienced remarkable growth, driven by significant shifts in consumer behavior. With remote work becoming a necessity, organizations and their employees turned to online platforms […]
In the past few years, people have become more accustomed to the digital world, and the demand for businesses to provide instantaneous, painless, and individualized buying experiences on their online […]