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
- Franchises
- Supermarkets
- 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 Advisory Services
Retail Industry Challenges and Trends
E-commerce Boom
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.
Cybersecurity
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.
Technology
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.
Leadership
Insights
Internal Controls in a Retail Store
Share Originally Posted on May 28, 2014 Strong internal controls are an important component in helping Retail Store Businesses reduce possible fraud usually caused by employee theft and customer shoplifting. […]
Embracing E-Commerce as the New Norm
Share The COVID-19 pandemic has impacted jobs, remote learning, an increase in cooking and fitness at home, and a large increase in e-commerce among all industries. With stores being closed, […]
Managing Cash Flow for Restaurants and Retailers
Share Cash Flow Forecasting and Managing Debt Compliance are on the High Priority list for Most Companies. Liquidity, timing of collections, contractual obligations, how to work with vendors and customers […]