The Retail landscape is changing. With over 1000 high street outlets closing last year the Retail sector has to be even more price conscious than ever before.
As the trend moves towards shopping online, high street stores are relying on reducing costs wherever possible to remain open. The Daily Telegraph on (Wednesday 2nd January 2019) reports that retailers have suffered in the key Christmas trading, with Boxing Day falling for the third consecutive year by 3percent.
Energy is the 3rd highest cost to retailers next to property and personnel. So it’s no surprise that the desire to keep utilities costs down is high on the agenda for Retailers. With reports of companies having to end popular discounts on clothing and food it shows that Retailers are really feeling the pinch. Expensive rental on high streets stores, rising costs of produce and the ever increasing cost of utilities are all impacting Retail organisations now and for the foreseeable future.
Whilst clever procurement strategies ensure competitive prices prevail Retailers can be even more proactive with their desire to reduce utilities cost across their estate by employing energy efficiency measures, such as installing AMR meters and sub-meters, at competitive rates. These devices alone can visibly show how much and where energy is being used within the store portfolio and can identify opportunities to reduce consumption and cost. According to the Carbon Trust a 20% cut in energy costs can represent the same bottom line benefit as a 5% increase in sales.
So what does energy efficiency look like for Retailers; how can they reap the benefits of the 20% reduction in cost and in return, remain competitive and stay open on the high street?
1. Going back to basics: Having the same Suppliers in place for years makes it easy to become complacent, especially if switching providers seems like too much hassle. Well-established energy efficiency programmes can leave one feeling there are no further savings to be made but reviewing your current service providers can provide good, alternative options that should not be ignored.
2. Remember the other utilities: Reducing electricity usage is often top of the list of energy management objectives, but monitoring your gas and water consumption can also provide savings opportunities. Ensure you are not paying for water leaks or using tariffs that are unsuitable for your requirements or property types.
3. Get all your energy data in one place: The ability to easily view and examine your retail sites’ energy usage in a simple graph should not be underestimated. Having all your energy data points collated in visual formats ready for comparison makes it easier to benchmark sites and replicate successful energy efficiency measures.
4. Consider adoption of your meters: This can be an easy way to save money, particularly if you have not reviewed your metering provider for many years. Some Retailers believe switching provider also means installing new meters at the cost of closing stores. However, IMServ is able to adopt your existing metering setup, ongoing maintenance and data collection to provide your energy consumption data at a competitive price. Our in-house experts also manage the end-to-end process for you to deliver a best in class service provision certified by the Institute of Customer Service.
We can help you:
IMServ is the longest serving, independent Meter Operator and Data Collector, which has provided energy data services for over 26 years, operating a robust meter adoption process in a mature electricity market.
Our core business is managing electricity meters and energy consumption data. We manage the end-to-end process with no extra cost. We recognise from speaking to our customers that you want the experts, who value customer service, to deal with the end-to-end meter transition process. This is what we do every day. Our dedicated team of individuals will actively manage your meter adoption processes to provide you with simple access to your energy data – IMServ does all the work and you make the savings!
Compare what you are currently paying with your existing provider against what IMServ can offer you, what have you got to lose?
It’s easier than you think.
Contact us today to find out how we can reduce your energy costs, by easily changing your utility metering and data collection services over to IMServ.