A rise in GST will mean overnight price changes on 1000’s of items for retailers
The governments proposed rise in GST, from 12.5 per cent to 15 percent, is already beginning to give some retailers a headache as they decide how they will best action an overnight price change in preparation for the jump in GST, expected to take effect from October 1st this year.
Major retailers such as The Warehouse can carry close to one hundred thousand products on their shop floor – changing the price tags on this volume of product is not only time consuming but estimated to be extremely costly.
Penny Newbigin, spokeswoman for Progressive supermarkets, said changing price tags on shelves in its 150-odd stores would be a major project. “When we set up a new store it takes eight people working fulltime [for] two weeks to do all the physical pricing for every item in store and we’ve got to multiply that by 150 stores and change it overnight. We won’t have the luxury of two weeks.”
Read more on this topic at http://www.stuff.co.nz/business/industries/3328258/Stores-fear-repricing-nightmare
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