April 12, 2023 – New York, NY – Multimedia Plus (www.multimediaplus.com/), a training and communications technology company, released its seventh survey measuring the effects on pressing technology, training, and spending priorities in the retail and hospitality industries. The survey, launched on March 27, 2023 and closed on April 6, 2023 took a deeper look at what these industries are focused on as the summer season approaches. In total, 125 senior executives participated in the survey.

GREATEST CONCERNS

When asked about their greatest concern going into the summer season, more than half of the respondents (52.80%) indicated that staffing and wage issues were their top concern, followed by global events (9.60%) and banking sector concerns (8.80%). Only 6.40% of respondents cited new store openings as their main concern.

“As our survey has consistently shown, industries that rely on customer service require skilled and knowledgeable employees to effectively communicate the brand’s vision and deliver exceptional customer experiences.  Despite external challenges and global events, our latest data confirms that executives remain committed to prioritizing the human element in customer service, which is crucial for driving business growth,” says David Harouche, CEO & CTO, Multimedia Plus.

HIRING ENVIRONMENT

In terms of the current environment for hiring store-based roles, 30.63% of respondents said that positions are about the same to fill as compared to this time last year. However, 24.32% of respondents reported that positions are harder to fill than last year, while 11.71% said that they are much harder to fill. Harouche explains, “Despite the news headlines of layoffs, over 36% of our respondents in the retail and hospitality industries are finding positions harder to fill than last year.  Having an adequate number of well-trained staff in place and retaining them is a key priority.”

TECHNOLOGY SPEND

When asked about the impact of the current economic environment on their technology spend for 2023, more than half of the respondents (54.81%) reported that their technology spend will remain the same. Only 13.46% of respondents said they plan to increase their technology spend by more than 10%.

TRAINING PRIORITIES

Respondents were also asked about their highest priority training initiative, with 34.65% citing leadership development as their top priority, followed by operations training (29.70%).

FRONTLINE PLATFORMS

Finally, the survey asked participants to indicate which front line platforms they are planning to implement in the next 12 months. Leading the list as the most popular platforms were task management (11.34%) and mobile learning (14.43%) platforms.

PRIORITIES REMAIN CONSTANT

Overall, the survey results suggest that staffing and wage issues continue to be a major concern for business owners and executives, while technology spending is expected to remain stable for the year. Leadership development and operations training are top priorities for training initiatives, while task management and mobile learning platforms are the most popular frontline platforms to be implemented in the next 12 months.

“While the macroeconomic environment continues to present new challenges, organizations realize that their frontline staff plays a vital role in their growth and customer acquisition.  The level of talent and training directly impacts their ability to conduct business efficiently,” says Harouche.

About Multimedia Plus – Multimedia Plus is transforming the way brands communicate globally. MMP’s patented technology platform, INCITE, ensures performance and execution of company strategies – where it counts – with customers. The company’s programs are being used by brands globally and are translated into more than 22 languages.  The company has created a series of Covid-19 Impact Surveys, including: Retail & Hospitality Impact Survey and Operational Procedures Still Searching for the New Normal.