OPINION: We need to cut costs and make savings in our stores wherever we can

In the wake of the Autumn Budget, the need to cut costs and look for savings across the board has become even greater.

Reducing staff members or staff hours aren’t options for us because we’d end up losing too much money. So we’re looking at every other aspect of the business.

It’s about looking closely at costs and where I can make savings. Even if those savings only amount to a small amount of money on their own.

The waste recycling people we use at the moment take our cardboard for free. But their fee has just gone up by 7.5%. Therefore, I’m shopping around for another option, which is something we’d never thought about doing before. Even if I have to pay for cardboard with another supplier, it could work out cheaper.

We’ll look at internet providers and energy suppliers as well because every little thing can make a difference. Look at getting your newspaper credits. I’m using Go Audits to help my staff work smarter rather than harder, so they’re doing what they want to do and are good at.

Range reviews are a good place to cut costs in your store

Range reviews are also a good way to reduce costs. If you can identify those lines that aren’t making you money and get rid of them fast, you can replace them with a really bold offer. We’re looking at things like the ‘middle of Lidl’ – getting an aisle full of products that will create a bit of theatre and drive incremental sales.

Social media is free marketing. So, I’m planning to get even more proactive with that. I am planning time out of my week to schedule posts and messages that will reach our customers for no cost.

There’s also the new waste legislation in March 2025. This will mean that businesses will be legally required to separate dry recycling and food waste from general waste. It means I need to look at how I can use my wasted food more productively. Can I use it in the kitchen, or give it to charities? All these small things will add up to make big differences.

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