![]() ![]() ![]() ![]() At the forefront is the legal domain, where participants recalibrate agreements four to six times within the same time span. Within this realm, the practice of negotiating multiple price hikes within a single fiscal year has become an established norm.ĭifferences in the frequency of renegotiations emerge distinctly across sectors. Particularly noteworthy is the consumer-packaged goods (CPG) sector, emerging as a standout player. Astonishingly, our research reveals that respondents have undertaken the renegotiation of contracts on average five times within the last three years. Over recent years, a myriad of industries has grappled with the pressing need to recalibrate existing contracts, a reaction spurred by the surge in cost structures. The formidable impact of rising costs casts a long-reaching shadow. Unveiling transformations in the face of rising costs These insights, akin to a compass, provide negotiators with the precision they need to steer towards the most optimal outcomes. Our deep dive into The Gap Partnership's extensive research shines a spotlight on the pervasive macro trends shaping the very fabric of negotiation in the 2020s. As we navigate this dynamic era where price surges cast looming shadows, the finesse of negotiation emerges as the key to unlocking prosperous deals. In the intricate dance of today's business world, negotiation has risen to paramount importance, a linchpin for achieving triumph. ![]()
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