2022 BDO Retail CFO Outlook Survey

2021 was a year of retail recovery. Following steep declines in 2020, the prediction of a V-shaped recovery came to fruition. The challenge for retail CFOs came from shifts in customer demand, from brick-and-mortar to e-commerce. Now retailers face high demand as labor shortages and supply chain slowdowns exacerbate their ability to keep up. Survival will depend on the strength of retailers’ digital infrastructure.

As they get back on their feet, retailers are pursuing a gradual approach to growth, according to the 2022 BDO Retail CFO Outlook Survey. All eyes will be on how effectively they can reverse early signs of distress, alleviate supply chain issues and innovate.
Challenges lie ahead, but retail CFOs are confident their organizations will overcome them—and some will even thrive.

Dig into the survey findings to uncover how retail CFOs are tackling the industry’s most important issues:



Quote  The phrase ‘hindsight is 20/20’ takes on a new meaning for the retail industry. In 2022, the story of retail will be about how retailers move forward with a fresh perspective on their strengths and vulnerabilities, even as COVID-19 becomes endemic. Cash remains tight and stockpiling it might be tempting, but retail CFOs realize now is the time to double down on investments that deliver on customer demands, guard against future disruption, and spur growth.   

Partner and National Leader of BDO’s Retail and Consumer Products Practice



BDO’s 2022 Retail CFO Outlook Survey polled 100 retail industry CFOs with revenues ranging from $250 million to $3 billion in October 2021. The survey was conducted by Rabin Research Company, an independent marketing research firm, using Op4G’s panel of executives.



50% Public
50% Private


73% U.S. only
27% U.S. and other areas


40% $251M-$500M
32% $501M-$750M
16% $751M-$999M
7% $1B-just under $2B
4% $2B-$3B
1% Over $3B


22% Consumer electronics & appliances
16% General merchandise
13% Health
13% Grocery
10% Department store
9% Apparel & footwear
9% Furniture
8% Sporting goods