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People have been saying “Retail is dead” for several years now. Comparable store sales increased 9%, and the company’s gross margin increased to 58.8%. No, retail isn’t dead. Bad retail is dead. For example, your sales data can tell you what day of the week and time of day stores see the heaviest foot traffic.
Lightspeed is a single platform for point-of-sale, payment processing, inventorymanagement and reporting which also includes tools for e-commerce and marketing. So, how can retailers tackle this pain point? “And this appeal will last. 39 per cent of shoppers favour stores with loyalty programs.
The result is slow turns, deep markdowns, write-offs, and heaps of deadstock in warehouses, much of which eventually becomes landfill. The myopic focus on low price has lead to an epidemic of markdowns and deadstock. Sprinkle in some accounting for seasonality and you’ve got inventorymanagement 101.
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