Change has been a constant factor in the retail industry. If retailers don’t change, they usually don’t survive. However a number of developments within the past ten years have forced retailers to rethink the way they do business and completely reinvent themselves to remain viable. Major trends have raised the bar of competition and increased the cost of being in business. This has created an opportunity for progressive retailers to focus on sustainable profit improvement and use this climate of change to their advantage.
In this paper we will review how retailers are improving their bottom line. We will
- Explore which initiatives are generating the greatest return on investment.
- Lay out a roadmap that can help retailers improve profits