After five extraordinarily demanding years, costs are still increasing for retailers, driven by rising wages, further input-cost increases, supply-chain imbalances, and other complications. As costs climb, heightened pressure on consumer spending leaves little room to increase prices to preserve margins.
However, advances in technology are now offering retailers the opportunity to unlock savings that weren’t available in prior cost programmes, even relatively recent ones, according to Bain & Company’s latest retail briefing, Retail Efficiency Rewritten: New AI Tools Demand a Second Look at Your Costs.
This is a major breakthrough for many executive teams feel they have already done
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