Retail Recovery: 4 Ways to Cut Costs and Boost Performance
How retailers cut store operating costs by up to $270,000 a year without sacrificing customer experience.
Key findings
- Remote store visits save field teams enough time to visit 50% more stores.
- Switching to remote store visits saved 25 field managers $270,000 per year and 18,000 hours annually, according to YOOBIC customer data.
- Foot traffic fell 43% year over year, forcing fewer store employees to become up to 30% more productive.
Summary
Post-COVID-19, stores face reduced foot traffic, weaker brand loyalty, a shift to online shopping, and fewer employees and locations. Consumer digital adoption that would have taken 10 years happened in 90 days. Cost-cutting became retailers’ priority, but they cannot afford to sacrifice in-store experience or team performance to get there.
This ebook lays out four tech-powered approaches to help each store do more with less: digitized remote store visits, AI-driven data analysis, mobile-first training and communication, and tool consolidation. Cost and time savings are based on YOOBIC customer data. YOOBIC’s digital workplace is used by 200+ retailers and brands, including Lacoste, Boots and Puma.
What you’ll learn
- Why retailers need to rethink how they operate stores in the COVID-19 era.
- Four ways to help each store do more with less.
- How each practice cuts costs and makes employees more productive.
