“British retailers face a challenging trading environment. The latest Shop Price Index figures show the shift to a new reality for retailers and shoppers. Retailers know they need to keep their prices competitive if they want to attract customers, and keep them returning. At the same time it’s been a difficult year. Volatile exchange rates and rising global food commodity prices are hitting the bottom line. Unless they manage the situation carefully, many retailers will be forced to pass some of these increased costs onto their customers, with overall shop price deflation at its lowest rate since 2013.
“Retailers need to shift their focus onto the variables they can control. A good place to start is by looking to make efficiencies around their in-store operations. One way to do this is using data – such as demand forecasts and employee availability and preference – to identify the optimal staff schedule, matching staff to customer demand.”
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