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Streamlining can save millions for retailers, claims study

August 3, 2018

Retailers can boost sales by 3.7 percent by enacting strong compliance initiatives and streamlining complex store communications, according to a study commissioned by Foko Retail in a partnership with Retail Info Systems, according to a press release.

"Complex store communications are killing the retail bottom line," said Marc Gingras, founder and CEO of Foko Retail, in the release. "The issue many retailers face is poor management of complicated systems, which breeds inefficiency. The study results also show that the gap between HQ's plans and how the stores actually deliver them is widening. By contrast, excellent store execution rewards retailers by helping them achieve financial goals, reduce costs and win against competitors."

The study stated better communication with managers and store associates is essential for solving store level compliance problems, and that mobile devices are underutilized as just 57 percent of retailers make them available to store managers.