Retailers ‘Spend More Than $100bn A Year’ Manually Changing Price Tags
A new study has found that retailers spent a combined $104 billion on manually changing price tags in-store.
The study, by Planet Retail RNG and Displaydata, also found that inaccurate, inconsistent pricing – and a lack of digital technology in-store – is costing retailers in lost sales and consumer trust, as price-conscious shoppers seek out the best deal and better experiences online.
The report, Analogue to Automated: Retail in the Connected Age, surveyed around 1,000 retailers and 5,000 consumers, and found that retailers, by and large, are failing to keep up with shifting consumer attitudes towards price and promotions.
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