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When retailers mistake their most important asset as cost

Article-When retailers mistake their most important asset as cost

Do you consider retail employees and their cost of training to be a liabilities? The Retail Doctor Bob Phibbs explains why you may want to reconsider that thinking.

For years we’ve heard that employee expenses are driving retail profit margins down; as a result, labor hours were cut.

That meant shoppers were more likely not to see anyone working in a store, that they most likely would have to wait for assistance, and would have to wait in line to pay.

That led customer service levels down across the board and still today it is pummeling retail traffic across the world.

Many retailers see their retail employees as a cost center, the opposite of an asset. They are something to be minimized.

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