Can collaborative category management drive sustainable like-for-like growth in retail?
If there is one reason as to why retail companies can have a healthy bottom line, it is because of their ‘like-for-like’ (LFL) growth. But sustaining growth in the LFL stores is a challenge faced across geographies and retailers. When a retailer or brand opens a new store, it creates excitement in the locality & encourages curiosity in shoppers to visit. Hence we see a big surge in walk-in traffic into the store & even if conversion rates aren’t very high, the store manages to generate a boost in revenues.
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