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News & insights

Retail office meeting

3 reasons why profitability should be every retail department's focus

25 February 2020

By Drew Smith

From the outside, the retail industry looks like it’s in the midst of a boom. Retail sales are growing by an average 15% annually, and this industry alone accounts for as much as a third of total consumer spending in the UK. What’s more, with the rise of online retail stores and global market reach, retailers no longer have to rely on physical locations to achieve the sales they’re after. This is largely behind a revenue that seems to increase year on year. And, yet, when you look into the figures, it’s evident that these revenue increases simply don’t add up to the profitability retailers need to weather the market in the long-term.  

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