The retail industry is facing challenges with thin margins and the need to do more with less. However, a recent Wharton University study found that understaffing and undertraining employees is a big mistake, as well-trained and adequate staff are the long-term solution for stable profits. The study's authors persuaded a large retailer to boost their staff levels and provide additional training, resulting in over $8.9m in extra profit and a 6% increase in revenue. CX (customer experience) is becoming increasingly important in the retail industry, as customers expect personalized and seamless experiences. CX Market Leaders in Retail, a report by CXNetwork.com, highlights 10 companies that are excelling in CX and providing a competitive advantage. These companies are using technology and data to understand and anticipate customer needs, and are investing in staff training and development to deliver exceptional experiences.
