Greg Petro, chief executive officer of First Insight Inc., shares results of a pricing study.
Wrapping up the formal presentations of the summit, Greg Petro, chief executive officer of First Insight Inc., noted how several of the previous speakers cited a retail market that is no longer seeing the growth it once did.
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“Apparel sales are down, but showing a gain of 1 to 3 percent on an aggregate basis,” he said. “Conversion rates are also down, and so is retail traffic. In the U.S., the retail square footage on a per-capita basis is 49. In the U.K., by comparison, it is nine. So, we are over-stored, and there are too many products.”