Research
May 4, 2016
Photo of VivaLuxury courtesy of Bergdorf Goodman
By Sarah Jones
As retailers invest in digital sales channels, it is eating into their bricks-and-mortar sales and earnings, according to a new report from HRC Advisory.
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