10pc increase in online penetration could cause 5pc drop in store profitability: McKinsey
Posted ByDianna DilworthOn In Featured,Industry sectors,News,Research,Retail | No Comments{"ct":"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","iv":"897eaa818a5ab119fe29a19a6a7ea20c","s":"0a964b41c352ec88"}