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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