Study: Long Lines Mean Fewer Sales and Customers
Dallas A survey of 13,000 shoppers by M/A/R/C Research found that 10% of shoppers would leave a checkout line if the wait were longer than four minutes.
About 43% of those surveyed said long lines affect their decision to shop a particular retailer in the future.
In addition, about 3% said they would stop visiting the store altogether.
“Retailers really have to focus on keeping their wait times under 4 minutes with the negative impact of even one minute more,” said Tony Amador, senior VP at M/A/R/C Research.
NEW YORK InterActiveCorp, which owns HSN, said that it expects the spin-off of its Cornerstone Brands catalog business to result in an estimated $300 million in goodwill impairment and an operating loss in the first half of 2008, according to a Reuters report.
Cornerstone will become part of a new unit that will also include HSN under a restructuring plan to be completed by early August, the report said.
Charming Shoppes reports board changes
BENSALEM, Pa. Charming Shoppes announced that at its annual meeting of shareholders held today, shareholders re-elected Dorrit Bern, the company’s president and ceo, and Alan Rosskamm to the board of directors, and elected Arnaud Ajdler, Michael Appel, Richard Bennet III and Michael Goldstein as new directors to the company.