Work stoppages cost companies bigtime. According to a survey, 98% of enterprises with more than 1,000 employees reported an average loss of over $100,000 per hour of downtime. Larger enterprises indicated the same increment of time costs their firms $1 million or more.
Due to 81% of retailers face a downtime situation at least once a year, there must be measures put into place beforehand to help avoid downtime. Through planning and in-depth evaluation of the available options, retailers can work to shrink downtime windows and avoid the negative short-term and long-term effects they might produce.
For more information on the dangers of retail downtime and additional solutions, please see the accompanying resource.