Since this past July, Russian retailers have been required to use internet-connected registers which transmit sales data to the authorities to improve tax collection. But retailers were left counting the cost of a holiday-season glitch that may have caused billions of rubles in lost sales after the failure of some of these registers.
“A retail nightmare came true today, when cash registers refused to work and sales stopped,” Dmitry Alexeev, head of electronics retailer DNS Digital Store, said on Facebook Wednesday. “What could be worse than losing the chance of trade in the days leading up to New Year?”
The crash affected about 9% of the market and cost companies as much as 10 billion rubles (approximately $170 million at the current exchange rate) in lost revenue, according to Russian online retail lobby group AKIT.
Russia suffers holiday retail nightmare as cash registers crashRead More
