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NRF Retracts Claim that Organized Retail Crime Accounted for ‘Nearly Half’ of Retail Shrink

Retail TouchPoints

Retailers and law enforcement agencies continue to experience daily incidents of theft, partner in large-scale investigations and report recoveries of stolen retail goods into the millions of dollars.”

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How Localization is Helping CVS Position Itself as the Modern General Store

Retail TouchPoints

If you want tennis balls, you can wait for them to be delivered or you can go to a big-box sporting goods store, but if you’re on the way to the courts shouldn’t you be able to go somewhere really convenient along the way? It’s almost like the old general store that is the core of what we offer.

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Hibbett and Nike Connect Loyalty Programs 

Retail TouchPoints

After linking its loyalty program with Dick’s Sporting Goods in 2021, Nike is now partnering with Hibbett on a similar “ connected partnership.” Members can now link their Nike membership and Hibbett Rewards accounts on the Hibbett website.

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Nike to Double Down on DTC Following Q3 Gains, Plans Standalone Jordan Stores

Retail TouchPoints

The company pulled its products off Amazon in 2019 and has shed 50% of its wholesale accounts over the last four years, including its relationships with DSW , Zappos , Dillard’s and Big 5 Sporting Goods. To participate, members had to link their Nike and EA accounts, which was an integration first for Nike.

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Starbucks and Bank of America Link Loyalty Programs to Provide Extra Perks

Retail TouchPoints

can link eligible accounts to earn 2% cash back from Bank of America (on top of the rewards and benefits they already earn on qualifying purchases) and one Star for every $2 spent at Starbucks. Customers can either link their accounts through the Bank of America or Starbucks site to start collecting rewards.

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Citing Theft and Safety Issues, Target Closes 9 Stores in 4 States

Retail TouchPoints

Target and other retailers , including Dick’s Sporting Goods and Lowe’s , have been blaming theft and other forms of shrink as one reason for lackluster financial performance this year. Theft, both internal and external, accounts for 65% of shrink, although it can reach as high as 70% in certain verticals. billion in 2021.

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How Retailers can Combat the Rising Threat of Theft

Retail TouchPoints

Dick’s Sporting Goods also attributed part of the brand’s 23% profit drop in the second fiscal quarter of 2023 to theft ( CNBC ). That’s why it’s important to understand the most common forms of theft and the measures you can take to prevent loss without deterring valued customers.