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Yet despite the growing frequency of ORC, retailers would be remiss to focus their lossprevention efforts solely on these brazen, smash-and-grab scenarios. In fact, according to the 2023 National Retail Security Survey conducted by NRF, Appriss Retail and the LossPrevention Research Council, 68.8% Similarly, 57.8%
Follow evolving protocols as they relate to lossprevention. Sales associates need robust POS solutions. Your POS system needs to account for that. And process returns of stuff people don’t want! They likely need to host events, too, since store events are all the rage. Keep the stores tidy. Personalize the experience.
Technology — specifically edge computing — provides the foundation for a better customer experience, real-time inventory management, enhanced security and lossprevention and in-store analytics. The store knows what you took from the shelf and put in your cart and can charge you for it on your account that’s linked to their system.
That’s why it’s important to understand the most common forms of theft and the measures you can take to preventloss without deterring valued customers. External Theft According to the NRF, shoplifting and other forms of external theft, including burglary, accounted for 37% of reported shrink in 2022.
Using technology to monitor equipment or compare inventory changes with point of sale (POS) data are examples of the kinds of activities technology could better address. Technology brings capabilities to retailers that help address tasks in more reliable, consistent ways. Infrastructure Automation.
Conversely, if you pay bills late, you are likely to get hit with late fees, which could have a negative impact on your bank account, and potentially cause you to fall behind with other vendors. Make it a point to pay on time (or even early) every time, as cash flow allows. Invest in a Point-of-Sale (POS) System.
LossPrevention platforms with a host of applications In order to make such additional security tools available for their retail customers the providers of self-checkout solutions act as drivers of computer-vision technology. These possibilities are also the daily business for Re-Vision (a Business Unit of Extenda Retail).
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