Inside Retail

MAY 19, 2021

We lose approximately $10 million a year on shrinkage – that covers a range of things but the majority of that is goods that are unaccountable,” Drake said. “It’s Drake recently began outing what he called “repeat offenders” by sharing CCTV footage on his social media account @shake.and.drake.

Shrinkage 147

Shrinkage Loss Prevention Supermarket Beauty and Health 147

Independent Retailer

JULY 8, 2021

According to the 2020 National Retail Security Survey , retail theft, or shrinkage, is at an all-time high. In fact, in 2019, shrinkage accounted for an average rate of two percent of inventory, calculated at retail, costing the industry a record $62 billion.

Loss Prevention 98

Loss Prevention Shrinkage Management Location 98

Independent Retailer

JULY 8, 2021

According to the 2020 National Retail Security Survey , retail theft, or shrinkage, is at an all-time high. In fact, in 2019, shrinkage accounted for an average rate of two percent of inventory, calculated at retail, costing the industry a record $62 billion.

Loss Prevention 98

Loss Prevention Shrinkage Management Location 98

I Vend

MAY 8, 2024

Online sales account for $40 billion and are growing faster than brick and mortar sales. Add to this the fact that liquor retailers must hold a wide range of items to attract shoppers, and the fact that wine and liquor is a prime target for shrinkage and the issue is further compounded.

Shrinkage 91

Shrinkage Inventory Management Payment Services Point of Sale 91

Retail Focus

AUGUST 8, 2023

Accounting and Bookkeeping Maintaining accurate financial records is crucial for the long-term success of any retail business. Outsourcing accounting and bookkeeping tasks to professionals can help you keep track of expenses, revenues, and taxes efficiently.

Loss Prevention 130

Loss Prevention Inventory Management Inventory Turnover Shipping 130

I Vend

FEBRUARY 6, 2023

Reduce spoilage and shrinkage – carrying excess stock of perishable or seasonal items risks those goods becoming unsaleable (except, perhaps at a large discount). Mis-recorded, mis-counted or misplaced inventory accounts for just over 25% ++ of shrinkage.

Inventory Management 98

Inventory Management Management Shrinkage Returns 98

365 Retail

SEPTEMBER 1, 2024

Amazon Go stores, for example, invented the idea of “just walk out” shopping, in which consumers merely pick up the goods they desire and the system notes them and charges their account as they leave the store. Reducing Shrinkage: In retail, inventory shrinkage brought on by theft, fraud, or mistakes presents a major problem.

Payment Services 121

Payment Services Shrinkage Checkout Consumer 121

Small Biz Trends

JULY 26, 2022

It causes monetary shrinkage to income and manufacturers, along with other businesses for an extended period of time. And aligning these two is not only an accounting problem; it’s an operational responsibility of a business owner.” We know it’s no fun, but what is a recession , really?

Payment Services 111

Payment Services Shrinkage Accounting Management 111

Wiser

JANUARY 12, 2021

Doubling the wholesale cost allowed retailers to take into account fixed and variable costs, such as coupons, theft, returns, and other common margin-eaters while still turning a profit. Keystone pricing skips that middle step, simply doubling the wholesale price and hoping that accounts for any fixed and variable costs.

Wholesale 78

Wholesale Shrinkage Markdowns Returns 78

Star Miconics

APRIL 12, 2024

Modern Labeling Technology The teams at these shops must ensure they work accurately; mistakes and shrinkage can account for 4-10% of inventory loss. By using linerless sticky labels, your business can enhance order accuracy, significantly reducing shrinkage and boosting profitability.

Shopping 59

Shopping Shrinkage Kiosk Returns 59

Retail Gazette

DECEMBER 23, 2024

At Cobham, these products are presented in a wide, open space in the centre of the store, which is more open, bright and with more staff able to have they eyes on the area, which in turn is driving an uplift in sales and reduced shrinkage.

Outdoor 105

Outdoor Supermarket Grocer Department Stores 105

Star Miconics

JULY 5, 2024

According to the National Restaurant Association, with food costs accounting for 33 cents of every dollar sold and overhead totaling 29 cents , pretax profit for most restaurants is only about 5 percent. These inventory tracking solutions also provide managers with invaluable data, revealing sources of shrinkage and waste.

Inventory Management 59

Inventory Management Shrinkage Point of Sale Management 59

365 Retail

JUNE 28, 2022

In terms of the volume of incidents, internal theft accounts for over 22% of UK retail shrinkage according to the Centre for Retail Research. While loss through crime has always been a sad but inevitable reality of retail, there is a proven correlation between economic hardship and retail crime.

Management 52

Management Shrinkage Accounting Promotions 52

Retail Times

MARCH 30, 2021

For more information on how to reduce shrinkage, see our previous post on beefing up security and preventing loss in your store. And if you’re a Vend user, Scanner automatically syncs with your account, so there’s no need to deal with CSV files and email. Further Reading. Learn More. Collect on unpaid invoices. Increase sales.

Merchant Services 98

Merchant Services Inventory Management Management Shrinkage 98