Retail TouchPoints

APRIL 5, 2024

” Simoncic, who is also a Managing Director at consulting firm Alvarez & Marsal (A&M), will step down; fellow A&M Managing Director Chris Wells will take over as Chief Restructuring Officer to help facilitate the wind-down.

Location 263

Location Shrinkage Finance Management 263

Inside Retail

FEBRUARY 21, 2024

The company ended the half with a national store network of 383, up from 376 at the end of December 2022. Like many Australian retailers, The Reject Shop is facing some near-term margin pressure from higher shrinkage and rising costs. EBIT for the half was $19.4 million, down 16.1 per cent year on year.

Shrinkage 255

Shrinkage Shopping Planning Consumer 255

Inside Retail

JUNE 6, 2021

Retailers face continual challenges with increasingly sophisticated shoplifters causing in-store ‘shrinkage’. The FoxTag detacher is designed with additional security features to help reduce stock shrinkage and increase store profitability. It’s the optimal high-quality, reliable, and durable solution to retail stock protection.

Loss Prevention 243

Loss Prevention Shrinkage Shopping Returns 243

Inside Retail

FEBRUARY 18, 2025

The competitive edge By cultivating deep operational excellence capabilities at every level from the executive suite to the front line businesses can unlock transformative value. Shrinkage: -15 per cent. About the author: James Lee is a partner at Argon & Co ANZ. Sales: +25 per cent. Market share: +2.2

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Shrinkage Accounting Customer Experience Promotions 130

Retail TouchPoints

MAY 31, 2022

5G is really three things — speed , latency and massive connectivity ,” said Michael Colaneri, a 30-year AT&T veteran who now leads the telecom’s retail business vertical. Here are five places where 5G-enabled experiences/solutions are either being tested or have already been deployed at retail. What is 5G, Really?

Merchant Services 354

Merchant Services Checkout Shrinkage ATS 354

Retail TouchPoints

OCTOBER 25, 2021

Thanks to vastly reduced latency and increased speeds, it allows significantly more devices to access the internet at the same time. In addition, if the shopper is not ready to buy everything, they can send the data to their mobile phone to easily purchase it at a later date. Technology Snapshot.

Payment Services 317

Payment Services Shrinkage Consumer Accessories 317

Retail TouchPoints

MAY 6, 2021

Competitive companies rely on focus and understanding their core competencies, solving tasks such as shrinkage and stock-out, and then taking those savings to tackle larger AI projects. Azita Martin is General Manager of AI for Retail and CPG at NVIDIA.

Fulfillment 344

Fulfillment Shrinkage Department Stores Returns 344

Retail Wire

MARCH 13, 2023

Retailers have reported a rise in shrinkage at the same time that more people are going to stores to shop. “We definitely had an uptick since last year,” Macy’s CEO Jeff Gennette said on the retailer’s earnings call. “It’s an industrywide trend.”

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Shrinkage Shopping ATS 130

Retail Focus

JUNE 10, 2024

Most stores will already have measures in place to deter and prevent theft as much as they can, with some of the most common options including CCTV cameras, security staff and metal detectors at the entrance door. POS and display solutions ensure store displays are safeguarded from potential theft at a fraction of the cost.

Loss Prevention 147

Loss Prevention Shrinkage Point of Sale Shopping 147

Retail TouchPoints

NOVEMBER 23, 2022

A worldwide pandemic kept shoppers hunkered down at home and out of malls and stores for two years. The expected bounce-back has, at best, developed slowly. Many more products and services have become available at varying price points. Retail has suffered a string of setbacks in recent years.

Merchant Services 290

Merchant Services Shrinkage Store Layout Customer Experience 290

Retail TouchPoints

JULY 18, 2024

Understaffing contributes to theft and shrinkage in general, but it also creates an increasingly impersonal feeling for offline shopping ,” said Nick Kramer, Leader of Applied Solutions at SSA & Co. The company was able to put that into practice with its deployment of Manhattan solutions at Reebok in 2023.

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Customer Experience Kiosk Shrinkage Shipping 278

Retail TouchPoints

NOVEMBER 7, 2023

The same retail security survey from NRF found that most retailers experience a shrinkage rate of around 1.4%, which is most often attributed to shoplifting, employee theft and ORC. Before joining the company in 2004, she was the Senior Director of Data Sciences at Washington Mutual and a pricing analyst for Circuit City.

Loss Prevention 297

Loss Prevention Shrinkage Returns Payment Services 297

Inside Retail

MARCH 4, 2022

It captures a philosophy that sits at the heart of every successful enterprise. Glory’s cash recycling solutions can be used individually at the POS or in the back office, or they can create a full “Closed Loop” system in which your employees no longer need to handle cash at all. Maximise profits, minimise shrinkage.

Shrinkage 162

Shrinkage Payment Services Customer Experience Accounting 162

Retail TouchPoints

FEBRUARY 21, 2023

Retailers that understand the customer journey and adopt innovative strategies are looking at ways to turn their brick-and-mortar stores into experience centers. 5G provides an alternate method to keep the store connected at all times. 5G can reduce wasted time and prevent inventory shrinkage, providing retailers with cost savings.

Sporting Goods 264

Sporting Goods Payment Services Point of Sale Shrinkage 264

Inside Retail

SEPTEMBER 3, 2024

In this article, we will look at the benefits and the key areas to apply AI in the retail industry. Loss prevention: AI combats retail shrinkage also, by integrating computer vision and motion analytics at self-checkouts, detecting suspicious activities and ultimately reducing theft.

Loss Prevention 245

Loss Prevention Checkout Shrinkage Supply Chain Management 245

Retail TouchPoints

NOVEMBER 10, 2022

It now sits at an estimated 22% of all sales, according to a 2022 Morgan Stanley global ecommerce forecast report , which notes that “Over the long term, the ecommerce market has plenty of room to grow and could increase from $3.3 We’re getting close, but at this point it isn’t even an apples-to-oranges comparison. trillion in 2026.”.

Consumer 306

Consumer Advertising Shrinkage Marketing 306

Retail Wire

SEPTEMBER 1, 2023

While major retailers like Target, Walmart, and Dick’s have raised concerns about rising retail theft, Best Buy has managed to maintain a stable rate of shrinkage, according to CEO Corie Barry.

Shrinkage 100

Shrinkage Management ATS 100

Retail TouchPoints

AUGUST 4, 2023

Having more kiosks for customers to check in at also allows staff to be more flexible. This information can be of great value when deciding which products to order and what price to sell them at. They are no longer stuck behind the counter but can walk around and assist those who need help. Before relocating to Hunt Valley, Md.

Payment Services 246

Payment Services Kiosk Marketing Inventory Management 246

Inside Retail

FEBRUARY 15, 2023

In the US, for example, department store Target recently blamed a US$593 million reduction in its gross profit on organised retail crime, with shrinkage causing its profit margin to fall by around US$400 million. “We Townsley urged retailers to make it as easy as possible for staff members to report customer aggression and product loss.

Shrinkage 245

Shrinkage Department Stores Management Supermarket 245

Inside Retail

NOVEMBER 15, 2022

Saar Davidi, innovation director, automation, at Ranpak says a combination of new technologies and sustainable materials is making it easier for marketplaces and retailers to satisfy consumer expectations – and suggests that those not taking advantage of them are potentially leaving cost savings on the table. It’s paper or nothing.”.

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Drop-Shipping Shipping Dead-Stock Shrinkage 246

Retail TouchPoints

JUNE 15, 2022

The chatter of the store “being dead” is evolving from belief that the physical store is fading amid the shift to digital, to seeing that it’s the role of the store that is changing — and a vital one at that. To curb shrinkage, self-pay via an app is used to let shoppers and guests purchase items themselves.

Payment Services 264

Payment Services Checkout Shrinkage Fast Fashion 264

Inside Retail

JANUARY 30, 2024

Retailers worldwide may be facing challenging times right now, but the evolution of technology – including the deployment of AI – is opening the way to dramatic improvements in productivity at all stages of the retail business model. You are optimising the value of that product by discounting at the right time, rather than too early.”

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Loss Prevention Shrinkage Inventory Management Markdowns 147

Retail TouchPoints

AUGUST 22, 2023

It took a couple of years to push through the INFORM legislation aimed at reducing ORC, and during that time thousands of stores closed because shrinkage became unacceptable. As the losses from ORC soared into the tens of billions across the U.S.,

Payment Services 246

Payment Services Accounting Shrinkage Consumer 246

Retail Gazette

FEBRUARY 28, 2024

Speaking at the Smart Retail Tech Expo this week, she said: “I was in one of our supply chain depots where we’re rolling out robots at the moment, and the picking robots are super cool, but they’re removing jobs. “I

Shrinkage 110

Shrinkage Customer Experience Planning Department Stores 110

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. Reduce Retail Theft .

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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. Reduce Retail Theft .

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Loss Prevention Shrinkage Management Location 98

I Vend

MAY 8, 2024

We take a look at how modern, integrated POS for wine and liquor stores can unlock a future of growth. Our modern POS for wine and liquor stores unlocks growth Read more The global at home alcoholic drinks market is worth $1070 billion and is growing at a compound annual growth rate (CAGR) of 4.4%.

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Shrinkage Inventory Management Payment Services Point of Sale 91

Retail Gazette

APRIL 4, 2024

Retail crime cost The Co-op £70m last year, according to food managing director Matt Hood, as the mutual turns to AI to stamp out theft at self-checkouts. Hood said despite evidence pointing to the fact that self-checkouts do lead to an increase in shrinkage, he would not strip them out of stores as they make “convenience more convenient”.

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Checkout Shrinkage Management ATS 126

Wiser

APRIL 23, 2019

Shrinkage – Shrinkage occurs when a product is lost due to employee theft, shoplifting, or another unknown reason. . Receiving errors – Errors can happen as merchandise is received and processed at the back of the store. . Images are crucial because it’s clear evidence of a problem at the shelf-level.

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Shrinkage Inventory Management Fulfillment Location 100

Retail Gazette

JANUARY 23, 2025

His return comes at a critical time for the retailer, which saw its festive sales plummet this year, including a 7.3% Related Story Poundland owner calls in advisers amid sales slump 20/01/2025 x 4:22 PM Williams, who previously held senior roles at Asda, including chief customer officer, was replaced by Austin Cooke as MD in 2023.

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Shrinkage Grocer Returns Marketing 105

Cisco Retail

MAY 25, 2022

Increasingly, Organized Retail Crime (ORC) and Cybercrime rank at the top of the list of Loss Prevention (LP) concerns, along with associate fraud and returns fraud. Shrinkage means the retailer has less physical inventory than their system reflects. Addressing Areas of Shrink at the Point-of-Sale (POS). Summary/Conclusion.

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Loss Prevention Shrinkage Returns Point of Sale 142

Inside Retail

MAY 25, 2023

Factoring in the roughly US$700 million of inventory shrinkage that occurred in 2022, mainly attributed to retail crime, the company is on track to lose up to a total of US$1.2 billion due to organised retail crime over the past two years alone. billion due to theft in 2023 alone.

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Shrinkage Loss Prevention Location Planning 130

Independent Retailer

JULY 29, 2022

The most common area in-store that retailers focus on to improve customer engagement is at the Point of Sale (POS). Implementing RFID technology at the POS enables an automated checkout since brands are able to accurately identify each item in the checkout process, transforming it into a faster, more accurate, and smoother transaction.

Customer Experience 98

Customer Experience Shrinkage Checkout Inventory Management 98

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 Incidents of theft are on the rise with Drakes’ 50+ stores across Queensland and South Australia experiencing shoplifting on a weekly basis. “We

Shrinkage 147

Shrinkage Loss Prevention Supermarket Beauty and Health 147

Inside Retail

DECEMBER 16, 2021

In the fashion industry, Korea has a reputation for being at the forefront of trends. This is partly in response to the increased level of competition at home. The fabric also goes through a ‘tender’ process to prevent the clothes from losing their shape, and is wetted and dried in a machine to minimise shrinkage.

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Shrinkage Fashion Marketing Consumer 130

Wiser

JUNE 23, 2020

In this article, we’ll look at what quick service restaurants can do to grow their businesses while staying true to what consumers have always loved about them. Reduce Shrinkage. Shrinkage occurs when inventory goes missing, or shrinks, due to employee theft, customer theft, vendor fraud, or cashier error.

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Payment Services Shrinkage Location Marketing 78

I Vend

FEBRUARY 6, 2023

At the same time, we’re seeing increasing stock outs, with 80% * of shoppers saying they saw a decline in stock levels in 2022. They help retailers ensure they have the right goods in the right place at the right time, improving store performance and enhancing customer experience. How can smart inventory management increase sales?

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Inventory Management Management Shrinkage Returns 98