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How can we better integrate the latest anti-theft technologies and loss-prevention research into our store designs from the outset? The good news: Skills developed on the consumer side can be flipped around and used to fight retail crime. What are the most customer-friendly ways to protect high-value items from smash-and-grabs?
Fast Track aims to eliminate the need for consumers to enter product codes via touchscreens by automatically recognizing produce, bakery and specialty items. Fast Track also can help improve accuracy for retailers, which can boost lossprevention, reduce errors at checkout and create a better self-checkout experience for customers.
After years of lockdowns and digital-driven behaviors, consumers’ actions have shown how crucial the store experience is to how they shop and interact with brands. That’s only going to further accelerate the expectations of consumers and technology adoption within retail environments. Are consumers returning products less often?
Then, last year, in-store sales grew faster than online sales, while ecommerce stocks took a big hit. Retailers cited rising costs, declining consumer spending and supply chain volatility as their top concerns. A survey from this year’s World Retail Congress suggests that the uncertain times aren’t over for the industry.
Amelia Adey, lossprevention and compliance manager at Kookai Australia explains: “We wanted to remove any customer dissatisfaction due to out-of-stock items or missed sales due to inventory not being accurately represented in our stock file.
The people counters at the entrance are notoriously inaccurate and the only other reliable point of contact is frequently at the Point of Sale (POS). In many cases Consumer Packaged Goods (CPG) manufacturers pay for their merchandising location in the aisle, think of Coke and Pepsi in the beverage aisle.
As consumers tighten their belts and the fight for customer mindshare and employee loyalty plays out, retailers must ensure they enhance customer services on the shop floor – whilst ensuring that their employees feel both engaged and empowered in their roles.
As counterintuitive as it is, we all know losses are an accepted norm in retailing. Factored into the bottom line, as sales increase for stores, so will the losses of product inventory. Lossprevention teams call this inevitable outcome “external shrinkage”. These barriers do not mean retailers can’t innovate.
Consumers and employees returning to reopened stores will be looking for positive proof that these locations are safe, and that shopper journeys have been redesigned to be as “touchless” as possible. Rob Almond: The two basic elements are creating consumer confidence that the stores are safe, and addressing employees’ need to feel safe.
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