Retail TouchPoints

NOVEMBER 7, 2023

What’s more, these scenarios are also becoming more blatant in recent months as fraudsters have raided and ransacked department stores. 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.

Loss Prevention 297

Loss Prevention Shrinkage Returns Payment Services 297

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

Shrinkage 245

Shrinkage Department Stores Management Supermarket 245

Retail Gazette

FEBRUARY 28, 2024

Simcock said headsets being worn by staff in some Waitrose stores was helping to increase customer metrics, reduce shrinkage and help employees “feel safer”. The Partnership is using AI for forecasting and experimenting with other technologies such as “virtual manuals and digital wallets”.

Shrinkage 110

Shrinkage Customer Experience Planning Department Stores 110

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.

Shrinkage 130

Shrinkage Loss Prevention Location Planning 130

Inside Retail

AUGUST 27, 2023

The group, which is made up of discount department store brands Kmart and Target, as well as online marketplace Catch, delivered record earnings during FY23 – a 52 per cent increase on the previous year, to $769 million. While value for money is undoubtedly a large focus for retailers moving forward, stamping out shrinkage is another.

Shrinkage 130

Shrinkage Dead-Stock Department Stores Apparel 130

Retail TouchPoints

MAY 6, 2021

Yet as pundits ponder the death of the department store, the industry is racing to reimagine where and how it sells goods. 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. In the U.S.,

Fulfillment 344

Fulfillment Shrinkage Department Stores Returns 344

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 104

Outdoor Supermarket Grocer Department Stores 104