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Retailers understandably want to create strict returns policies to reduce instances of fraudulent or abusive claims. At the same time, a rigid strategy like no receipt, no returns can sour loyal customers as well as drive fraudsters toward new criminal tactics, forcing lossprevention teams to continually change strategies.
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%
Associates have to be omnichannel fulfillment specialists. the fulfillment scenarios really are endless. And process returns of stuff people don’t want! Follow evolving protocols as they relate to lossprevention. They need to keep track of what’s new, what’s unique to their location and what just went on sale.
Newmine aims to help retailers analyze sales and returns through its Chief Returns Officer platform in order to become better informed about customer actions. The AI- and natural language processing-powered software was designed to determine the root cause of returns upstream, from planning, design and marketing to customer delivery.
Most retailers attribute 50-60% of losses to associate actions. Increasingly, Organized Retail Crime (ORC) and Cybercrime rank at the top of the list of LossPrevention (LP) concerns, along with associate fraud and returns fraud. Shrinkage means the retailer has less physical inventory than their system reflects.
Omnichannel Fulfillment: Position Imaging — which enables logistic efficiency with new and advanced tracking technologies used to provide visibility throughout the logistics chain.
Top-line findings from a recent Sensormatic survey reveal that while in-store shopping is expected to rise through the holiday season, what consumers are looking for while they’re there is for retailers to provide insight into product availability and alternative fulfillment offerings.
For example, they need to support omnichannel services like BOPIS, ship-from-store and seamless returns. Are consumers returning products less often? Everyday items are behind locked plexiglass, but technology will become a key driver of lossprevention efforts. Did you open up the lifetime value of an existing customer?
Specifically, for retail at the NRF Retail Converge virtual tradeshow, we’re focused on what powering an inclusive recovery can do for our customers, our partners, our sellers at Cisco — and our retailers as well, as we all gradually return to work and adapt to this new environment. The technological possibilities don’t end there.
ProGlove (stand 6B48) – Proglove’s wearable technology and software solutions digitally empower retail staff across a retailer’s operations, delivering better processes, faster fulfillment, and more transactions.
– Zebra Technologies Corporation has announced the findings of its 16 th Annual Global Shopper Study that confirmed retailers are feeling the omnichannel squeeze, particularly with managing online returns and reducing shrink caused by theft, fraud and other contributing factors.
This approach also supports stock accuracy and lossprevention, as mobile point-of-sale technology automates inventory management. Happier, more fulfilled store teams don’t simply provide better customer service and enhance the ‘theatre of retail.
A retail fulfillment process that is known as BOPIS — Buy Online, Pickup In-Store. During the pandemic, BOPIS retail fulfillment options kept businesses running while limiting person-to-person contact – which was essential during the pandemic. BORIS (Buy Online Return In-Store): Concentrates on reverse logistics.
Advanced analytics has the capacity to integrate every channel of a multi-channel business into its forecast to maximize the return on promotion investments. While at the same time adding to the online fulfillment system, by providing in-store pickup and local same-day delivery. Order fulfillment automation.
Blending physical and digital to get the basics right will be paramount: from visually appealing displays and signage, tidy shop floors, well-stocked shelves and accurate stock information, efficient queue management of sales, click and collect, returns and service points, to the availability of knowledgeable and empowered retail teams.
E-com returns 10-15% growth rates. 6:08] Startup automation things that could bring automated picking to store fulfillment or small fulfillment centers or. Get more efficient about fulfilling omni-channel order stuff so automation was a big theme. Pick to light systems and gloves like a lot of.
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. Some stores were literally in flames, and there were lossprevention issues at others.
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