Retail TouchPoints

MAY 31, 2022

Smart mirrors are already in use at COS Beverly Hills and will roll out to additional locations later this year. Additionally, we’re able to look at what are the highly trafficked areas and what are the focus spots [in the store] to reduce shrinkage and optimize employee staffing ,” she added. Supply Chain Optimization.

Merchant Services 354

Merchant Services Checkout Shrinkage ATS 354

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. Ideally, these apps also should contribute to a better in-store shopper experience. in an interview with Retail TouchPoints.

Customer Experience 278

Customer Experience Kiosk Shrinkage Shipping 278

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. Remotely Manage Retail Locations.

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. Remotely Manage Retail Locations.

Loss Prevention 98

Loss Prevention Shrinkage Management Location 98

Inside Retail

JANUARY 30, 2024

These technologies are helping retailers achieve efficiencies in operational functions including staff deployment and management, customer service, shrinkage reduction and lifecycle pricing. That extends the opportunity for the salesperson to build a rapport with the customer and potentially upsell.

Loss Prevention 147

Loss Prevention Shrinkage Inventory Management Markdowns 147

Wiser

APRIL 23, 2019

Shrinkage – Shrinkage occurs when a product is lost due to employee theft, shoplifting, or another unknown reason. . Smartphone-enabled shoppers can be leveraged to audit retail locations on your behalf. You need the right tools to analyze hundreds—or more—SKUs across thousands of store locations.

Shrinkage 100

Shrinkage Inventory Management Fulfillment Location 100

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

Wiser

JUNE 23, 2020

Local ads on Google, SMS marketing with location-based messaging (sometimes referred to as proximity marketing), social campaigns with influencers, and other digital strategies can help you reach a wide audience and draw people into your restaurants. Maintain Consistency Across Locations. Reduce Shrinkage.

Payment Services 78

Payment Services Shrinkage Location Marketing 78

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. Smart retail technology for inventory management can reduce both these risks.

Inventory Management 98

Inventory Management Management Shrinkage Returns 98

RETAIL MANAGEMENT SOFTWARE

JULY 29, 2024

Inventory management technology provides real-time, precise item availability, price accuracy, and location, enhancing both in-store and online shopping experiences. AI can save up to 30 weekly labor hours per store, improving associate satisfaction and retention while reducing shrinkage.

Inventory Management 111

Inventory Management Shrinkage Promotions Store Operations 111

I Vend

AUGUST 6, 2023

Retail analytics of financial reporting and inventory management data can help to pinpoint shrinkage and drill down into its location and cause, giving retailers a better chance of reducing it. Promotions – when you run promotions, you have to be able to measure their impact – which ones worked well, with which customers and locations.

Point of Sale 96

Point of Sale Inventory Management Shrinkage Promotions 96

Retail Assist

OCTOBER 16, 2024

As retailers expand, they often face unique inventory management challenges, such as handling multiple store locations, coordinating stock across various distribution channels and scaling up to meet fluctuating customer demand. Invest in an ERP with a single, live view of stock levels across multiple locations and channels.

Inventory Management 52

Inventory Management Management Shrinkage Returns 52

Star Miconics

JULY 5, 2024

Compact models with versatile connectivity options allow managers to position printers in optimal locations within food prep areas. 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

Mass Relators

OCTOBER 25, 2023

Eight in 10 favor a blend of online and in-store shopping, and 75% choose to shop with online retailers that have a brick-and-mortar location. While omnichannel shopping causes challenges for retailers, most shoppers prefer options. As omnichannel shopping continues to grow, the volume of returns increases along with it.

Checkout 52

Checkout Payment Services Returns Shrinkage 52

RETAIL MANAGEMENT SOFTWARE

JUNE 3, 2024

However, maintaining accurate inventory records across multiple locations and channels can be challenging, particularly for retailers with large and diverse product catalogs. Inaccurate Inventory Counts : Manual inventory tracking methods are prone to errors, leading to discrepancies in stock levels and inventory shrinkage.

Apparel 52

Apparel Fashion Inventory Management Management 52

RETAIL MANAGEMENT SOFTWARE

JANUARY 8, 2025

Whether you’re managing a single store or a vast network of locations, a powerful POS system can streamline transactions, boost sales, improve inventory management, and provide valuable insights into your business performance. Manage multiple locations with centralized inventory tracking.

Payment Services 52

Payment Services Point of Sale Inventory Management Customer Experience 52

Retail Times

MARCH 30, 2021

Such solutions are also beneficial if you have several locations because they allow you to manage multiple stores from one place. For more information on how to reduce shrinkage, see our previous post on beefing up security and preventing loss in your store. Not ready for a full retail management solution? Further Reading. Learn More.

Merchant Services 98

Merchant Services Inventory Management Management Shrinkage 98

Retail TouchPoints

MAY 6, 2021

More than one-third of retailers say they are now heavily investing in flexible commerce platforms, where they might use their brick-and-mortar locations as fast-delivery warehouses in competition with the likes of Amazon, IDC says. But many retailers are seeing opportunities in using those locations as micro-fulfillment centers.

Fulfillment 344

Fulfillment Shrinkage Department Stores Returns 344

Retail TouchPoints

AUGUST 30, 2021

The catalog showroom approach was based on the idea that it reduced the risk of merchandise theft (known in the industry as shrinkage), while also enabling customers to shop without the inconvenience of carrying purchases throughout the store while you were still browsing.

Payment Services 279

Payment Services Shopping Jewelry Shrinkage 279

Retail TouchPoints

JUNE 15, 2022

Other retailers and QSRs are now seeing the value in controlling traffic flow and general store congestion by locating checkouts at more than one entrance, or expanding the area to reduce employee count and handle more transactions faster. 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

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