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And process returns of stuff people don’t want! They likely need to host events, too, since store events are all the rage. Keep the stores tidy. Follow evolving protocols as they relate to lossprevention. And even for each retailer, POS needs could vary store by store. Personalize the experience.
One prime example: the retailer’s partnership with RetailNext to use in-store traffic analytics for shaping everything from staffing strategies to improving store performance and even lossprevention. But in the process, he fell back in love with the business he had grown up in, and the plan changed. “I
As the tactics behind these crimes become increasingly sophisticated, and customer expectations for in-store experiences are higher than ever, retailers are finding it more difficult to protect their assets while maintaining great service. Throughout his retail career, lossprevention remained a focus.
Automated security policies and scheduled compliance reviews lighten your security team’s workload while reducing the potential for security breaches caused by credential abuse. Securing your retail operation today means more than installing cameras and protecting perimeters. Cybersecurity is a shared responsibility.
Technology — specifically edge computing — provides the foundation for a better customer experience, real-time inventory management, enhanced security and lossprevention and in-store analytics. The National Retail Foundation estimated that retail loss is a nearly $100 billion problem, with evidence that the problem is growing.
According to the 2022 Organized Retail Crime Survey from the National Retail Federation, in partnership with Appriss Retail and the LossPrevention Research Council, for every $1 billion in revenue that a U.S. Organized retail crime is a growing problem. retailer makes, more than $700,000 is lost due to ORC.
Instead of only shipping to customers’ homes, retailers let online customers shop from their local and online store’s inventory and pick up their orders from their closest brick-and-mortar location the same day. A retail fulfillment process that is known as BOPIS — Buy Online, Pickup In-Store. What is BOPIS?
Every retail store has unique property characteristics that should be taken into consideration when deciding on physical security — one of which includes where your store is located. When designing your retail space, where and how you use security cameras is key to lossprevention.
And there was certainly some reality to it: the Retail TouchPoints 2023 StoreOperations Benchmark Survey of retailers themselves revealed that “reducing theft/shrink” was a top store-level workforce management challenge for 46% of respondents, second only to the 53% citing employee training and empowerment.
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