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. This is particularly helpful for someone bringing a new product to market, where there is no sales history.”

Loss Prevention 147

Loss Prevention Shrinkage Inventory Management Markdowns 147

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.

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.

Loss Prevention 94

Loss Prevention Shrinkage Management Location 94

Retail Focus

AUGUST 8, 2023

Security and Loss Prevention Ensuring the security of your retail store and merchandise is paramount. Outsourcing security and loss prevention services to professionals can significantly reduce the risk of theft, shoplifting, and inventory shrinkage.

Loss Prevention 130

Loss Prevention Inventory Management Inventory Turnover Shipping 130

Inside Retail

MAY 19, 2021

We lose approximately $10 million a year on shrinkage – that covers a range of things but the majority of that is goods that are unaccountable,” Drake said. “It’s Incidents of theft are on the rise with Drakes’ 50+ stores across Queensland and South Australia experiencing shoplifting on a weekly basis. “We

Shrinkage 147

Shrinkage Loss Prevention Supermarket Beauty and Health 147

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. It’s the best move they can make,” he noted.

Shrinkage 130

Shrinkage Loss Prevention Location Planning 130

I Vend

DECEMBER 10, 2023

Loss prevention – in the US alone, retailers lose around $100 million a year to shrinkage, + which is a direct hit on the bottom line. Loyalty information ensures customers are recognised in store as well as online; and ensures that promotions are 100% aligned with shopping preferences.

Shrinkage 94

Shrinkage Inventory Management Store Layout Checkout 94

Inside Retail

JUNE 28, 2022

The software is used to gather evidence on repeat offenders, and is largely used to prevent theft and shrinkage. There’s the argument that the stores are using [facial recognition] for loss prevention, and to improve their ability to identify those that are engaging in criminal behaviour or theft.

Consumer 130

Consumer Payment Services Shrinkage Loss Prevention 130

Mass Relators

DECEMBER 12, 2022

Fueled by a surge in organized retail crime, shrinkage costs the industry almost $100 billion a year, according to National Retail Federation’s “2022 Retail Security Survey.” The study, conducted with the Loss Prevention Research Council, found that the average shrink rate in 2021 was 1.4%, resulting in losses of $94.5

Shrinkage 52

Shrinkage Loss Prevention Consumer Shopping 52

Wiser

FEBRUARY 29, 2024

The scarcity of labor is exacerbating shrinkage issues, with reduced in-store supervision affecting loss prevention efforts and hampering efficient inventory management practices.

Shrinkage 78

Shrinkage Inventory Management Loss Prevention Consumer 78

A1 Retail

OCTOBER 12, 2021

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. Loss prevention teams call this inevitable outcome “external shrinkage”. But is this a prime example of too much, too soon?

Shrinkage 40

Shrinkage Loss Prevention Checkout Supermarket 40

Mass Relators

OCTOBER 25, 2023

Many retailers expect to deploy loss prevention analytics (49%) and demand planning and forecasting (54%) by 2026. While omnichannel shopping causes challenges for retailers, most shoppers prefer options. The Zebra study indicates 36% of retailers believe better analytics on shrink could help drive profitability.

Checkout 52

Checkout Payment Services Returns Shrinkage 52