365 Retail

OCTOBER 12, 2023

Don’t Blame Shrinkage: Why Poor Digital Strategy Might Be Responsible for Retail Uncertainty While retail is a cyclical industry, it’s important to be honest about transformations, negative and positive, in the industry. Certainly, these elements make an impact. This allows them to be more self directed, more autonomous, more entrepreneurial.

Shrinkage 115

Shrinkage Clienteling Outdoor Consumer 115

Inside Retail

JUNE 6, 2021

Retailers face continual challenges with increasingly sophisticated shoplifters causing in-store ‘shrinkage’. The FoxTag detacher is designed with additional security features to help reduce stock shrinkage and increase store profitability.

Loss Prevention 243

Loss Prevention Shrinkage Shopping Returns 243

Retail TouchPoints

OCTOBER 25, 2021

The increased bandwidth from 5G provides 360-degree visibility across the entire supply chain, removing much of the friction from existing processes and reducing losses such as inventory shrinkage. Gareth Smith is General Manager for Eggplant , a Keysight Technologies company.

Payment Services 317

Payment Services Shrinkage Consumer Accessories 317

I Vend

FEBRUARY 6, 2023

iVend Retail Inventory Management Inventory management drives store efficiency and customer experience. Read about iVend’s smart retail technology for inventory management. Inventory management systems give retailers visibility of all their stock, wherever it is.

Inventory Management 98

Inventory Management Management Shrinkage Returns 98

Retail TouchPoints

MAY 6, 2021

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. Azita Martin is General Manager of AI for Retail and CPG at NVIDIA. McKinsey & Company projects that businesses will gain between $1.3

Fulfillment 344

Fulfillment Shrinkage Department Stores Returns 344

Retail TouchPoints

FEBRUARY 21, 2023

5G can reduce wasted time and prevent inventory shrinkage, providing retailers with cost savings. Better communication between in-store staff, store managers and supply chain personnel via 5G devices will allow for responding to customer queries. 5G-enabled tools can allow for order picking and inventory management.

Sporting Goods 264

Sporting Goods Payment Services Shrinkage Point of Sale 264

Inside Retail

SEPTEMBER 3, 2024

Inventory management Predictive analytics: This helps optimise your stock levels, preventing overstocking and stockouts. We all know that omnichannel is a challenge to manage against the product and customer objectives of your brand or business. This means you can get the most out of each product you are selling.

Loss Prevention 245

Loss Prevention Checkout Shrinkage Supply Chain Management 245

Retail TouchPoints

NOVEMBER 23, 2022

AI-powered solutions with object and people detection can help retailers reduce shrinkage and improve safe shopping conditions. Video analytics can help reduce long queues by determining if groups are backing up in line near cash registers, automatically alerting managers that more help is needed at these locations.

Merchant Services 290

Merchant Services Shrinkage Store Layout Customer Experience 290

Retail TouchPoints

NOVEMBER 7, 2023

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

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 Worse still is that the figures reported to management and associations are likely just the tip of the iceberg.

Shrinkage 245

Shrinkage Department Stores Management Supermarket 245

Retail TouchPoints

AUGUST 4, 2023

While airports are “public spaces” and micro markets have traditionally been in “closed environments,” the risk of shrinkage outweighs the cost of employee overhead, and since people have already been through security this provides a perception of oversight. The inventory management features also help operators track any theft.

Payment Services 246

Payment Services Kiosk Marketing Inventory Management 246

Retail Wire

SEPTEMBER 1, 2023

While major retailers like Target, Walmart, and Dick’s have raised concerns about rising retail theft, Best Buy has managed to maintain a stable rate of shrinkage, according to CEO Corie Barry.

Shrinkage 100

Shrinkage Management ATS 100

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. And that’s where your Workforce Management systems come into play,” says Bretherton.

Loss Prevention 147

Loss Prevention Shrinkage Inventory Management Markdowns 147

Retail TouchPoints

MAY 31, 2022

Now we’re partnering with companies like Google, Microsoft and Amazon that manage that data processing in the cloud to power whatever it is that retailers want to do, and you can do these things with a smartphone.”. In-Store Inventory Management. stores — the future is here folks. 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 277

Customer Experience Kiosk Shrinkage Shipping 277

Retail TouchPoints

JUNE 15, 2022

Customers book an appointment online and then shop in-store, creating a more curated feel while making life easier for associates to manage. To curb shrinkage, self-pay via an app is used to let shoppers and guests purchase items themselves. This trend is happening in other areas, too.

Payment Services 264

Payment Services Checkout Shrinkage Fast Fashion 264

Retail TouchPoints

NOVEMBER 11, 2024

Unlike surge pricing or dynamic pricing, dynamic markdowns ensure consumers consistently receive the best value while helping retailers manage inventory and reduce shrinkage. It’s a win-win situation: Lowering costs while enabling retailers to move inventory, maintain profitability and minimize food waste.

Markdowns 162

Markdowns Supermarket Shrinkage Consumer 162

I Vend

MAY 8, 2024

Inventory management – Managing inventory in wine and liquor retail can prove to be a big headache. FAQs: What defines an integrated POS management system? It enables retailers to digitize and automate key processes, such as inventory management or loyalty and promotions.

Shrinkage 91

Shrinkage Inventory Management Payment Services Point of Sale 91

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

NOVEMBER 17, 2024

He believes AI-powered computer vision technology used to reduce shrinkage will help identify instances of customers swapping cheap items for expensive ones by changing labels. It could be just simply for video recording for post-event analysis, or it could be real-time using computer vision.”

Shrinkage 130

Shrinkage Consumer Checkout Supermarket 130

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 94

Loss Prevention Shrinkage Management Location 94

Retail Gazette

APRIL 4, 2024

Retail crime cost The Co-op £70m last year, according to food managing director Matt Hood, as the mutual turns to AI to stamp out theft at self-checkouts. Hood said despite evidence pointing to the fact that self-checkouts do lead to an increase in shrinkage, he would not strip them out of stores as they make “convenience more convenient”.

Checkout 126

Checkout Shrinkage Management ATS 126

Retail Focus

AUGUST 8, 2023

Order Fulfillment When outsourcing, retailers can benefit from streamlined inventory management, order processing, and shipping. By outsourcing payroll management, timely salary disbursements, tax deductions, and labor regulation compliance become hassle-free.

Loss Prevention 130

Loss Prevention Inventory Management Inventory Turnover Shipping 130

I Vend

DECEMBER 10, 2023

Inventory management – ‘the right goods, in the right place, at the right time’ sums up the core of retail. So inventory management is essential. Retail technology can streamline inventory management by enabling retailers to accurately track goods from delivery to sale through to returns.

Shrinkage 94

Shrinkage Inventory Management Store Layout Checkout 94

RETAIL MANAGEMENT SOFTWARE

JULY 29, 2024

Top-performing teams: Pinpoint-Specific Problems: Retailers often face significant inefficiencies in pricing & promotion execution and managing stocks. Less than 30% report having true visibility into managing stocks, pricing and promotion execution, planogram compliance, and allocation and assortment planning.

Inventory Management 96

Inventory Management Shrinkage Promotions Store Operations 96

Wiser

APRIL 23, 2019

Phantom inventory is particularly challenging because your inventory management system says the products are in-stock, but the shelves are empty. Shrinkage – Shrinkage occurs when a product is lost due to employee theft, shoplifting, or another unknown reason. . You can’t fix what you don’t know is even a problem.

Shrinkage 100

Shrinkage Inventory Management Fulfillment Location 100

Retail Assist

OCTOBER 16, 2024

For growing retailers, managing inventory effectively is crucial to customer satisfaction, operational costs and growth potential. Here are some of the most critical inventory management challenges that retailers are facing today. This efficient approach minimises shrinkage and operational costs, supporting scalable growth.

Inventory Management 52

Inventory Management Management Shrinkage Returns 52

365 Retail

SEPTEMBER 1, 2024

By giving real-time inventory level information, IoT is transforming this part of retail so that stores may more precisely and effectively manage their inventories. Reducing Shrinkage: In retail, inventory shrinkage brought on by theft, fraud, or mistakes presents a major problem.

Payment Services 122

Payment Services Shrinkage Checkout Consumer 122

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

Wiser

JUNE 23, 2020

As consumers grow more accustomed to using their smartphones for payment and rewards management, your QSR is likely to see the same trend if you are able to implement a similar system. Reduce Shrinkage. Shrinkage occurs when inventory goes missing, or shrinks, due to employee theft, customer theft, vendor fraud, or cashier error.

Payment Services 78

Payment Services Shrinkage Location Marketing 78

DMS Retail

AUGUST 17, 2021

Receive practical check list and other tools to use when implementing Loss Prevention programs in their organization.

Loss Prevention 59

Loss Prevention Shrinkage Planning Management 59

Wiser

JULY 22, 2024

This strategic resource allocation helps manage inventory and meet customer expectations across channels. Inventory Management: Redeploying retail broker partners to ensure accurate inventory levels and address auto-replenishment failures is critical to managing stock levels effectively.

Shrinkage 78

Shrinkage Inventory Management Management Consumer 78

Nvidia

JANUARY 13, 2022

Beyond addressing labor shortages, these autonomous stores provide live inventory management and prevent shrink. NVIDIA partners Everseen and Graymatics provide asset protection applications at the point of sale to reduce shrinkage and provide customers a faster self-checkout experience. Improving Logistics.

Shrinkage 115

Shrinkage Checkout Inventory Management Point of Sale 115

Independent Retailer

JULY 29, 2022

RFID is rapidly gaining implementation within the retail sector and is a key technology applied to aid business operations by improving inventory management and stock visibility as the foundation of adoption. Enhanced Inventory Management. According to the NRF National Retail Study 2018 , inventory shrinkage costs the U.S.

Customer Experience 82

Customer Experience Shrinkage Checkout Inventory Management 82

365 Retail

JUNE 28, 2022

In terms of the volume of incidents, internal theft accounts for over 22% of UK retail shrinkage according to the Centre for Retail Research. Store managers should be prudent and seek ways to mitigate this problem before it escalates. But putting aside theft from external sources, much can be done to head off the threat from within.

Management 52

Management Shrinkage Accounting Promotions 52

Wiser

FEBRUARY 29, 2024

Retail staff are grappling with managing various store sections and transitioning to fulfilling online orders, resulting in reduced in-store efficiency. These operational hurdles not only impact revenue streams but also affect customer satisfaction levels, highlighting the importance of streamlined inventory management practices.

Shrinkage 78

Shrinkage Inventory Management Loss Prevention Consumer 78

Small Biz Trends

JULY 26, 2022

It causes monetary shrinkage to income and manufacturers, along with other businesses for an extended period of time. In this section , Stoyan and Shawn discuss what happens during a recession and wh ere small businesses can make changes to manage it. We know it’s no fun, but what is a recession , really?

Payment Services 111

Payment Services Shrinkage Accounting Management 111