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.

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Shrinkage Clienteling Outdoor Consumer 115

Inside Retail

FEBRUARY 21, 2024

Like many Australian retailers, The Reject Shop is facing some near-term margin pressure from higher shrinkage and rising costs. The company is well placed to navigate these challenges with its strong balance sheet, which comprises over $80 million of cash and no drawn debt,” added Fisher.

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Shrinkage Shopping Planning Consumer 255

Retail TouchPoints

APRIL 5, 2024

Rising wages, inflation and higher losses due to shrinkage are among the culprits, said Thomas, particularly in the case of 99 Cents Only, which has a large base of stores in California, a state that has been leading the way in minimum wage increases.

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Location Shrinkage Finance Management 263

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

Miller Zell

SEPTEMBER 11, 2023

Discover how purposeful store design can enhance the shopping experience while reducing shrinkage.

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Shrinkage Shopping 52

Retail Wire

DECEMBER 7, 2023

The NRF recently corrected a previous claim concerning inventory losses or "shrinkage," after a media investigation exposed inaccuracies in its analysis.

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Shrinkage 130

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. Others with the technical expertise and resourcing are creating custom AI solutions internally.

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Fulfillment Shrinkage Department Stores Returns 344

Retail Wire

JANUARY 19, 2023

Retailers have pointed to a rise in organized retail crime as a prime driver of shrinkage in the U.S. The average shrink rate as a percentage of retail sales was 1.4 percent in 2021, down from 1.6 percent in 2020, based on National Retail Federation figures.

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Shrinkage 130

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. Providing retailers with enhanced data on usage patterns can further streamline operations and reduce wasted inventory.

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Payment Services Shrinkage Consumer Accessories 317

Retail Wire

MARCH 13, 2023

Retailers have reported a rise in shrinkage at the same time that more people are going to stores to shop. “We definitely had an uptick since last year,” Macy’s CEO Jeff Gennette said on the retailer’s earnings call. “It’s an industrywide trend.”

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Shrinkage Shopping ATS 130

Retail Dive

SEPTEMBER 16, 2022

In response to shrinkage concerns, retailers expect to spend more on loss prevention and technology, a new NRF survey found.

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Shrinkage Loss Prevention 122

Retail Focus

JUNE 10, 2024

“Our forward-thinking and proactive approach to projects is why retailers turn to us to combat stock shrinkage, collaborating with retailers by understanding their unique challenges. “We

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Loss Prevention Shrinkage Point of Sale Shopping 147

Inside Retail

MARCH 4, 2022

Maximise profits, minimise shrinkage. Shrinkage is a problem that affects up to 95 per cent of all businesses, and it hurts everyone (business owners, employees, customers). Cash-In-Transit (CIT) services. Banking fees. The great news is, all of these costs can be cut, and cut significantly, with cash recycling.

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Shrinkage Payment Services Customer Experience Accounting 162

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.

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Shrinkage Management ATS 100

Retail Wire

OCTOBER 3, 2023

Demand shrinkage has led both companies to fight for business, resulting in opportunities for customers to reduce shipping costs. After more than four years, U.S. retailers and other delivery customers are gaining the upper hand in negotiations with UPS and FedEx, securing discounts, a reversal from 2021 and the first half of 2022.

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Shrinkage Shipping 113

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.

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Loss Prevention Shrinkage Returns Payment Services 297

Inside Retail

SEPTEMBER 3, 2024

Loss prevention: AI combats retail shrinkage also, by integrating computer vision and motion analytics at self-checkouts, detecting suspicious activities and ultimately reducing theft. AI can identify the fastest retrieval routes, automate markdown processes, and provide real-time inventory insights, ultimately improving your margins.

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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. The Smart in Smart Video. Organizations worldwide are finding creative new ways to put these capabilities to work.

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Merchant Services Shrinkage Store Layout Customer Experience 290

Retail TouchPoints

FEBRUARY 21, 2023

5G can reduce wasted time and prevent inventory shrinkage, providing retailers with cost savings. Delivery and stocking experiences: 5G can support massive IoT connectivity, which can be used to improve product tracking capabilities. A pallet of goods can be tracked from departure at the manufacturing site through transit to the store.

Sporting Goods 264

Sporting Goods Payment Services Shrinkage Point of Sale 264

Retail TouchPoints

NOVEMBER 10, 2022

That lens could include category sales share, unit volume/share, percent of ad sales versus total sales, percentage of ecom sales versus total sales, Total Advertising Cost of Sale ( TACoS) and competitor growth/shrinkage, which are all viable KPIs with varying levels of available measurement.

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Consumer Advertising Shrinkage Marketing 306

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.

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Customer Experience Kiosk Shrinkage Shipping 277

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.

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Payment Services Kiosk Marketing Inventory Management 246

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

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Shrinkage Department Stores Management Supermarket 245

Inside Retail

NOVEMBER 15, 2022

An environmentally-friendly paper protection product can also drive a substantial reduction in returns because there is less damage to goods inside the package and less shrinkage, thanks to the boxes being glued rather than taped shut, making it easier to detect tampering.

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Drop-Shipping Shipping Dead-Stock Shrinkage 246

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. The software essentially helps brands understand what demand will be.

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Loss Prevention Shrinkage Inventory Management Markdowns 147

Retail TouchPoints

MAY 31, 2022

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.

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Merchant Services Checkout Shrinkage ATS 354

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.”

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Shrinkage Consumer Checkout Supermarket 130

Retail TouchPoints

AUGUST 22, 2023

It took a couple of years to push through the INFORM legislation aimed at reducing ORC, and during that time thousands of stores closed because shrinkage became unacceptable. As the losses from ORC soared into the tens of billions across the U.S.,

Payment Services 246

Payment Services Accounting Shrinkage Consumer 246

Retail TouchPoints

JUNE 15, 2022

To curb shrinkage, self-pay via an app is used to let shoppers and guests purchase items themselves. Roaming checkout enables employees to take payments from shoppers from anywhere inside the store. They simply scan the item or put it in their cart on their phone, pay and walk out with item in tow.

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Payment Services Checkout Shrinkage Fast Fashion 264

Retail Gazette

FEBRUARY 28, 2024

Simcock said headsets being worn by staff in some Waitrose stores was helping to increase customer metrics, reduce shrinkage and help employees “feel safer”. The Partnership is using AI for forecasting and experimenting with other technologies such as “virtual manuals and digital wallets”.

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Shrinkage Customer Experience Planning Department Stores 110

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.

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Markdowns Supermarket Shrinkage Consumer 162

Retail Gazette

APRIL 4, 2024

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”. Instead the mutual is linking AI to CCTV cameras to track what items are put into bags at self-checkouts.

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Checkout Shrinkage Management ATS 126

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.

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Loss Prevention Shrinkage Management Location 98

I Vend

MAY 8, 2024

An integrated wine and liquor store POS system allows retailers to analyze data from every part of the system – sales, inventory, customer behaviours – and make informed business decisions, build campaigns, pinpoint areas of shrinkage, and identify processes and areas of the business that need attention.

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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.

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Loss Prevention Shrinkage Management Location 94

Wiser

APRIL 23, 2019

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

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Shrinkage Inventory Management Fulfillment Location 100

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

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Shrinkage Loss Prevention Supermarket Beauty and Health 147