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Is it Time for RFID to Shine?

Retail TouchPoints

Retailers need to have a single view of their inventory across channels, and then that data has to be up-to-date and accurate,” said Greg Buzek, Founder and President of IHL Group in an interview with Retail TouchPoints. In 2021, the average cost of an RFID tag was four cents , down 80% from 2011, according to McKinsey.

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How Retailers can Combat the Rising Threat of Theft

Retail TouchPoints

According to the National Retail Security Survey released by the National Retail Federation (NRF), vanishing inventory contributed to $112 billion in losses last year alone — up significantly from $93.9 billion in 2021.

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Vitamin Shoppe CEO Sharon Leite Went Undercover in Her Stores. Here’s What She Learned.

Retail TouchPoints

The episode was shot in early 2021 and aired on Jan. It’s now available on-demand , which makes this a good time to issue a spoiler alert: if you haven’t seen the episode yet but plan to, don’t read any further until you have. As Leite shares at the end of the episode, she plans to triple the company’s revenue over the next five years.

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3 Expert Perspectives on Why Margin, Experience and Loyalty Will be Key to Winning Holiday 2022

Retail TouchPoints

Both 2020 and 2021 each had their own clear themes and pressures, and this holiday season will be defined by trying to understand what has changed. “ However, that demand has come and gone, and Kramer sees 2021’s sales growth of 14.1% Retailers are planning to cut back in one area: marketing. as an outlier.

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Supply chain confidence returning for retailers

Retail Focus

Research data revealed 17% of retailers have low confidence in supply chains returning to pre-2020 levels of normality, with an additional 3% having no confidence and believing supply chains this year will experience similar disruption to that seen in 2021. About the research: SAPIO Research surveyed 212 retailers nationwide in January 2022.

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How to Build a Modern Supply Chain That’s Built to Last

Retail TouchPoints

For example, the global automotive industry lost $210 billion in 2021 due to a lack of semiconductor chips. A key reason automotive manufacturers were hit so hard was their over-reliance on just-in-time (JIT) inventory systems, in which raw materials arrive when production is scheduled to begin, leading to excess inventory upstream.

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Convenience Increasingly Trumping Cost on Online Shoppers’ Priority List

Retail TouchPoints

and UK shoppers between December 2020 and January 2021 — saw a whopping 83% of respondents indicate that convenience was more important to them in online shopping than it was five years ago. In fact, 78% of those surveyed said they value ease and convenience more now than they did prior to the pandemic. Source: Linnworks.