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How Retailers can Combat Inventory Shrinkage with Drone-Powered Warehouse Monitoring

Retail TouchPoints

The discrepancy may occur due to clerical errors, goods being damaged or lost, or theft from the point of purchase from a supplier to the point of sale.” If Stadium Goods loses the inventory, it’s accountable and has to pay the marketplaces for that product.

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Identifying the ‘Faces’ Behind Faceless Online Transactions

Retail TouchPoints

Further, making purchases online has become even easier with the emergence of point-of-sale (POS) lending, which allows consumers to split the cost of purchases into regular installments — even for a purchase as small as a $75 sweater. Because of this ease, merchants have begun relying on POS financing to drive sales growth.

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How Retailers can Combat the Rising Threat of Theft

Retail TouchPoints

External Theft According to the NRF, shoplifting and other forms of external theft, including burglary, accounted for 37% of reported shrink in 2022. Optimize inventory management: Like damaged products and shipping errors, theft can negatively impact retail inventory management. Despite your efforts to hire good people, the U.S.

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Trustwave SpiderLabs Report: The 2023 Retail Threat Landscape

Inside Retail

Retail’s weak points The Trustwave SpiderLabs’ report spotlights five vital business areas that allow retailers to remain profitable, but also offer avenues of attack to threat actors. Supply chain vulnerabilities : The complex web of suppliers, logistics partners, and distributors can introduce multiple points of vulnerability.

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Is unified commerce the new holy grail?

Inside Retail

Similarly, Zara allows its customers to return online store purchases free of charge within 30 days of shipping date, to any store or Australia Post drop point. Unified commerce enables the customer to purchase an item in-store and have it shipped home. Endless aisle. It changes the shopping experience for the better.

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The PR Perils of Inaccurate Sales Tax

Retail TouchPoints

A few years back, an attorney sued several wineries for allegedly not collecting sales tax on shipping charges in Illinois. Frontline customer service staff should have a reasonable understanding of sales tax. He has been listed among Accounting Today’s Top 100 Most Influential people for four years.

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Q4 Could Be Huge, But Most Retailers Have a Blind Spot

Retail TouchPoints

At the same time, retailers are acutely aware that ecommerce sales are continuing to grow as a percentage of overall holiday spending and, within that percentage, mobile sales in particular are skyrocketing. eMarketer expects retail mobile commerce sales to account for 43.4% of total retail ecommerce sales in 2023.