Retail TouchPoints

NOVEMBER 10, 2022

It now sits at an estimated 22% of all sales, according to a 2022 Morgan Stanley global ecommerce forecast report , which notes that “Over the long term, the ecommerce market has plenty of room to grow and could increase from $3.3 Global ecommerce rose from 15% of total retail sales in 2019 to 21% in 2021. trillion today to $5.4

Consumer

Retail Focus

JUNE 10, 2024

During the reporting period, shoplifting offences amounted to 430,104, an increase of 37% when compared with the 315,040 offences noted during the year ending December 2022. Key findings from the report include the number of incidents rising to 1,300 per day in 2022-23 from around 870 per day in the previous year.

Loss Prevention

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

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.

Shrinkage

Inside Retail

DECEMBER 16, 2021

Following its entry into the Australian market, ADLV is looking to launch in Singapore, Malaysia and Vietnam in 2022, and Europe in 2023. The fabric also goes through a ‘tender’ process to prevent the clothes from losing their shape, and is wetted and dried in a machine to minimise shrinkage. Heading to Europe in 2023.

Shrinkage

Independent Retailer

JULY 29, 2022

According to the NRF National Retail Study 2018 , inventory shrinkage costs the U.S. RFID technology can provide a technological solution to retailers by supplying knowledge of where the item went missing, allowing them to mitigate the impact of shrinkage by adjusting inventory levels to replace missing or out of stock items.

Customer Experience

I Vend

FEBRUARY 6, 2023

At the same time, we’re seeing increasing stock outs, with 80% * of shoppers saying they saw a decline in stock levels in 2022. Reduce spoilage and shrinkage – carrying excess stock of perishable or seasonal items risks those goods becoming unsaleable (except, perhaps at a large discount).

Inventory Management

Nvidia

JANUARY 13, 2022

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. The NVIDIA AI Enterprise platform is helping retailers weather challenges expected to continue well beyond 2022. Retail Goes AI .

Shrinkage

Inside Retail

SEPTEMBER 20, 2023

In 2022-23 the largest industry of business closures was in retail trade, with the number of businesses decreasing by over 2,200. IR: Why do you think mental health outcomes have not improved for retail staff following the pandemic? IR: What would more support for staff to improve mental health outcomes look like in a retail setting?

Shrinkage

Inside Retail

JUNE 28, 2022

The software is used to gather evidence on repeat offenders, and is largely used to prevent theft and shrinkage. According to Reddit users, Woolworths and rival Coles use a software called Auror Crime Intelligence that shares data with other retailers on its network as well as collaborating law enforcement agencies.

Consumer

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.” McMillon told CNBC that Walmart is taking steps to enhance security at vulnerable stores and working with law enforcement agencies to combat shrinkage.

Shrinkage

Mass Relators

OCTOBER 25, 2023

According to the National Retail Federation (NRF), retailers lost $112 billion due to shrink in 2022, up from nearly $94 billion in 2021. Eight in 10 retailers agree minimizing fraud/shrink is a significant challenge (82%), and the ability to forecast demand is important to their organization (86%).

Checkout

Retail TouchPoints

JUNE 15, 2022

To curb shrinkage, self-pay via an app is used to let shoppers and guests purchase items themselves. According to one survey , more than one-third of retailers plan to invest in livestream shopping in 2022, and 30% also intend to implement virtual reality shopping. Social Shopping (Livestream).

Payment Services