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

Retail TouchPoints

There’s been a lot of talk recently about retailers reporting lower-than-expected earnings due to inventory shrinkage. According to the Corporate Finance Institute , “Inventory shrinkage occurs when the number of products in stock are fewer than those recorded on the inventory list. What does this mean exactly?

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Investing in Security: How Physical Barriers Protect your Bottom Line

Retail TouchPoints

billion to theft, with organized retail crime (ORC) accounting for 37% of these losses. Retail chains across the country have even reported missing quarterly earnings expectations due to inventory shrinkage, highlighting a crisis that affects businesses of all sizes. In 2023, U.S. retailers lost a staggering $121.6

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Retail Risk Management And Business Protection From Emerging Threats

Retail Minded

Theft and Organized Retail Crime Retail theft continues to be a significant issue with significant shrinkage in inventory. The loss, due to the shrinkage, reached $142 billion in 2023, a 25% increase from the previous year. Slip-and-fall accidents account for increasing emergency room visits. billion in 2024, costing 6.5

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Effective Ways to Utilize Video Surveillance

Independent Retailer

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.

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Effective Ways to Utilize Video Surveillance

Independent Retailer

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.

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How smart new technologies are improving sales and reducing costs for retailers

Inside Retail

These technologies are helping retailers achieve efficiencies in operational functions including staff deployment and management, customer service, shrinkage reduction and lifecycle pricing. That extends the opportunity for the salesperson to build a rapport with the customer and potentially upsell. “We

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Inventory management for efficiency and experience

I Vend

Reduce spoilage and shrinkage – carrying excess stock of perishable or seasonal items risks those goods becoming unsaleable (except, perhaps at a large discount). Mis-recorded, mis-counted or misplaced inventory accounts for just over 25% ++ of shrinkage. Inter-store transfers Support for click and collect.