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 Drake recently began outing what he called “repeat offenders” by sharing CCTV footage on his social media account @shake.and.drake.

Shrinkage 147

Shrinkage Loss Prevention Supermarket Beauty and Health 147

Retail TouchPoints

NOVEMBER 10, 2022

If you also account for the data companies possess but don’t fully understand enough to act on, you begin to scratch the surface of the challenges marketers and agencies face today. The key is finding the measurement most closely related to your brand’s goals at each specific retailer.

Consumer 306

Consumer Advertising Shrinkage Planning 306

Small Biz Trends

JULY 26, 2022

It causes monetary shrinkage to income and manufacturers, along with other businesses for an extended period of time. And aligning these two is not only an accounting problem; it’s an operational responsibility of a business owner.” We know it’s no fun, but what is a recession , really?

Payment Services 111

Payment Services Shrinkage Accounting Management 111

Wiser

JANUARY 12, 2021

Doubling the wholesale cost allowed retailers to take into account fixed and variable costs, such as coupons, theft, returns, and other common margin-eaters while still turning a profit. Keystone pricing skips that middle step, simply doubling the wholesale price and hoping that accounts for any fixed and variable costs.

Wholesale 78

Wholesale Shrinkage Markdowns Returns 78

365 Retail

JUNE 28, 2022

In terms of the volume of incidents, internal theft accounts for over 22% of UK retail shrinkage according to the Centre for Retail Research. While loss through crime has always been a sad but inevitable reality of retail, there is a proven correlation between economic hardship and retail crime.

Management 52

Management Shrinkage Accounting Promotions 52

Retail TouchPoints

AUGUST 22, 2023

Marketplaces are required to collect and verify information — government IDs, contact details, bank accounts and tax identification numbers — of any seller that conducts more than 200 transactions and grosses a minimum of $5,000 in a 12-month period. When fraudsters’ identities are hidden, they are free of accountability.

Payment Services 246

Payment Services Shrinkage Accounting Consumer 246

Retail TouchPoints

NOVEMBER 7, 2023

Typically, ORC is reliant on a single entity, like an address, credit card or store account that connects a complex crime ring across retail stores. 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.

Loss Prevention 289

Loss Prevention Shrinkage Returns Payment Services 289

Retail Times

MARCH 30, 2021

For more information on how to reduce shrinkage, see our previous post on beefing up security and preventing loss in your store. And if you’re a Vend user, Scanner automatically syncs with your account, so there’s no need to deal with CSV files and email. Further Reading. Learn More. Collect on unpaid invoices. Increase sales.

Merchant Services 98

Merchant Services Inventory Management Management Shrinkage 98

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.

Payment Services 245

Payment Services Kiosk Marketing Shrinkage 245

I Vend

FEBRUARY 6, 2023

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.

Inventory Management 92

Inventory Management Management Shrinkage Returns 92