Retail TouchPoints

AUGUST 22, 2023

The INFORM (Integrity, Notification, and Fairness in Online Retail Marketplaces) Consumers Act, which went into effect in late June 2023, marks a significant step forward in curbing online fraud by third-party sellers and organized theft from retail stores. Here is the gist of the INFORM Act. But compliance can be complicated.

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Payment Services Accounting Shrinkage Consumer 226

Retail TouchPoints

FEBRUARY 21, 2023

Retailers that understand the customer journey and adopt innovative strategies are looking at ways to turn their brick-and-mortar stores into experience centers. 5G provides an alternate method to keep the store connected at all times. 5G can reduce wasted time and prevent inventory shrinkage, providing retailers with cost savings.

Sporting Goods 227

Sporting Goods Payment Services Shrinkage Point of Sale 227

Inside Retail

NOVEMBER 15, 2022

As consumers expect more environmentally sustainable solutions for the packaging of products and deliveries, shippers may be missing equally compelling reasons to make the switch: significant cost savings and an increase in operational flexibility. They need to move towards sustainable packaging as their consumers increasingly demand that.

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Retail TouchPoints

AUGUST 4, 2023

Consumers are also becoming more exposed to self-checkout options, and they are in turn becoming more normalized and natural. The growing exposure of travelers to self-service options has led to consumers preferring them as they are much more convenient than previous models. This form of welfare helps boost employee satisfaction.

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Payment Services Kiosk Marketing Shrinkage 220

Retail TouchPoints

OCTOBER 25, 2021

Thanks to vastly reduced latency and increased speeds, it allows significantly more devices to access the internet at the same time. Immersive shopping experiences: 5G supports a range of augmented reality (AR) and virtual reality (VR) solutions that will deliver immersive experiences, changing how consumers interact with products.

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Retail TouchPoints

MAY 31, 2022

5G is really three things — speed , latency and massive connectivity ,” said Michael Colaneri, a 30-year AT&T veteran who now leads the telecom’s retail business vertical. Here are five places where 5G-enabled experiences/solutions are either being tested or have already been deployed at retail. What is 5G, Really?

Merchant Services 342

Merchant Services Checkout Shrinkage ATS 342

Wiser

FEBRUARY 29, 2024

Panelists highlighted the frustration with labor scarcity in an environment where consumer demands and expectations are constantly evolving. As detailed by industry experts at the panel, the impact of staffing shortages extends beyond the bottom line. It affects every aspect of operations—from stocking shelves to customer service.

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Shrinkage Inventory Management Loss Prevention Consumer 78

Retail TouchPoints

JUNE 15, 2022

The chatter of the store “being dead” is evolving from belief that the physical store is fading amid the shift to digital, to seeing that it’s the role of the store that is changing — and a vital one at that. To curb shrinkage, self-pay via an app is used to let shoppers and guests purchase items themselves. Appointments.

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Payment Services Checkout Shrinkage Fast Fashion 252

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 The everyday consumer experience will drastically change with less stock readily available to be viewed on the showroom floor,” he concluded.

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Shrinkage Loss Prevention Location Planning 130

Mass Relators

DECEMBER 12, 2022

The newfound willingness of executives to publicly discuss retail crime and its impact on consumers is a welcome development. 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.” billion, compared to $90.8

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Shrinkage Loss Prevention Consumer Shopping 52

Retail TouchPoints

NOVEMBER 23, 2022

A worldwide pandemic kept shoppers hunkered down at home and out of malls and stores for two years. It was then that consumers developed a ravenous appetite for online shopping and speedy home delivery, while losing their taste for city centers and malls. The expected bounce-back has, at best, developed slowly.

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Merchant Services Shrinkage Store Layout Customer Experience 271

Retail TouchPoints

MAY 6, 2021

The problem became even more acute amid the pandemic, with consumers increasingly coming to expect free delivery and returns. Competitive companies rely on focus and understanding their core competencies, solving tasks such as shrinkage and stock-out, and then taking those savings to tackle larger AI projects.

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Fulfillment Shrinkage Department Stores Returns 332

I Vend

FEBRUARY 6, 2023

‘Out of stock’ – a phrase that no retailer wants to utter, and no consumer wants to hear. Not being able to buy what they want frustrates consumers, who are demanding that retailers are ‘never out of stock *. At the same time, we’re seeing increasing stock outs, with 80% * of shoppers saying they saw a decline in stock levels in 2022.

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Inventory Management Management Shrinkage Returns 98

Independent Retailer

JULY 8, 2021

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. Reduce Retail Theft .

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Loss Prevention Shrinkage Management Location 98

Wiser

JUNE 23, 2020

Mobile payments and rewards, the drive to provide healthier options, and consumers’ demand for fast service without compromising on quality have affected every type of restaurant. In this article, we’ll look at what quick service restaurants can do to grow their businesses while staying true to what consumers have always loved about them.

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Payment Services Shrinkage Location Marketing 78

Independent Retailer

JULY 8, 2021

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. Reduce Retail Theft .

Loss Prevention 90

Loss Prevention Shrinkage Management Location 90

Retail TouchPoints

AUGUST 30, 2021

At its peak, the company achieved more than $4 billion in annual sales. These items included many children’s toys as well as smaller consumer or commodity items such as batteries, film and videocassettes. After leaving the wholesale business, the couple opened Service Merchandise, Inc., Gabe Grifoni is CEO of Rufus Labs.

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Payment Services Shopping Jewelry Shrinkage 260

Inside Retail

DECEMBER 16, 2021

In the fashion industry, Korea has a reputation for being at the forefront of trends. Based on their experience in the industry, they knew consumers were attracted to cute designs, and by pairing them with the emerging oversized fit trend, ADLV became an instant hit. But that is starting to change. Riding the hallyu wave.

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Shrinkage Fashion Marketing Consumer 130

Independent Retailer

JULY 29, 2022

Interactive fitting rooms increase consumer engagement by providing outfit and accessory suggestions, size availability, and color options. The most common area in-store that retailers focus on to improve customer engagement is at the Point of Sale (POS). by Dean Frew. retail industry $47 billion in 2017.

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Customer Experience Shrinkage Checkout Inventory Management 77

Star Miconics

APRIL 12, 2024

Modern Labeling Technology The teams at these shops must ensure they work accurately; mistakes and shrinkage can account for 4-10% of inventory loss. By using linerless sticky labels, your business can enhance order accuracy, significantly reducing shrinkage and boosting profitability.

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Shopping Shrinkage Kiosk Returns 59

A1 Retail

OCTOBER 12, 2021

By Ofri Ben Porat, Chief Executive Officer at Edgify. Loss prevention teams call this inevitable outcome “external shrinkage”. Which is why it is so encouraging to see retailers utilising new technology to reduce the impact of shrinkage. Instead, it’s possible to train deep learning AI models at the point of sale (PoS).

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Shrinkage Loss Prevention Checkout Supermarket 40

Nvidia

JANUARY 13, 2022

At the National Retail Federation’s annual trade show, conversations tend to touch on recurring themes: “Will we be able to stock must-have products for next Christmas?,” “What incentives can I offer to loyal workers?” and “What happens to my margins if Susie Consumer purchases three of the same dresses online and returns two?”.

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Shrinkage Checkout Inventory Management Point of Sale 115

Frank Mayer

JANUARY 14, 2022

As the new year dawns, 2022 CX strategies across industries will continue to center on convenience and consumer satisfaction by nurturing omnichannel plans and implementing the latest technology. In short, now they can toggle between shopping methods depending on what’s convenient at the moment.”. The Hybrid Shopping Experience.

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Customer Experience Kiosk Checkout Shrinkage 79

Wiser

JANUARY 12, 2021

Retailers that strive for perfection in their pricing strategies would often be better served by trying for good first, then perfecting their approaches based on how consumers react to the prices of their goods. Likewise, if your sales volume is extremely high at launch, you could raise the selling price to increase your margin.

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Wholesale Shrinkage Markdowns Returns 78

Retail Times

MARCH 30, 2021

Keeping track of products using a pen and paper isn’t just time-consuming, it can also lead to mistakes. Perhaps you need to reschedule shipments to make sure that deliveries don’t happen all at once, or maybe you need to assign someone to double check the packing slips. Dealing with theft? Further Reading. I call it velocity reports.

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Merchant Services Inventory Management Management Shrinkage 98

Retail Geek

NOVEMBER 30, 2021

Episode 282 is a breakdown of November Holiday and CyberWeek sales with Rob Garf, VP and GM, Retail at SalesforceVP and GM, Retail at Salesforce. Rob Garf ( @retailrobgarf ) is VP and GM, Retail at Salesforce. We cover e-commerce sales in November 2021 vs 2020 and 2019.

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Shipping Consumer Shopping Promotions 52