Inside Retail

JUNE 6, 2021

Retailers face continual challenges with increasingly sophisticated shoplifters causing in-store ‘shrinkage’. The FoxTag detacher is designed with additional security features to help reduce stock shrinkage and increase store profitability. It’s the optimal high-quality, reliable, and durable solution to retail stock protection.

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Loss Prevention Shrinkage Shopping Returns 243

Inside Retail

JANUARY 30, 2024

Retailers worldwide may be facing challenging times right now, but the evolution of technology – including the deployment of AI – is opening the way to dramatic improvements in productivity at all stages of the retail business model. You are optimising the value of that product by discounting at the right time, rather than too early.”

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Loss Prevention Shrinkage Inventory Management Markdowns 147

Retail Gazette

FEBRUARY 28, 2024

Speaking at the Smart Retail Tech Expo this week, she said: “I was in one of our supply chain depots where we’re rolling out robots at the moment, and the picking robots are super cool, but they’re removing jobs. “I

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Shrinkage Customer Experience Planning Department Stores 109

Inside Retail

MARCH 4, 2022

It captures a philosophy that sits at the heart of every successful enterprise. Glory’s cash recycling solutions can be used individually at the POS or in the back office, or they can create a full “Closed Loop” system in which your employees no longer need to handle cash at all. Maximise profits, minimise shrinkage.

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Shrinkage Payment Services Customer Experience Accounting 162

Retail Gazette

APRIL 4, 2024

Retail crime cost The Co-op £70m last year, according to food managing director Matt Hood, as the mutual turns to AI to stamp out theft at self-checkouts. Hood said despite evidence pointing to the fact that self-checkouts do lead to an increase in shrinkage, he would not strip them out of stores as they make “convenience more convenient”.

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Checkout Shrinkage Management ATS 126

Retail Times

NOVEMBER 27, 2023

With shoplifting currently hitting unprecedented levels, Guy Yair, chief business officer at computer vision technology company, Trigo, looks at how breakthrough technology advances could help retailers to not only tackle the issue of the day, but also provide the means to address the wider aspects of shrinkage The epidemic levels that shoplifting (..)

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Shrinkage ATS 52

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.

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Sporting Goods Payment Services Shrinkage Point of Sale 238

365 Retail

MAY 3, 2022

Protecting at-risk items. During a series of trials at retailers around the world, the Metal Label delivered incredible results – reducing shrinkage across all product types, including canned tuna, baby formula, deodorants, face creams and foil-lined coffee products. Canned paint and varnish, different colours on shelf.

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Shrinkage Customer Experience Management ATS 52

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. billion due to theft in 2023 alone.

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Shrinkage Loss Prevention Location Planning 130

Inside Retail

FEBRUARY 15, 2023

In the US, for example, department store Target recently blamed a US$593 million reduction in its gross profit on organised retail crime, with shrinkage causing its profit margin to fall by around US$400 million. “We Townsley urged retailers to make it as easy as possible for staff members to report customer aggression and product loss.

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Shrinkage Department Stores Supermarket Management 245

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?

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Merchant Services Checkout Shrinkage ATS 348

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

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.

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Shrinkage Loss Prevention Consumer Shopping 52

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. In addition, if the shopper is not ready to buy everything, they can send the data to their mobile phone to easily purchase it at a later date. Technology Snapshot.

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Payment Services Shrinkage Accessories Consumer 310

Inside Retail

NOVEMBER 15, 2022

Saar Davidi, innovation director, automation, at Ranpak says a combination of new technologies and sustainable materials is making it easier for marketplaces and retailers to satisfy consumer expectations – and suggests that those not taking advantage of them are potentially leaving cost savings on the table. It’s paper or nothing.”.

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Drop-Shipping Dead-Stock Shipping Shrinkage 246

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 90

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 We’re getting close, but at this point it isn’t even an apples-to-oranges comparison. trillion in 2026.”.

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Consumer Advertising Shrinkage Planning 304

Wiser

FEBRUARY 29, 2024

As detailed by industry experts at the panel, the impact of staffing shortages extends beyond the bottom line. The consensus among panelists suggests an anticipatory strategy might cushion the effects of potential recessions. For organizations operating at various scales, the advice is clear: remaining lean and nimble is key.

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Shrinkage Inventory Management Loss Prevention Consumer 78

Wiser

JUNE 23, 2020

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. Reduce Shrinkage. Shrinkage occurs when inventory goes missing, or shrinks, due to employee theft, customer theft, vendor fraud, or cashier error.

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Payment Services Shrinkage Location Marketing 78

Retail TouchPoints

MAY 6, 2021

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. Azita Martin is General Manager of AI for Retail and CPG at NVIDIA.

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Fulfillment Shrinkage Department Stores Returns 338

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

Independent Retailer

JULY 29, 2022

The most common area in-store that retailers focus on to improve customer engagement is at the Point of Sale (POS). Implementing RFID technology at the POS enables an automated checkout since brands are able to accurately identify each item in the checkout process, transforming it into a faster, more accurate, and smoother transaction.

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Customer Experience Shrinkage Checkout Inventory Management 77

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.

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Payment Services Checkout Shrinkage Fast Fashion 258

Retail TouchPoints

AUGUST 30, 2021

At its peak, the company achieved more than $4 billion in annual sales. We imagine a shopping experience that is a mix of an app –– which is honestly the new “catalog” –– with an experiential way to look at merchandise in either a physical or VR showroom. After leaving the wholesale business, the couple opened Service Merchandise, Inc.,

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Payment Services Shopping Jewelry Shrinkage 268

Inside Retail

DECEMBER 16, 2021

In the fashion industry, Korea has a reputation for being at the forefront of trends. This is partly in response to the increased level of competition at home. 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.

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Shrinkage Fashion Marketing Consumer 130

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

Wiser

APRIL 23, 2019

Shrinkage – Shrinkage occurs when a product is lost due to employee theft, shoplifting, or another unknown reason. . Receiving errors – Errors can happen as merchandise is received and processed at the back of the store. . Images are crucial because it’s clear evidence of a problem at the shelf-level.

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Shrinkage Inventory Management Location Fulfillment 100

Inside Retail

SEPTEMBER 20, 2023

Like other industries, retail workers are experiencing their own financial pressures at home with many experiencing mortgage stress from the fast succession of interest rate rises. I think it’s important to look at the broader context in the post-pandemic environment.

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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 Incidents of theft are on the rise with Drakes’ 50+ stores across Queensland and South Australia experiencing shoplifting on a weekly basis. “We

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Shrinkage Loss Prevention Supermarket Beauty and Health 147

365 Retail

OCTOBER 12, 2023

Don’t Blame Shrinkage: Why Poor Digital Strategy Might Be Responsible for Retail Uncertainty While retail is a cyclical industry, it’s important to be honest about transformations, negative and positive, in the industry. Imagine an employee at an outdoor store, Tina. Certainly, these elements make an impact.

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Shrinkage Clienteling Outdoor Consumer 113

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?” AiFi, AWM and Trigo’s autonomous shopping platforms, each shown at NRF, provide a seamless store checkout process.

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Shrinkage Checkout Inventory Management Point of Sale 115

Small Biz Trends

JULY 26, 2022

It causes monetary shrinkage to income and manufacturers, along with other businesses for an extended period of time. You can catch up to Stoyan Kenderov at [link] if you need more information after watching this episode. Shawn: Can you discuss ways that you might, at least partially, recession-proof your business.

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Payment Services Shrinkage Accounting Management 111

VMS

DECEMBER 7, 2021

The benefits, note Bissell, are many: “No fitting rooms means dramatically reduced shrinkage. SUBMITTING PRESS RELEASES Send your press releases to VMSD at press@vmsd.com. In the wake of the pandemic, and thanks to innovations like the iMirror, many retailers won’t be bringing back actual fitting rooms. www.NOBAL.ca.

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Shrinkage Visual Merchandising Checkout Returns 86

Frank Mayer

JANUARY 14, 2022

“When the shelter-in-place orders first took effect, delivery services like Instacart and Uber Eats boomed and programs like curbside pickup and BOPIS were essential,” says Cheryl Lesniak, Director of Marketing at Frank Mayer and Associates, Inc. And, at this point, it’s no longer a desire, but an expectation.

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Customer Experience Kiosk Checkout Shrinkage 79

Wiser

JANUARY 12, 2021

In this short guide, we’ll look at what keystone pricing is, when and how you should use it, and how it compares to similar pricing strategies. By doubling the wholesale cost and setting your initial sale price at that level, you can generally get some kind of profit margin, while gathering data on how customers reacted to the initial price.

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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. Retail managers should also consider engaging with union representatives to agree levels of deterrent aimed at protecting against poor decision making. .

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Management Shrinkage Accounting Promotions 52

Retail TouchPoints

NOVEMBER 7, 2023

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. Before joining the company in 2004, she was the Senior Director of Data Sciences at Washington Mutual and a pricing analyst for Circuit City.

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Loss Prevention Shrinkage Returns Payment Services 263