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.” The study, conducted with the Loss Prevention Research Council, found that the average shrink rate in 2021 was 1.4%, resulting in losses of $94.5

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Shrinkage Loss Prevention Consumer Shopping 52

Wiser

FEBRUARY 29, 2024

The scarcity of labor is exacerbating shrinkage issues, with reduced in-store supervision affecting loss prevention efforts and hampering efficient inventory management practices.

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Shrinkage Inventory Management Loss Prevention Consumer 78

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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Loss Prevention Shrinkage Supermarket Beauty and Health 147

A1 Retail

OCTOBER 12, 2021

As counterintuitive as it is, we all know losses are an accepted norm in retailing. Factored into the bottom line, as sales increase for stores, so will the losses of product inventory. Loss prevention teams call this inevitable outcome “external shrinkage”. But is this a prime example of too much, too soon?

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Shrinkage Loss Prevention Checkout Supermarket 40

Mass Relators

OCTOBER 25, 2023

Many retailers expect to deploy loss prevention analytics (49%) and demand planning and forecasting (54%) by 2026. While omnichannel shopping causes challenges for retailers, most shoppers prefer options. The Zebra study indicates 36% of retailers believe better analytics on shrink could help drive profitability.

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Checkout Payment Services Shrinkage Returns 52

DMS Retail

AUGUST 17, 2021

FOR YOUR CONVENIENCE… This 6 hour workshop is separated into two 3-hour sessions Click the link below for all the details: Retail Loss Prevention & Profit Protection Workshop – ONLINE (Registration covers both sessions and includes recording and full presentation emailed following session whether you attend or not.)

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Loss Prevention Shrinkage Planning Management 59

Cisco Retail

MAY 25, 2022

Most retailers attribute 50-60% of losses to associate actions. Increasingly, Organized Retail Crime (ORC) and Cybercrime rank at the top of the list of Loss Prevention (LP) concerns, along with associate fraud and returns fraud. Shrinkage means the retailer has less physical inventory than their system reflects.

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Loss Prevention Shrinkage Returns Point of Sale 126

Retail TouchPoints

NOVEMBER 7, 2023

According to the 2022 Organized Retail Crime Survey from the National Retail Federation, in partnership with Appriss Retail and the Loss Prevention Research Council, for every $1 billion in revenue that a U.S. Organized retail crime is a growing problem. retailer makes, more than $700,000 is lost due to ORC.

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Inside Retail

JUNE 28, 2022

The software is used to gather evidence on repeat offenders, and is largely used to prevent theft and shrinkage. There’s the argument that the stores are using [facial recognition] for loss prevention, and to improve their ability to identify those that are engaging in criminal behaviour or theft.

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Consumer Payment Services Loss Prevention Shrinkage 130

I Vend

DECEMBER 10, 2023

Loss prevention – in the US alone, retailers lose around $100 million a year to shrinkage, + which is a direct hit on the bottom line. Loyalty information ensures customers are recognised in store as well as online; and ensures that promotions are 100% aligned with shopping preferences.

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Shrinkage Inventory Management Store Layout Checkout 71