Inside Retail

AUGUST 27, 2023

This is the message put forward by Wesfarmers’ CEO Rob Scott, and Kmart Group managing director Ian Bailey, to investors last week. While value for money is undoubtedly a large focus for retailers moving forward, stamping out shrinkage is another.

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Shrinkage Dead-Stock Department Stores Apparel 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 Worse still is that the figures reported to management and associations are likely just the tip of the iceberg.

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Shrinkage Department Stores Supermarket Management 245

Retail TouchPoints

OCTOBER 25, 2021

With the ability to increase the number of devices and people connected to the network, retailers finally have the technology and price point required to move this from a concept to a mainstream solution, including high-volume big box stores and supermarkets. Gareth Smith is General Manager for Eggplant , a Keysight Technologies company.

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Payment Services Shrinkage Accessories Consumer 317

Inside Retail

MAY 19, 2021

Drakes Supermarkets is losing around $10 million each year largely due to theft in stores, according to company director John-Paul Drake. 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 Global problem.

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Shrinkage Loss Prevention Supermarket Beauty and Health 147