Retail Wire

OCTOBER 3, 2023

Demand shrinkage has led both companies to fight for business, resulting in opportunities for customers to reduce shipping costs. After more than four years, U.S. retailers and other delivery customers are gaining the upper hand in negotiations with UPS and FedEx, securing discounts, a reversal from 2021 and the first half of 2022.

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Shrinkage Shipping 113

Retail Wire

MARCH 13, 2023

Retailers have reported a rise in shrinkage at the same time that more people are going to stores to shop. “We definitely had an uptick since last year,” Macy’s CEO Jeff Gennette said on the retailer’s earnings call. “It’s an industrywide trend.”

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Retail Wire

JANUARY 19, 2023

Retailers have pointed to a rise in organized retail crime as a prime driver of shrinkage in the U.S. The average shrink rate as a percentage of retail sales was 1.4 percent in 2021, down from 1.6 percent in 2020, based on National Retail Federation figures.

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Shrinkage 130

Retail TouchPoints

JANUARY 10, 2024

There’s been a lot of talk recently about retailers reporting lower-than-expected earnings due to inventory shrinkage. According to the Corporate Finance Institute , “Inventory shrinkage occurs when the number of products in stock are fewer than those recorded on the inventory list. What does this mean exactly?

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Shrinkage Bar Codes Finance Shipping 310

Retail TouchPoints

JUNE 25, 2020

Using the Detego platform to help track every ‘read event’ relating to an individual item can help retailers prevent shrinkage and improve delivery time transparency for DTC orders.

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Shrinkage Shipping Fashion Management 264

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.

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Loss Prevention Shrinkage Shopping Returns 243

Retail Gazette

FEBRUARY 28, 2024

Simcock said headsets being worn by staff in some Waitrose stores was helping to increase customer metrics, reduce shrinkage and help employees “feel safer”. The Partnership is using AI for forecasting and experimenting with other technologies such as “virtual manuals and digital wallets”.

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Shrinkage Customer Experience Planning Department Stores 110

Retail Dive

SEPTEMBER 16, 2022

In response to shrinkage concerns, retailers expect to spend more on loss prevention and technology, a new NRF survey found.

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Shrinkage Loss Prevention 106

Inside Retail

JANUARY 30, 2024

These technologies are helping retailers achieve efficiencies in operational functions including staff deployment and management, customer service, shrinkage reduction and lifecycle pricing. The software essentially helps brands understand what demand will be.

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Loss Prevention Shrinkage Inventory Management Markdowns 147

Retail Gazette

APRIL 4, 2024

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”. Instead the mutual is linking AI to CCTV cameras to track what items are put into bags at self-checkouts.

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Checkout Shrinkage Management ATS 126

Inside Retail

MARCH 4, 2022

Maximise profits, minimise shrinkage. Shrinkage is a problem that affects up to 95 per cent of all businesses, and it hurts everyone (business owners, employees, customers). Cash-In-Transit (CIT) services. Banking fees. The great news is, all of these costs can be cut, and cut significantly, with cash recycling.

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Shrinkage Payment Services Customer Experience Accounting 162

Retail Times

NOVEMBER 27, 2023

Retail Times - Retail news, reports, analysis & comment

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Shrinkage ATS 52

365 Retail

MAY 3, 2022

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.

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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.

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Shrinkage Loss Prevention Location Planning 130

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 52

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

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.

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Loss Prevention Shrinkage Management Location 98

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

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Shrinkage Department Stores Supermarket Management 245

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. Proactive measures, such as investing in anti-theft strategies and employing field teams to ensure product visibility and availability, can mitigate these risks.

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Shrinkage Inventory Management Loss Prevention Consumer 78

Retail TouchPoints

FEBRUARY 21, 2023

5G can reduce wasted time and prevent inventory shrinkage, providing retailers with cost savings. Delivery and stocking experiences: 5G can support massive IoT connectivity, which can be used to improve product tracking capabilities. A pallet of goods can be tracked from departure at the manufacturing site through transit to the store.

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Sporting Goods Payment Services Shrinkage Point of Sale 264

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.

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Loss Prevention Shrinkage Management Location 90

Retail TouchPoints

OCTOBER 25, 2021

The increased bandwidth from 5G provides 360-degree visibility across the entire supply chain, removing much of the friction from existing processes and reducing losses such as inventory shrinkage. Providing retailers with enhanced data on usage patterns can further streamline operations and reduce wasted inventory.

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Payment Services Shrinkage Accessories Supermarket 317

Wiser

JUNE 23, 2020

Reduce Shrinkage. Shrinkage occurs when inventory goes missing, or shrinks, due to employee theft, customer theft, vendor fraud, or cashier error. Whether it’s inadvertent or intentional, shrinkage can be a major obstacle to growth if left unchecked.

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Payment Services Shrinkage Location Marketing 78

Inside Retail

NOVEMBER 15, 2022

An environmentally-friendly paper protection product can also drive a substantial reduction in returns because there is less damage to goods inside the package and less shrinkage, thanks to the boxes being glued rather than taped shut, making it easier to detect tampering.

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Drop-Shipping Dead-Stock Shipping Shrinkage 246

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. Others with the technical expertise and resourcing are creating custom AI solutions internally.

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Fulfillment Shrinkage Department Stores Returns 344

Retail Focus

AUGUST 8, 2023

Outsourcing security and loss prevention services to professionals can significantly reduce the risk of theft, shoplifting, and inventory shrinkage. Security and Loss Prevention Ensuring the security of your retail store and merchandise is paramount.

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Loss Prevention Inventory Management Inventory Turnover Shrinkage 130

Independent Retailer

JULY 29, 2022

According to the NRF National Retail Study 2018 , inventory shrinkage costs the U.S. RFID technology can provide a technological solution to retailers by supplying knowledge of where the item went missing, allowing them to mitigate the impact of shrinkage by adjusting inventory levels to replace missing or out of stock items.

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Customer Experience Shrinkage Checkout Inventory Management 77

Retail TouchPoints

NOVEMBER 10, 2022

That lens could include category sales share, unit volume/share, percent of ad sales versus total sales, percentage of ecom sales versus total sales, Total Advertising Cost of Sale ( TACoS) and competitor growth/shrinkage, which are all viable KPIs with varying levels of available measurement.

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Consumer Advertising Shrinkage Planning 306

A1 Retail

OCTOBER 12, 2021

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. But it wouldn’t make good business sense to continue to accept this as part of the cost of doing business. The industry limits.

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Shrinkage Loss Prevention Checkout Supermarket 40

Mass Relators

MARCH 7, 2024

This improvement in rate was primarily attributable to strong Our Brands performance, sourcing benefits, lower supply chain costs, and the effect of our terminated agreement with Express Scripts, partially offset by increased price investments and higher shrinkage. Adjusted FIFO operating profit of $4.6 million to $4.8 billion.

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Shrinkage Returns Promotions Customer Experience 52

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. Certainly, these elements make an impact.

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Inside Retail

DECEMBER 16, 2021

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. The brand uses Korean cotton and a special knitting process that maximises the density of cotton and gives the fabric a distinctly luxurious feel. Most ADLV clothing is made in Korea. “We

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Shrinkage Fashion Marketing Consumer 130

Wiser

APRIL 23, 2019

Shrinkage – Shrinkage occurs when a product is lost due to employee theft, shoplifting, or another unknown reason. . Phantom inventory is particularly challenging because your inventory management system says the products are in-stock, but the shelves are empty. You can’t fix what you don’t know is even a problem.

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Shrinkage Inventory Management Location Fulfillment 100

Retail TouchPoints

AUGUST 30, 2021

The catalog showroom approach was based on the idea that it reduced the risk of merchandise theft (known in the industry as shrinkage), while also enabling customers to shop without the inconvenience of carrying purchases throughout the store while you were still browsing.

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Payment Services Shopping Jewelry Shrinkage 279

Inside Retail

SEPTEMBER 20, 2023

With around $9 billion lost each year to retail crime and shrinkage, along with the detrimental effect it is having on frontline retail workers mental health, it’s a priority area to collectively work together towards improving. IR: What would more support for staff to improve mental health outcomes look like in a retail setting?

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Shrinkage Promotions Management Shopping 130

Retail TouchPoints

JUNE 15, 2022

To curb shrinkage, self-pay via an app is used to let shoppers and guests purchase items themselves. Roaming checkout enables employees to take payments from shoppers from anywhere inside the store. They simply scan the item or put it in their cart on their phone, pay and walk out with item in tow.

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Payment Services Checkout Shrinkage Fast Fashion 264

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