Retail Touchpoints’ sixth annual Store Operations Superstar Award winners have recently been announced—and one convenience store retailer is happy to hear the news. This year, 7-Eleven earned the gold medal for its loss prevention strategy.
According to the Superstar Awards report, “convenience store asset protection differs from other retail, especially at a 24/7 operation like 7-Eleven. With a small footprint and easy access, 7-Eleven faces issues like armed robbery, shoplifting and ‘grab and go.’ Operations issues include food safety/freshness, tobacco regulations, and environmental challenges with selling gasoline.”
7-Eleven’s asset protection team has been challenged to maintain a comfortable, safe environment for shoppers while managing these security concerns—and aiming to drive profitability as well. To achieve its goals, the AP team’s strategy focuses on four fundamental pillars: revenue assurance, inventory variation control, incidents and investigations and safety and AP awareness. In addition, a recent 5,000-store rollout of a digital video system from Tyco Retail Solutions has helped boost sales while reducing shrink.
The Store Operations Superstar Award is “some nice recognition for the team,” said Mark Stinde, LPC, VP of asset protection for 7-Eleven.
The Superstar Awards also recognize retailers that rank among the best for store operations strategies in five other categories: digital innovation, customer engagement, workforce management, store format innovation, and internal operations. Check out the other award recipients.