Am I sure that he is attempting to steal this merchandise? “Yes, I am sure.” Read More
Tag: reduce shrink
By Meg Costa
In the United States and around the globe, shrink continues to be a challenge for retailers, especially as competition grows, profit margins constrict, and the availability of quality employees becomes increasingly limited. Retail companies in the US have been hit especially hard by shrink in the last five years, but Read More
The ability to assess patterns in data, measure loss prevention programs, and make decisions in real time is fundamental in solving complex issues related to customers, sales, and loss. Read More
Today, analytics is one of the most vital tools to statistically identify the key factors which highly correlate with loss due to shrink. Collecting data from various sources gives retailers a more holistic perspective of their store activity. Read More
“Why do the iPads in the display area of the store continue to get stolen?” LP pros can conduct experiments to find out. Read More
Nearly 23 percent of surveyed retailers report overall inventory shrink increasing to 2 percent or more of sales, while 65 percent of retailers expect LP budgets to remain flat or even to decrease, according to findings from the National Retail Federation’s 2017 National Retail Security Survey. This comes at a Read More
Policies and operations may be the foundation of a loss prevention strategy, but it takes significant cultural change, input from all levels of employees, and a collective effort on behalf of all departments to ultimately have a positive effect on reducing shrinkage. No single employee or department can combat this Read More
Emerging point-of-sale systems technology, including self-checkout, was on full display at the annual National Retail Federation (NRF) conference in January. Among the companies showcasing advances was NCR Corporation, which was also celebrating 20 years since the installation of its first self-checkout solution.
At the show, NCR introduced its new vision-based scanners—replacing Read More
Tyco Retail Solutions recently announced it has surpassed 63 billion consumer products source tagged to date. Reportedly setting a retail industry milestone with Sensormatic merchandise source tagging, the program has also achieved seven years of consecutive growth since 2011.
The company’s program encompasses source application of electronic article surveillance (EAS) Read More