Tag: shrink
Incident Reporting: One Key Element of Shrink Reduction
Stefanie Hoover from ALTO USA explains ways to reduce shrink in retail stores—starting with proper employee training and adequate timing.
Ask the Expert: The State of Loss Prevention
Sensormatic’s Ned McCauley talks about present and future habits of the LP field, and how improvements can be made.
Jockey Implements CONTROLSPAN Professional in US Stores
Paired with Nordic ID hardware, CONTROLSPAN Professional provides Jockey with real-time item-level visibility and asset tracking.
Shrink Prevention on a Budget
If you’re debating a technology change because of underperformance, end of life, cybersecurity concerns, or availability, the first decision you’ll need to make is choosing the right platform.
Ask the Expert: Controlling Grocery Shrink
The 2020 National Retail Security Survey revealed shrink was at an all-time high, accounting for 1.62 percent of a retailer’s bottom line, costing the industry $61.7 billion.
Omnichannel Returns Generate Profits with New Engage Solution from Appriss Retail
Appriss Retail, a provider of retail customer experience solutions, is now offering North American retailers a new tool to drive topline and bottom-line growth while controlling shrink.
10 Common Characteristics of High-Shrink Retail Stores
Shrink isn’t a cause—it’s an effect. It’s an outcome that goes well beyond the concept of bad guys stealing from our stores. Taking action to build awareness and understanding is essential to the success of your business. Here are some common characteristics in high-shrink stores.
Total Retail Loss 2.0: Moving Beyond the Theory
Since its introduction in 2016, the Total Retail Loss concept has received critical acclaim across the globe, stimulated debate about what constitutes retail “loss,” and discussion about what the future role of the LP function might be. New research addressed how it has been implemented, its effectiveness, and what changes to the theory are required.
The Importance of Managing Shrink and Waste
As the old cliché goes, there’s not a finish line, and for me it’s really about constantly trying to build on the success you’ve had and learning from the mistakes you’ve made. Believe me, you will make mistakes, but recognize you won’t make any if you don’t try.
Incident Reporting Best Practices: The Key to Moving Unknown to Known Shrink
How much of our shrinkage number is due to theft? How do you answer this question? Educated guess? Based on indicative feedback? Through deep data analysis? The “go to” tool to understand the answer to these questions, and move shrinkage from unknown into known shrink, is often the incident reporting tool.