Search

This article explores how grocery retailers around the world are addressing the issue of shrink (loss of inventory due to theft and other factors) through the use of technology and collaboration. Examples include Lidl GB implementing body-worn cameras for employees, Loblaws in Canada requiring customers to scan their receipts before exiting the store, Woolworths NZ partnering with a loss prevention company to reduce crime, and Japanese retailers enhancing employee training and sharing information to combat theft. These initiatives aim to create a safe and streamlined shopping experience for customers while minimizing losses for retailers. [Extracted from the article]

The article presents a summary of managing stock shrinkage in the retail sector in South Africa. It is the responsibility of loss control officers to identify the risks facing the business taking all possible factors into account and making the most cost-effective decision based on the information gathered. The article also explains how an understanding of the phenomenon of hot products and hot spots in the supply chain can lead to the creation of more effective prevention or reduction strategies.

The article discusses several issues that need to be considered by garden centers when importing pots. Sales agent Adam Ash recommends importing pottery directly from exporters to eliminate the middleman and to increase profits. Retailers must find a reputable company accustomed to importing pots. They must also know the laws regarding importing, what the prices include and issues such as freight and breakage.

The article focuses on the security issue in the conveniece store. In 2015, industry shrinkage across all retail averaged 1.38 percent of sales. This was up by 1.2 billion dollars from 2014. Of those retailers surveyed, 47 percent reported increases in overall inventory shrink, with shoplifting accounting for the greatest amount.

The article presents a study which determines the effect of the challenging business environment on retailer's shrink and its impact on their Loss Prevention (LP) priorities in the U.S. in 2008. The study, conducted by technology research company Retail Systems Research (RSR), identified the top three sources of shrink. Significant findings include the consistent remain of the sources of shrink and reduction of shrink depends on the leveraging existing investments in loss prevention technology.

The article focuses on the results of the 2010 annual U.S. Bakery Operations Review of the periodical "Progressive Grocer." Results show that 55% of retailers participating in the study noted an increase in in-store bakery sales. It adds that gross margins surged to 48% while shrink estimates dropped to 7.6%. It also mentions that cakes emerged as the leader in the most-profitable-product category.

The article discusses the importance of retail security to the private security industry and how shrinkage impacts the success of retailers.

(Bloomberg) -- Try as They Might, Trendy Retailers Won't Kill Cash "But by and large, cash is king, and retailers prefer cash". [Extracted from the article]

The article focuses on the 2012 Canadian Retail Survey by the Retail Council of Canada and PricewaterhouseCoopers, a professional services network. Topics include the result of the survey which found that over $10 million is loss by Canadian retailers a day to shrinkage, the statement of Ravinder Sangha of Halo Metrics Inc. on the concern of retailers about theft, and the comment of Mike Reynolds of electronics company Panasonic Canada Inc. on shoplifting.

The article discusses the findings of the second annual Global Retail Theft Barometer 2008 Survey. The survey included 920 large retailers from 36 countries. It was prepared by the Centre for Retail Research and was financed by Checkpoint Systems Inc. Survey respondents rated India with the highest shrinkage rate of 3.10 percent in 2008. Other countries rated with high shrinkage include Thailand, South Africa and Malaysia. The survey also revealed the total costs associated with retail crime and waste loss in the Asia-Pacific region, which reached $15,405 million.

Presents questions about gift retail which appeared on `E-Tailer's Digest.' How to handle customers who accidentally damaged items in a store; Use of cooperative advertising in the Internet; Difference between psychographics and demographics.

The article discusss the Global Retail Theft Barometer which revealed that numerous retail companies in the U.S. have been plagued by shrink as of December 2015 that includes shoplifting, administrative errors, and employee or supplier fraud. The top cause of retail shrink in the U.S. is reportedly theft, followed by shoplifting, noting that theft is attributed to various factors including weak employee screening. Also tackled are the factors of interal and external theft.

The article presents information on the profit protection team of Compass Group, which was formed in May 2007 with the aim of protecting the business from the impact of shrinkage. Any loss in the retail industry that has an effect on the bottom line of a company is referred as shrinkage. Shrinkage reduction is achieved by Compass Group due to such initiatives as Shrink School and Test Purchasing.

The article discusses U.S. food retailers, focusing on waste that the industry creates due to excess food that is not purchased, but instead thrown away. Such waste is termed shrink, the article states, and statistics are given which estimate annual shrink in the U.S. food industry. Topics include supermarket profit margins, European food retailer shrink rates, and the reasons behind the high shrink rates in the U.S. Also discussed are efforts to reduce the shrink rates.

The article discusses a report, conducted by the Centre for Retail Research, on shrinkage in the international retail industry. Shrinkage is defined as loss due to shoplifting, fraud, and administrative errors. Estimated losses due to shrinkage are presented, a comparison of European versus American figures, and corporate attitudes and approaches toward shrinkage are compared. High value items that are stolen most often are detailed, and the shrinkage rates amongst countries are compared.

Focuses on the effectiveness of reducing shrinkage in boosting the sales of fresh food categories in the U.S. retail sector. Approach taken by Price Chopper in scheduling labor effectively and improve the product's freshness; Reasons of Roche Brothers for discontinuing two of its stockkepping units in the ore-made salad category; Problems being encountered by retailers in managing perishable products category.

The article reports that Great Britain has the worst record for shoplifting in Europe and has the worst overall rating of retail shrinkage. Continental Europeans are not much better. Shrinkage is increasing alarmingly in some countries and is generally on the rise. Shrinkage costs the European economy a surprisingly large amount. No directly equivalent American survey exists, but a recent poll among 30 of that country's top retailers found they lost an estimated $5 billion to shoplifting and employee theft in 2001, suggesting the problem there is on a similar scale.

The article discusses how to prevent business losses of retail stores by addressing the causes of shrinkage. It mentions that much in retail stores is lost through several factors such as internal theft, shipping damage and delivery errors. It reveals that the retail industry in Canada suffers from loss of approximately $5.3 million to shrinkage yearly. It notes that retailers need to understand loss and its business impact whether shrinkage results from malicious or non-malicious causes.

The article presents a graph on inventory shrinkage affecting retailers and statistics on organized retail crime (ORC) in cities and states including Los Angeles, California; Chicago, Illinois; and New York.

The article mentions a U.S. study conducted by the Centre for Retail Research for Checkpoint Systems which suggests retail shrinkage including losses from theft will reach $8.9 billion during the period from mid-November 2012 through Christmas. The article notes that is a four percent increase over the previous year's shrinkage. The comments of the research center's director Joshua Bamfield are mentioned.

The article reports on the findings of the study "24th Annual Retail Theft Survey" from Jack L. Hayes International Inc. that showed that shoplifters and dishonest employees were accounted for the six billion U.S. dollars loss from 24 major retailers in 2011. It reveals that 1,076,508 shoplifters were apprehended, over 161 million dollars was recovered from those apprehended, and 37.4 million dollars from those who were not apprehended. It also notes the reasons contributing to employee theft.

The article focuses on the report of the Global Retail Theft Barometer 2009 (GRTB 2009) on retail shrinkage and crime. It states that the total shrink in 41 countries and regions including the U.S., China, and Europe cost retailers 114.8 billion dollars with an average of 1.43% global retail sales. It also mentions that shrink rates vary on different retail business in which apparel or clothing and fashion has 1.84%, automotive parts with 1.83%, and cosmetics 1.77%.

Reports on a survey on the decline of retail shrinkage rates, presented at the National Retail Federation's Loss Prevention and Risk Management & Control conference in Orlando, Florida in June 2004. Factor attributed to the shrinkage woes; Amount lost from the U.S. economy annually due to retail shrinkage; Actions being taken by retailers to address the problem; Shrinkage rates for retailers that have lower manager and employee turnover.

The article presents results of a survey conducted by Centre of Retail Research to European retailers concerning retail shrinkage. The survey revealed that Great Britain top for the highest amount of retail shrinkage. The shrinkage is mainly attributed to theft by customers and the employees were second in line. Shrinkage is expected to cost European retailers 19.2 billion euros. The Great Britain is followed by countries like Norway, Greece, France, The Netherlands, Finland, Spain, Portugal, Italy, Sweden and others.