What Every Retail Brand Ought to Know About Loss Prevention – Part Nineteen Non-Perishable Shrinkage Non–perishable goods such as groceries, health & beauty and general merchandise on average make up about 60% of a store’s sales. Damage, theft and accidents are the most notable cause of non-perishable shrinkage. Non-perishable shrinkage can be classified into known […]Read More
What Every Retail Brand Ought to Know About Loss Prevention-Part Eighteen Retail Employee Theft The retail sector is particularly susceptible to employee theft, primarily as a result of low wage and high staff turnover. Retail employee theft at 36.4% is the second biggest source retail shrinkage amounting to £1.5 billion. Even though retail employee theft […]Read More
What Every Retail Brand Ought to Know About Loss Prevention – Part Seventeen Retail Employee Error The theory of constraint states that there is a single variable that when addressed can significantly improve the performance of any organisation. I would argue that in the retail industry, the single variable that is responsible for the success/failure […]Read More
Employee theft is the second highest reason for retail shrinkage globally expect in the US, Canada and Australia where it is the biggest reason for retail shrinkage. There are various forms of employee theft, which can be easily detected through different signs and indications. Preventing retail employee theft has become challenging for many retail brands […]Read More
If you are a retailer who would like to boost your store sales, increase conversion, reduce shrinkage and increase profit, this is the most important document you will ever read… Executive Summary ‘Threshold Resistance’ is a phrase coined by luxury retail billionaire Alfred Taubman to mean: “The physical and psychological barriers that stand between your […]Read More
What Every Retail Brand Ought to Know About Loss Prevention – Part Sixteen Backdoor Receiving Shrinkage The receiving process is unstructured in many retail organisations, with no written policies and procedures. Consequently, backroom receiving shrinkage accounts for an estimated 10% of retail shrinkage, which in an average supermarket amounts to over £30.000 a year. Vendor […]Read More
These are the best and the worst of times for the retail industry.
The retail environment is changing rapidly beyond recognition.
Online shopping has completely revolutionised consumer buying behaviour, which has in turn changed the concept of retailing.
This is good news and bad news for the retail industry.Read More