Fighting retail shrinkage through intelligent analysis and validation

|

article image
While striving to achieve greater profitability in a landscape characterized by aggressive competition, retailers keep racking up losses due to retail shrinkage. In this white paper we take a look at the various sources of retail shrinkage and discuss the benefits of establishing effective validation for loss prevention systems. The paper also reveals how loss prevention Quality Assurance (QA) solutions can reduce retail shrinkage. We also outline how the right testing approach and techniques can help avoid loss.

Spotlight

The Shade Store

The Shade Store is the evolution and culmination of 70 years experience in the custom window treatment industry. With an emphasis on couture-quality, impeccable style, a fabulous selection, and affordable prices, our products have long resonated with discerning homeowners and design professionals. Our staff of window treatment experts is available and eager to help you discover how The Shade Store exemplifies custom made simple.

OTHER ARTICLES

How is Point of Sale Software Changing in 2020?

Article | June 25, 2020

All great businesses are blooming on the edifice of POS, which stands for Point of Sale System. Every inch of your business consistency, management, and profits is subjected wholly and solely to the retail POS system. As we all are aware of its importance in a business and how effectively it tends to expand business empires and profits. In other words, a retail POS system is like a Midas touch to your business; it enhances it and enhances it for good, adorning it with golden profits. The idea of POS software is simple. It excludes every chance of human errors and inconsistencies, holds back your company's loss, and increases the productivity of your checkout counter. This is all it does, and all of these tasks are simple, but they are reassuring business tactics that ensure promising gains and remarkable retail growth.

Read More

Retail supply chains will be held liable for price gouging

Article | June 25, 2020

Texas Attorney General Ken Paxton today issued a stern warning to retail suppliers, including those who supply grocery stores and pharmacies, that state law strictly prohibits price gouging in the wake of a declared disaster. Price gouging laws apply to any person or entity selling necessities at an exorbitant or excessive price after a disaster has been declared by the Governor or President. This prohibition includes those who supply retailers. Under the Texas Deceptive Trade Practices Act, any price-gougers may be required to reimburse consumers and may be held liable for civil penalties of up to $10,000 per violation with an additional penalty of up to $250,000 if the affected consumers are elderly.

Read More

How physical retail provides opportunities for consumer outreach

Article | June 25, 2020

As we come off another holiday season, it's worth taking a look at how the customer journey has changed, the role retail plays in the journey and what 2020 holds for innovative brands and retailers alike. Only a small minority of consumers these days are brand loyal according to a recent McKinsey report. Most consumers prefer to be in "shopping around" mode instead. Add to that the waning influence of TV advertising. Against this backdrop, it's clear that brand and retail marketers are challenged and need to change up their game. In a world in which TV advertising has lost much of its power, innovative retailers and brands have an opportunity to command consumers' attention through integrated marketing initiatives that include digital experiences and product sampling.

Read More

Why retailers need to embrace renewable energy in 2020

Article | June 25, 2020

We’re constantly being pummelled by bad climate news. Despite the efforts of individual countries and international organizations, a November 2019 report by the United Nations asserted that “countries collectively failed to stop the growth in global GHG emissions.” This has led to increasing average global temperatures and the unquestionable need for deeper and faster emission cuts. But the private sector can’t sit idly by waiting for governments to act – it’s time for retailers to step up and be leaders in the fight against climate change. And for businesses, research is proving that prioritizing sustainability is beneficial for long-term financial success.

Read More

Spotlight

The Shade Store

The Shade Store is the evolution and culmination of 70 years experience in the custom window treatment industry. With an emphasis on couture-quality, impeccable style, a fabulous selection, and affordable prices, our products have long resonated with discerning homeowners and design professionals. Our staff of window treatment experts is available and eager to help you discover how The Shade Store exemplifies custom made simple.

Events