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Inventory Loss

All articles tagged with #inventory loss

businesstechnology2 years ago

"The Future of Self-Checkout: Retailers' Response to Shopper Concerns"

Major retailers are re-evaluating self-checkout systems due to inventory loss, with some implementing AI technology to monitor customers and products. While self-checkout represents 30% of transactions, complaints about glitches and impersonal experiences have arisen. Target is testing a 10-item limit to reduce wait times, while Dollar General plans to increase employee presence. Many consumers appreciate the convenience of self-checkout for a few items but value personal interaction with cashiers.

via Good Morning America|
#businesstechnology#customer-experience#inventory-loss
retail-technology2 years ago

"Retailers Rethink Self-Checkout Amid Customer Demand for Human Cashiers"

Major retailers are re-evaluating self-checkout systems due to inventory loss, with some implementing AI technology to monitor customers and products. While self-checkout represents 30% of transactions, complaints about glitches and impersonal experiences persist. Target is testing a 10-item limit to reduce wait times, while Dollar General plans to increase employee presence at store fronts. Despite the convenience, many customers still value personal interaction with cashiers.

via ABC News|
#customer-experience#inventory-loss#retail-technology
business2 years ago

Retail Group Retracts Claim on High Percentage of Inventory Loss from Organized Retail Crime

The National Retail Federation (NRF) has revised a report that previously claimed organized retail crime accounted for nearly half of overall industry shrink. The revision comes after Retail Dive found mistakes in the data, leading to the NRF removing estimates of organized retail crime's impact and any reference to the Coalition of Law Enforcement and Retail (CLEAR). The NRF acknowledges the challenges in gathering accurate data on theft incidents and recognizes that organized retail crime remains a serious problem for retailers of all sizes. However, the extent and changing nature of the shoplifting problem still require further data analysis.

via The Associated Press|
#business#data-analysis#inventory-loss
crime2 years ago

"Unprecedented Retail Theft Crisis: 10 US Cities Hit the Hardest"

A new report by the National Retail Federation (NRF) reveals that retail theft, particularly organized retail crime, has been on the rise in the US, resulting in significant inventory losses for retailers. The cities most impacted by retail theft in 2022 were Los Angeles, Oakland/San Francisco, Houston, New York City, and Seattle. The NRF emphasizes that retail crime affects businesses of all sizes and locations across the country and advocates for comprehensive research and collaborative solutions to combat theft. Congress has also passed the INFORM ACT to address the sale of counterfeit goods and dangerous products online.

via The Hill|
#crime#inventory-loss#national-retail-federation
natural-disasters2 years ago

"Devastating Hailstorm Causes $27M in Damages to Round Rock Car Dealerships"

A hailstorm in Round Rock, Texas, caused an estimated $27 million in damages to car dealerships, with over 750 vehicles being severely damaged and anticipated to be total losses. The most impacted dealerships include Round Rock Honda, Round Rock Hyundai, Genesis of Round Rock, and Round Rock Toyota. This hailstorm adds to the history of costly hailstorms in the Austin area.

via KXAN.com|
#car-dealerships#damages#hailstorm