According to recent research, 68% of all retail shrink is preventable – this includes shoplifting, pilferage, merchandise theft, fraud, excessive discounting, paperwork mistakes, and more According to the same study only 21% of retail fraud is identified by the company after it has occurred – the resulting gap must be made-up through more effective retail […]
A recent article from Business Insider caught my eye. It was discussing how IHOP has bucked the trend of declining sales in the casual dining sector and how one of the ways it so was be reducing the size of and simplifying its menu. Just like many restaurants, many retailers try to boost their sales […]
Many retailers make a commitment each year to trim costs and cut the fat out of their business. Having an efficient enterprise is important because it frees-up capital that you can put to work in on growing the business, but it is important to think about what happens when your cuts begin to impact the […]
According to the 2010 National Retail Security Survey, US retailers lose over $37 Billion dollars a year to inventory shrink. That accounts for approximately 2% of sales revenue, and for many retailers, that lost profit, and the implications it has for cash flow, is the difference between making a profit or going out of business. […]
Every year retailers lose millions of dollars to employee theft, shoplifting and other sources. The good news is that through increasing awareness and taking simple actions much of this loss can be prevented. Through a partnership agreement with the Loss Prevention Academy, Retail Training Services is proud to announce that it is offering a […]