THE BIG PICTURE
Defending the festive joy in retail Drawing level with shrinkage and theft challenges through timely data and targeted strategies Shrinkage and theft pose persistent challenges in the retail industry, with an average annual shrink rate of 5% to 10%. Traditional monitoring methods are often inaccurate and rely on outdated semi-annual reports. Retailers now realize the importance of timely and accurate data for effective loss prevention. Swift action is hindered by the time-consuming task of manually counting every store item. Therefore, a shift from longer periods to shorter turns is crucial for resource allocation and targeted strategies to address this costly issue.
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