Unified commerce is raising shopper expectations for convenience, availability, assortment and price. Retailers know that to keep pace they need to implement a customer-centric strategy that enables a personalized shopping experience. But by creating this new experience, there are new opportunities for loss.
While retailers are investing in new technology to improve operations, they should also consider leveraging their investments to enhance loss prevention efforts. By combining retail technologies around the store like Acousto Magnetic (AM), Radio Frequency Identification (RFID) and video, retailers can gain insight into loss events to help reduce shrink and gain a better understanding of what, when, and how items go missing to:
- Gain vital visibility into theft events by opportunistic shoplifters or Organized Retail Crime organizations
- Restock or reorder missing items to prevent out-of-stocks
- Identify offenders using information shared across stores, within their own organization or with consulting, retail or law enforcement partners
- Find trends to optimize processes and merchandising on the store floor
- Strategically schedule store associates based on the location in the store and time of day where spikes in theft are highest
Taking an information-based approach to loss prevention multiplies its effectiveness, driving new benefits that would not otherwise be possible. When programs are optimized and systems work in unison across the enterprise, it creates a safe, secure and customer-friendly environment that fosters a strong unified commerce strategy.
Posted on March 3rd, 2017