Rising Shrink with Self-Checkouts
A recent survey by Grabango said that 7% of self-checkout transactions have some element of shrink. Losses at self-checkouts apparently average 3.5% sales and are 16 times worse than at traditional checkouts. This at a time when retailers are rolling out more self-checkout lanes, partly due to residual staffing problems resulting from the Covid pandemic. At the same time, there have been several recent announcements of retailers removing self-checkout lanes due to growing consumer dissatisfaction. A convenience store/mini-supermarket I use occasionally on my way home from my local airport reports 7 brazen thefts a day with shoplifters who threaten any staff member that speaks up.
Martec's Retail & Consumer Goods Industry WIKI contains detailed information on reducing losses throughout retail including vendor fraud, steps the B&M Department can take to help, warehouse and transport losses, store and online losses, returns and payment system fraud. It's a very modest cost and more information is availabe at https://lnkd.in/euh4BDmG. So far, it does not include information on vigilante groups.....
In 2024 Martec will release the same content as a series of 6 to 8 e-learning classes, segmented by target audience.
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Posted by Brian Hume
16th December 2023
