IoT has already proven itself extremely beneficial in the retail sector across multiple applications from delivering efficiency in energy consumption to monitoring stock levels in real-time.
According to the ‘Retail Security in Europe, Going beyond Shrinkage’ report, UK retailers lose almost £11bn annually in shrinkage – the highest of any country
At the beginning of lockdown in the UK, many supermarkets were facing panic buying mayhem, with stores experiencing Christmas-level shopping without any of the stock preparation…
In order to understand the factors which impact retail shrinkage, we must first analyse data at a store level, to see how this relates to some socio-demographic, economic and criminal contextual factors…
Retail loss costs UK businesses a staggering £11 billion per year, more than any country in Europe. Even more than the GDP of Monaco, and over 20 times the net worth of the Queen of England.
Retail loss can amount to a significant sum of money if left unchecked, as estimates put shrinkage at around 2% of annual revenue lost. Measuring and scoping retail loss is the first step in reducing this…
Retail shrinkage is described as anything that attributes an unwanted loss of inventory, including breakage, wastage, theft, admin error and vendor fraud.
Shrinkage is a part of every retail company’s reality and the largest impact of shrinkage is profits loss…
With many shops now re-opening their doors and strict social distancing regulations, means customers shopping experience has drastically changed, which in turn has significantly impacted customer behaviour.
Considering the nature of their business, supermarkets need to have large-sized facilities in order to stock their full range of products, alongside industrial refrigeration equipment to host fresh and frozen goods…
Shrinkage in supermarket stores is a major issue for many retailers, in 2019 alone, UK retail shrinkage accounted for almost £5.5 billion worth of goods.
The concept of industrial batteries taking buildings off-grid to reduce pressure on the National Grid is becoming increasingly popular. However, some companies have started taking this one step
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