Retailers have long faced challenges with inventory accuracy. While developments in technology have improved retailers’ ability to count reliably, the importance of inventory accuracy and its alignment to reduced costs and higher sales volumes is greater now than ever before. Prior to the pandemic, the retail industry was already seeing the emergence of the need […]
Foot traffic is a key component when it comes to successfully running a brick-and-mortar store. More traffic means more sales opportunities, so many businesses want to know how to improve the number of people that flow in and out on a daily basis. Now that the peak of the pandemic and stay-at-home orders have receded, […]
Sustainability has become an increasingly important consideration for businesses in recent years, and the retail industry is no exception. As consumers become more environmentally conscious, they are demanding that retailers take steps to reduce their environmental impact. In response to this demand, many retailers are making significant efforts to adopt sustainable business practices. One of […]
Retail loss prevention is a critical issue for retailers, with the National Retail Federation estimating that U.S. retailers lose approximately $61.7 billion per year due to theft and other forms of shrinkage. To combat this problem, retailers are turning to innovative technologies such as RFID (Radio Frequency Identification) to help prevent loss. RFID technology works […]
Contract Datascan, LP and ALTAVANT announced today that the companies have entered into a strategic partnership bringing comprehensive inventory counting solutions to retailers in the Middle East. The agreement brings together the world’s premier physical inventory self-scan provider and the Middle East’s strategic retail consulting firm specializing in high performance integrated human-IT systems. DATASCAN has […]
Les Néréides deployed OCTO+ while simultaneously implementing an ERP solution and a new website. Les Néréides considered that RFID technology had become sufficiently affordable for building into its omnichannel strategy from the outset. Frequentiel proved to be the right match because of its combined RFID and retail expertise, and because they were able to integrate […]
Most retailers conduct a full physical inventory count in their stores once, possibly twice, a year. This allows them to reconcile their inventory records to gain a true accounting of what they actually have in stock and provide their auditors with the numbers needed to produce the company’s financial reports. The problem with this counting […]
Context There is an old adage, from whom I know not, which says: ‘you cannot arrest your way out of a shrinkage problem’; in other words it is not a good idea to base a retail loss control strategy primarily upon catching and prosecuting all those who cause loss. The argument goes that it would […]
Background If you had to choose one word to describe retailing, it would be ‘change’. While it has long been a fundamental part of most societies, it is not something that can ever be described as static and unchanging. Yes, the fundamentals of retailing have always remained the same – various types of goods being […]
