White Paper by Karen VanBrunt
Global retail shrink in 2010 reached $107.284 billion according to the Centre for Retail Research’s annual Global Retail Theft Barometer (GRTB)—down -5.6% over the previous year as retailers put nearly 10% more funds into security and loss prevention. In the U.S., internal error and administrative failure counted for a substantial 16.9% of losses, or $18.1 billion
For grocers, a healthy portion of that $18.1 billion loss can be traced back to operational errors, such as those that occur when produce scale / PLU items are handled at POS. All too often, these items are not calculated accurately into the customer’s order, resulting in substantial shrink.
Below are five key areas that grocers should monitor to stay ahead of produce shrink:
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