Blog

$71 billion in lost retail opportunity

Posted on
RETAIL OPPORTUNITY

Negative shopping experiences are costing Australian retailers $71 billion in lost revenue each year, with out of stock events and long lines the factors most likely to see consumers seek gratification elsewhere. These are the recent findings of a report by global payments provider Adyen, who surveyed consumers and retailers early this year, identifying eight…

Read more

The new retail metric – “return on experience”

Posted on
The new retail metric – “return on experience” ROX

Big brands should be looking beyond traditional metrics like return on investment and measuring the return on experience, according to the latest Global Consumer Insights Survey from Price Waterhouse Coopers (PwC). In their 10th annual survey of over 21,000 consumers globally, they note the age of a digitally savvy consumer means a superior customer service…

Read more

Technology in the fight against self-checkout theft

Posted on
Technology in the fight against self-checkout theft

Artificial Intelligence and increased surveillance are among the new technologies being employed by Australia’s major retailers in a bid to combat self-checkout theft. The move comes amidst reports seven per cent of consumers admit to committing self-service checkout theft in a trend that costs the retail sector billions. Here’s an insight into self-checkout theft in…

Read more

New report finds a surge in shoplifting

Posted on
Shoplifting

An Australian-based shoplifting study has found the crime is surging, with major retailers losing over $3.3 billion last year alone. The research further indicates self-service checkouts and increasingly brazen criminals are driving the rising trend, with the Sydney Morning Herald (SMH) noting retailers have reached “crisis point”. So, what’s changing on the shoplifting front? A…

Read more

When good customers steal

Posted on
When good customers steal - Shoplifting

Not all shoplifters fit the profile of crime gangs, thrill-seeking teens or seasoned thieves. Some can be your best customers who steal as a one-off for a reason they believe is justifiable. So, what prompts a loyal patron to steal and how do retailers stem the loss? Here’s an insight into why good customers steal…

Read more

An unlikely retail hero – How the fitting room is changing customer service and reducing theft

Posted on
Reducing theft

It’s hard to imagine the humble fitting might be a hero in the modern retail story, but in many ways that’s proving the case. Like all areas of the retail sector, the fitting room is benefitting from an influx of modern technology which is working to play to the strengths of bricks and mortar, improve…

Read more

Apple among the retailers revamping to enhance customer experience

Posted on
Retailers revamping to enhance customer experience

Tech giant Apple is among the latest retailers to revamp its stores in a bid to enhance the customer experience, unveiling a new-look outlet at Bondi Junction in Sydney. The re-imagined retail store features a focus on “education and inspiration”, while also boasting environmentally friendly credentials. It follows a trend that sees many big retailers…

Read more

Nine reasons Electronic Article Surveillance is on the rise

Posted on
Nine reasons Electronic Article Surveillance is on the rise

A recent US study has found more and more retailers are turning to electronic article surveillance in a bid to combat shoplifting, with the adoption of merchandise alarms and security tags increasing in the past year. The findings were noted in the US National Retail Federation’s annual security survey and support a further report that…

Read more

Is the retail future checkout free?

Posted on
Is the retail future checkout free?

7-Eleven has become the latest Australian retailer looking to make the retail experience checkout free, with the trial of a new app that allows customers to go “cardless and cashless”. Announced last week, the trial follows in the footsteps of grocery retailer Woolworths and of course Amazon Go in the US. The 7-Eleven trial is…

Read more

Understanding retail loss

Posted on
Understanding Retail Loss

Each year retail loss costs Australian retailers dearly, with the most recent figures from the Australian Retailers Association (ARA) indicating it sets the industry back $7.5 billion annually. This figure shows little signs of abating either, with shoplifting, employee theft, vendor fraud and administrative error among the major causes of retail shrink. Here’s an insight…

Read more