Articles by tag: retail theft
Target it set to close nine stores in cities including New York, Seattle, and San Francisco by October 21, amid concerns over theft and safety. In response to the growing concern of organized retail theft, Texas has established the Organized Retail Theft Task Force, with Texas Comptroller Glenn Hegar appointing ten members from various sectors, […]
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Can Businesses Prevent Retail Theft Without Hurting Their Customer Experience? Here’s What’s Working.
Last year, retail theft caused businesses to lose a staggering $112.1 billion. Released by the National Retail Federation, these findings indicate a 19.4% increase compared to the previous year. From brands like H&M announcing enhanced anti-shoplifting measures to Target closing nine stores, retail theft is having serious repercussions on retailers and shoppers. Is there […]
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Retailers Can Mitigate Inventory Shrink Through Theft Detection AI and Better Store Design
The retail landscape is seeing a lot of changes and those changes have brought both opportunities and challenges. One of those challenges is the rise in inventory shrink, which is being blamed for the sudden retail exodus. Between thefts and shifting consumer behaviors, inventory accuracy is now emerging as a growing concern for […]
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Why is Theft Leading to a Growing Retail Exodus? Some Experts Say Weak Penalization Is Part of the Problem.
Several major cities, particularly San Francisco, are seeing a retail exodus as many businesses are reporting a rise in theft and reevaluating their presence in these areas. These departures suggest a troubling environment that can still attract tourists, but the rise in crime is having a negative effect on the general business landscape. […]
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Retail Theft is Pushing Stores to Weigh the Risk of Keeping a Physical Presence
In today’s retail landscape, the role of brick-and-mortar stores has been under scrutiny, especially with the rise of online shopping and retail theft. The iconic San Francisco Centre Nordstrom store, a downtown staple for over three decades, has permanently shut its doors, reflecting the city’s changing dynamics and rising crime rates. Retail theft has even […]
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More Community Action is Needed to Help Prevent the Growing Amount of Organized Crime Targeting Retailers
This growing phenomenon of retailers pulling out of cities plagued by organized crime offers more than just a lesson in economics; it’s a call to collective action. With the recent departures of major retailers, like Nordstrom, in cities like San Francisco, a major shift is happening in retail. If stores are not leaving, they’re going […]
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Retail Roundtable: How Serious is the Retail Shrink Crisis?
In recent years, the narrative surrounding retail shrink—a significant issue for brick-and-mortar stores—has taken a dramatic turn. Fueling headlines are reports of escalating organized retail crime (ORC), with stores like Walmart shuttering locations in Portland, Oregon, and Target predicting a $500 million impact on profitability due to inventory shrink. Contrarily, some recent surveys show […]
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AI in Workforce Development: Businesses Must Harness the Power of Technology to Ensure Career Development Among Employees
The job market is undergoing a transformative period, heavily influenced by rapid technological advancements and the integration of artificial intelligence (AI). As industries face a critical skills gap, the traditional path from education to employment is being reevaluated. The role of AI in workforce development is gaining traction, with businesses increasingly adopting machine learning […]
Is the Traditional College Degree Obsolete? Digital Credentials are Emerging as Key to Bridging the Skills Gap
As job markets undergo a significant transformation, traditional higher education-to-employment pathways are increasingly under scrutiny. Digital badging and credentials have emerged as pivotal elements in recognizing and validating skills outside conventional degrees. Amidst a technological revolution that emphasizes skills over degrees, this alternative credentialing could reshape hiring practices and career development. As industries worldwide […]
Utility Industry is Prioritizing Bandwidth Optimization as Part of Network Integration Efforts
With the utility industry gradually changing, a significant focus has been placed on modernizing the energy grid to accommodate more sophisticated data capture and sharing capabilities. This shift is driven by the need to optimize bandwidth and improve the efficiency and reliability of power delivery, especially in light of increasing demands such as electric […]
Advanced Metering and Data Management Tech: The Key to Meeting Clean Energy Goals in the Utility Industry
As nations and communities aggressively pursue clean energy targets, utilities find themselves at a pivotal crossroads of innovation and responsibility. These ambitious objectives are far more than aspirational—they herald a transformation in the operation of energy systems, incorporating inherently intermittent renewable sources such as solar and wind. This evolution prompts essential questions about whether […]