DCR » Supermarkets

Top 4 Sources of Retail Inventory Shrinkage

bgillum — Wed, 14 Dec 2011 23:38:14 +0000

Dec. 14 2011 – DCR

The loss of merchandise in a retail store through theft or damage is referred to as shrinkage or sometimes just shrink. The average shrink percentage in the retail industry in 2010 was about 1.5% of sales costing U.S. retailers over $35.28 billion in losses according to the National Retail Security Survey on retail theft.

Below we will show you the top 4 sources of inventory shrink and how you can protect yourself from the #1 source.

1. Employee Theft

In 2010 employee theft topped the list at a whopping %45 of total inventory shrinkage. In fact, employee theft was the top source of inventory shrinkage in all previous annual NRSS studies dating back to 1991. This translates into a hefty price tag of $15.9 billion paid by US retailers.

Unfortunately, 10 out of 21 types of retailers reported employee theft rates well above %45. The good news is, this type of theft can be lessened through surveillance and awareness.

Find out how to protect yourself from employee theft.

2. Shoplifting

The second largest source of inventory shrinkage is shoplifting at %31 costing US retailers $10.94 billion last year. This type of substantial profit loss to retailers ends up in raising product prices to off set these losses. In todays highly competitive retail pricing arena, an increase in prices can potentially damage your spot in the market.

Shoplifting can be prevented by surveillance systems, awareness programs and increased customer service.

3. Administrative Error

The third largest source of inventory shrinkage is administrative and paperwork errors at %14. Mistakes such as, but not limited to, markup and markdown errors cost US retailers about $4.94 billion.

Administrative errors can be greatly reduced by proper training and quality POS and back office software.

4. Vendor Fraud

The fourth largest source of inventory shrinkage in 2010 was vendor fraud at 4% costing retailers $1.41 billion. Vendor fraud is when vendors steal store or competitor’s merchancise while they stock their companies products. The good news is, this form of loss was among the smallest categories of inventory shrink.

Your business might be losing thousands of dollars per year! The good news is it can be prevented.

bgillum — Sat, 03 Dec 2011 04:13:52 +0000

A study by the National Retail Federation showed losses of up to $37.1 billion dollars directly to the retailer as a result of inventory shrinkage. In fact, 43.7 percent ($16.2 billion) of total losses was due to employee theft! Internal theft even accounted for more losses than shoplifting (32.6 percent of total losses). This data shows how important it is to protect your business from internal theft.

The Surveillance Starter Pack is just what you need to help protect your investment.

This low-cost, easy to use system comes with everything you need to get started. The pack includes an all-in-one DVR, 2 IP dome cameras, POE switch, text overlay and full LOC SMS integration combined with DCR’s extraoridinary support and training.
	All-in-one DVR – This slim, fanless DVR takes up a very small amount of space yet provides hours of high quality video.
	2 IP Dome Cameras – Get crisp and clear video with 2 mega pixel resolution dome cameras.
	Text Overlay – Text overlay shows you exactly what is happening in the transaction in real-time. See voids, refunds, no sales, UPCs, prices, totals and more!
	Integrates with LOC SMS – This starter pack integrates fully with LOC SMS software and pulls transaction data directly from the electronic journal. You can even search and view video directly from your EJ!
	Monitor your Cashiers – Reduce sweethearting and internal theft by knowing exactly what is happening at the lane and within the transaction.
	Save Big – Potentially save thousands by reducing internal theft and errors

To find out more information on how our Surveillance Starter Pack can benefit you and your business..

Grocers and retailers should expect more traffic this holiday season

bgillum — Thu, 27 Oct 2011 22:59:40 +0000

“According to the National Retail Federation’s 2011 Holiday Consumer Intentions and Actions Survey, conducted by BIGresearch, holiday shoppers say they plan to shell out an average of $704.18 on holiday gifts and seasonal merchandise, down slightly from last year’s $718.98. The NRF is still forecasting overall holiday retail sales to grow 2.8 percent during the months of November and December to $465.6 billion.

With lists in hand and a set budget in mind, people this year plan to shop around with a variety of retailers for holiday gifts and merchandise. Department stores, with unique private-label offerings, will see an increase in traffic over last year (56.9 percent vs. 54.5 percent last year), as will clothing or accessory stores (35.2 percent vs. 33.6 percent), drug stores (21.1 vs. 18.9), and grocery stores and supermarkets (48.8 vs. 46.7), and most will head to discount stores (66.1 vs. 65.1). Crafts and fabric stores will benefit from those looking to make personal and thoughtful gifts (17.5 vs. 16.1 percent).

When asked which one factor will be most important when shopping this holiday season, sales or price discounts largely win out (41.6 percent), but customer service (6.0 percent vs. 5.3 percent last year) and quality of merchandise (14.6 vs. 12.7) are continuing to become more vital components in consumers’ decision making processes, highlighting the growing importance of value when it comes to gift and everyday shopping.”

Check out the whole article at Progressive Grocer!

Image: digitalart / FreeDigitalPhotos.net

NGA calls for action to oppose legislation to repeal swipe fee reforms

bgillum — Wed, 19 Oct 2011 22:22:34 +0000

Representatives Jason Chaffetz (R-Utah) and Bill Owens (D-N.Y.) are introducing legislation in the U.S. House to repeal the Durbin Amendment, the debit-card interchange fee regulation in the Dodd-Frank Wall Street Reform & Consumer Protection Act. In comes H.R. 3156.H.R. 3156 is the latest attempt to repeal swipe fee reforms which recently went into effect on October 1, 2011 to the benefit of Main Street merchants and consumers. The swipe free reform places a cap on per-transaction swipe fees that banks charge retailers when purchases are made via debit cards. The old fee was approximately 44 cents per transaction. The amendment limits this to about 21 cents per transaction.

The legislation would cost consumers more than $6 billion a year in savings that merchants plan to pass along to their customers, the National Retail Federation (NRF) said. “This misguided legislation would take billions of dollars in savings away from American consumers,” added Duncan, chairman of the Merchants Payments Coalition (MPC) and senior vice president and general counsel of the NRF.

“The banks tried to stop this law from being passed, they tried to delay it once it was passed, and they managed to water down the amount merchants and consumers will save. Now that it’s just barely taken effect, they are trying to repeal it before anyone can benefit. Congress needs to stop doing the bidding of the banks and think about the people who paid for the bank bailout not so long ago–consumers and Main Street merchants.”

N.G.A. President and CEO Peter Larkin wrote Members of Congress recently urging opposition to this misguided legislation and urges those concerned to contact their Representatives.

Sources:
CSP Daily News, Bill Would Repeal Swipe-Fee Reform, Oct. 13 2011
http://www.cspnet.com/news/services/articles/bill-would-repeal-swipe-fee-reform

National Grocers Association

www.nationalgrocers.org/

CIC expresses disappointment at TLC’s Extreme Couponing

bgillum — Thu, 29 Sep 2011 15:11:42 +0000

The CIC expressed its disappointment with TLC’s reality show Extreme Couponing stating that it creates unrealistic expectations of coupon strategies and use.“The show appears to portray coupons being used in violation of the terms and conditions printed on the coupons, such as using coupons to obtain products other than those specified by the coupon offer, and focuses on consumers who have procured large quantities of coupon inserts from unknown sources, which may raise civil and/or criminal issues,” says the CIC.

Using large amounts of coupons in this manner may violate the terms stated on the coupon and could result in the coupons being denied at the register. In some cases, investigations by law enforcement may take place.

Misuse of coupons can possibly cost retailers thousands.

Read the full article here!

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DCR and Loc software would like to thank you for visiting us at Expo East 2011 in Baltimore, MD

bgillum — Mon, 26 Sep 2011 15:12:43 +0000

DCR and Loc software would like to thank you for stopping by our booth at Expo East 2011.We look forward to the opportunity to speak with you in more detail to discuss how we can create a personalized point of sale and back office solution to fit your business needs. Our personalized solutions offer industry leading hardware paired with easy to use, yet powerful, software combined with DCR’s superior service, support and training.

DCR is proud to offer on-site and cloud based service and support options to make sure your system is performing at the level you expect.Additionally, we strive to ensure you and your staff know how to use your new system to its full potential. We offer access to on-site and web based training services, as well as access to our online video tutorial library.

Want to make an impact? Save money and the environment using our new E-receipts.

DCR’s E-receipts help reduce paper waste by sending your customer’s receipts digitally via email. This also provides you with the opportunity to connect with your customers and community by creating a database to send promotions, community news, and loyalty rewards to the people who matter most, your customers.

We look forward to speaking with you so we can create a personalized solution for you and your business.

Please visit us at www.dcrpos.com or contact us directly by dialing 1-888-429-4493 to speak with us today!

Expo East 2011 is in full swing! Stop by booth 406 to see how you can save some green!

bgillum — Fri, 23 Sep 2011 13:20:46 +0000

Today is the second day of Expo East 2011 Natural Food show! If your in the area, swing by and stop at booth 406! We are featuring the next evolution in POS solutions designed specifically for health and natural food retailers. Also check out new ways that you can go green and save some green at the same time!

Introducing DCR’s Paperless Receipt App for SMS!

bgillum — Mon, 19 Sep 2011 20:08:14 +0000


Save money and the environment with paperless receipts for your LOC Store Management Suite software! With our paperless receipt app, you can send your customer’s receipts straight to their email to reduce the cost and waste of using paper!
		Save money by cutting down on paper usage and costs.
		Help the environment by reducing the amount of paper waste by switching to digital receipts.
		Connect with your customers online using the email addresses they give you for their receipts. Use this information to create a database for marketing and promotions!
		Pairs perfectly with DCR’s Quick SMS for Natural Foods bundle! Click here for more info! Contact us

Expo East is just one week away! Come see the next evolution in health food POS!

bgillum — Wed, 14 Sep 2011 23:27:06 +0000

Expo East is quickly approaching. DCR would like to invite you to visit us at our booth on Sept. 21 – 24, 2011 at the Baltimore Convention Center - Baltimore, MD.

We will featuring a lot of exciting new bundles and products. This includes our new Quick SMS bundle that integrates with the Living Naturally ordering system. Our bundle’s hardware includes the NCR RealPOS 25 all-in-one, NCR 7878 Bi-optic scanner/scale, NCR printer, Verifone POSPad. The bundle’s software features the power and speed of LOC Store Management Suite.

In addition to our new bundle, we will be featuring our new cloud based remote support suite, rTools. This suite features a variety of components including virtual technicians, antivirus, system monitoring and management. This allows you to worry less about your system’s health and more about what matters most, your customers.

While your there, ask about our remote training capabilities. From one on one online sessions with a qualified DCR trainers to our online video library, you know you and your staff will know how to use your new system to its full potential.

Grow your business and maximize profits with the next evolution in POS system technology!

Expo East 2011 Natural Products – Baltimore, MD | Stop by to see DCR’s new health and natural food pos solution!

bgillum — Tue, 23 Aug 2011 17:56:48 +0000

DCR will be presenting our new health and natural food point of sale solution bundle at Expo East 2011 at the Baltimore Convention Center in Baltimore, MD. DCR has teamed up with LOC software to create the perfect solution for health food retailers.

Our standard bundle will include the power and speed of LOC Store Management Suite, NCR Real 25 all-in-one terminal, NCR scanner scale, printer and POSpad.

Pair this bundle with our new rTools remote support package to get the peace of mind that your POS system will be in tip top shape when you need it most!