Most retailers agree self-checkouts deliver value. In fact, eight in 10 of them agree the investment in self-checkouts is paying off as this technology allows associates to work on higher value tasks and improves the customer experience.
However, about 80% of retail decision-makers and associates agree store shrinkage and theft is a major issue with self-checkouts. The 16th Annual Global Shopper Study by Zebra Technologies, a leading digital solution provider, has shed light on some of these pressing issues. The
study, which surveyed over 4,200 shoppers, store associates, and retail decision-makers globally, revealed that retailers are struggling to manage online returns and reduce shrinkage caused by theft, fraud, and other factors.
According to the National Retail Federation (NRF), retailers lost a staggering $112 billion due to shrink in 2022, a significant increase from nearly $94 billion in 2021.
The study found that 82% of retailers view minimizing fraud and shrink as a significant challenge, while 86% believe that the ability to forecast demand is crucial for their organization. To combat these issues, many retailers plan to deploy loss prevention analytics (49%) and demand planning and forecasting (54%) by 2026.
While omnichannel shopping causes challenges for retailers, most shoppers prefer options. Eight in 10 favor a blend of online and in-store shopping, and 75% choose to shop with online retailers that have a brick-and-mortar location. As omnichannel shopping continues to grow, the volume of returns increases along with it…
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