Sales increased by 5.9 per cent to $40.5 billion, but the result missed market expectations, with analysts homing in on falling profit margins and the damage from rising retail crime. The retailer revealed that total stock loss, which includes theft and product markdowns, was up by 20 per cent compared to last year due to…
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Food sales at Woolworths’ Australian supermarkets jumped by 5 per cent to $48 billion in the 12 months to June, while sales rose 8 per cent to $4.8 billion at Big W. But the company said trading conditions at the discounter have changed “dramatically” since the December half, with its sales down 6 per cent…
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Supermarkets are turning to high-tech security after a spike in shoplifting cases caused by the rising cost of living, a retail black market and opportunities from self-serve checkouts. Australian Retail Association CEO Paul Zahra said retailers were reporting a sharp increase in both the frequency and severity of retail crime this year, with stores expected…
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Numerous cases of in-store fraud have been reported by the press in recent years. Employees and customers can be involved in a variety of scams. Here are the main ones, and we show you how Artificial Intelligence can help protect your store against them. Frauds and scams identified in stores Most frauds are linked to…
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