MINIMISE SHRINKAGE, MAXIMISE CONTROL
All retailers struggle with inventory losses and with seeing their revenues dwindle due to shrinkage. The average shrinkage in the retail industry is about 2% of sales (National Retail Federation). That added up to $123 billion for retailers worldwide in 2015.
Shrinkage due to theft – internal or external – is one of the most urgent issues for the retail industry to solve. Shrinkage due to employee theft and shoplifting make up 77% of the total shrinkage globally.
The most stolen products are small premium price products: razors, tobacco, non-prescription drugs, condoms, pregnancy tests, batteries, mobile accessories, and makeup – products that are easy to conceal and re-sell.
Closely connected to the shrinkage issue, is inventory control. Monitoring inventory, counting and restocking ties up a lot of resources and takes away from more productive activities.
HOW IT WORKS
With a Vensafe solution, shrinkage can be eliminated at the same time as inventory control becomes more efficient. A Vensafe solution stores the premium price products in a dispenser placed at the exit of the store. Customers get product cards or tickets from touch screens around the store, move on to the checkout, pay for the products and then collect them from the dispenser.
UPSELLING POTENTIAL WITH SELF-CHECKOUTS
The Vensafe solution can now be integrated with self-checkouts. That brings new opportunities for promotions and upselling. Vensafe is the only solution on the market that can display promotional products on the self-checkout screen. It is also the only solution that enables tobacco sales in the self-checkout. Customers simply press the button for the promotional item or the tobacco, pay for it and pick it up at the dispenser.