Nedap’s Orange Wavers: Meet Corey Daff

At Nedap, we are proud of the team that serves our customers. Each team member is a product-knowledge expert and enjoys every customer interaction. At Nedap, we are committed to being transparent in our approach to building relationships.

With this in mind, we’d like to introduce you to Corey Daff, Account Executive for Nedap:

How long have you’ve been with Nedap?
Although I’m fairly new with Nedap, I brought with me many years of experience in the technical space, as well as love for exceptional customer service. That’s why Nedap is a great fit for me.

What are your career highlights?
I was an IT Headhunter for 4 years post-college.

I also spent a couple years selling Oracle ERP/SCM/HCM/ back office software prior to moving into the Cyber Security software world.

What makes you successful?
I come from a very blue-collar family in Massachusetts and I feel that my work ethic and attitude towards hard work is what has made me successful.

Describe your passion for customer service.
Customer service most directly shows in my constant desire to be the best I can be. I always enjoy looking for and thinking about ways that things can be improved, especially when it comes to those who are close to me and I think this echoes in my relationships with my customers.

What do you think is the coolest feature of Nedap’s product suite?
Our dynamic beam steering ability is up there, as it allows our RFID-ready retailers to address loss prevention by leveraging the same RFID technology that drastically improves their stock/inventory management.

What’s the biggest challenge facing retail in your opinion?
With the current generation of buyers in the marketplace today, I think the customer experience that brands provide is of critical importance. I think the biggest challenge they are faced with is how to create an experience that allows their customers to seamlessly interact with the brand, whether at a retail store or via devices. The patience of the current generation of consumers (which I certainly fall into myself!) is exceptionally low, and the cost of brand loyalty is increasing, so retailers are going to need to find a way to grant more, for less.

What would your best friend say is your best quality?
To be honest, I guess I should ask them! I would have to guess that they would say either my enthusiasm or my loyalty as a friend.

What’s the last book you’ve read?
The Salt Fix, which is a super-interesting read for a health/fitness nerd like me. Specifically, it speaks to the impact of sodium on health and performance.

What is your favorite place in the world?
Growing up, my favorite place was the cabin my grandfather built in the woods of Maine. However, I would say these days I couldn’t deny that my favorite place to be is on the slopes!

What is your favorite movie?
I think my favorite that I’ve seen lately would be Ex Machina.

What is your favorite music?
Lately there has been a lot of The Black Keys in my life.

If you had a superpower, what would it be?
I’d love to be able to teleport to work, back home, to the fridge to get a snack – that would be ideal.

Come meet Cory and the other Orange Wavers at NRF PROTECT booth 830!

The pizzafication of Fashion Retail

I try to live a healthy lifestyle; I run a lot, I don’t smoke, eat a varied diet and limit my alcohol consumption. But, if there is one thing that is my guilty pleasure it is PIZZA. And the good thing about pizza; if you want it, you will have it delivered to your house within 30 minutes. Luckily, there are more and more ‘pizzaficated’ healthy options for a quick home delivery, but the pizza has been the good old option for a lazy day food delivery.

The rise of those delivery services, or pizzafication, for food has seen a quite steep incline over the last few years. The on-demand society of today expects to have the food they want delivered to their house within a timely manner. And not only ready-to-eat food is ‘pizzaficated’ but also your groceries are delivered to your house with Amazon Prime now.

As a millennial, I love this pizzafication, I expect to have the products I need, delivered to me fast, ideally within the hour but ultimately the same day (I am fully aware that this probably sounds very spoiled).

So, a few weeks ago I was relatively late with buying my sister her birthday present and went online to buy her a nice sporting hoody. Luckily, the retailer offered ‘Buy Online, Pick up in Store’ (also referred to as Click & Collect) so I thought I was saved by the bell and purchased the item and went to the store to pick up the item. I was caught by surprise however when I read in the confirmation email that I could not pick up the hoody right away, but that it was shipped to the store and would arrive in 3 business days, which resulted in a disappointed sister when I arrived empty handed at her birthday party; the pizza was cold when it arrived.

Within fashion retail, the pizzafication has clearly not been fully adopted yet. Many retailers offer BOPOS or Click&Collect, but typically send this to the store from their warehouse and don’t fulfill these orders directly from their store stock. More and more retailers are displaying their stock online, but exclude half of their products, because they have to apply a safety stock to guarantee the item is available. And ship-from-store is a wish that most retailers have but this often results in split shipments and late deliveries to the customer. For some reason, the pizzafication in the fashion retail world hasn’t been as easy as the delivery of a pizza.

For brick&mortar retailers, the pizzafication is the ultimate answer to the online retailers enabling deliveries within the hour, which easily beats “next day delivery”.

One of the biggest challenges that is slowing down the pizzafication in the retail sector is the stock accuracy. In order to be able to fulfill an online order from a store and send it to the customer within the hour, you want to be 100% sure that the item is available. Unfortunately, this is not the reality for most retailers today and they are typically faced with a low stock accuracy of 65-70%. Clearly this is a problem that needs to be solved first to ensure that the right ‘pizza’ is delivered.

Luckily, there is technology to the rescue. RFID has proven its track record over the last years and enables retailers to increase the stock accuracy and to unlock their omnichannel potential. Hopefully next year, the pizzafication within retail is reality when my sister celebrates her next birthday.


Author: Hilbert Dijkstra – Director of Product Management

Interested to learn more? Simply connect with Hilbert on LinkedIn or fill in this contact form.

Holiday Return Strategies: When Santa Gets it Wrong

Author: Tom Bolanos – Account Executive & RFID Expert

Ugly sweaters and smelly perfumes. We’ve all been recipients of unwanted gifts. The good news is that correcting the problem has always been easy. We just show up at the store and either exchange the unwanted items for items more desirable or obtain a refund or store credit. The reason the return process is so easy is because retailers have invested a great deal of resources to set up convenient return/exchange programs for their customers, which helps sales in the long run.  Not many people would want to shop at retailers who make it difficult to return or exchange items. But there’s a serious side effect to the convenient return policies – shrink.

The (Green) Elephant in the Room

It is estimated that 13% of merchandise sold for the Holidays will be returned. If that doesn’t surprise you, perhaps the dollar value – $95 billion – will. That’s a pretty hefty portion of annual returns, which totaled $351 billion in 2017. Loss Prevention professionals need to be concerned about this because the fact is, this rate of returns is roughly 35% higher than it was in 2016. Some retailers who don’t have a plan to properly process and store this merchandise will undoubtedly be hit with unprecedented shrink. Without a solid plan in place, any large influx of merchandise will cause unwanted markdowns, which contribute to shrink.

Sure, retailers do plan for some markdowns, but the cadence of markdowns is extremely important. Retailers may start out offering 20% off specified holiday merchandise, but the markdown percentage increases over time until the merchandise is sold through. Now, imagine an increase of 35% of returned inventory! In order to accommodate this, larger markdown percentages will have to be offered to avoid a total loss caused by a retailer being stuck with the merchandise. Stockrooms are already tight in retail stores, so keeping the merchandise is hardly an option. Many financial budgets have been blown due to a lack of proper planning for holiday returns.

…And Then There Was Fraud

Refund Fraud is a large issue and one that is rarely cited as a leading cause of profit erosion. But recent surveys and experts reveal that Refund Fraud accounts for 3.5% of total returns. According to this new information:

  • Returns as a percent to sales is 8% (a recent NRF survey indicates a median return rate of 10%)
  • 2017 Returns totaled $351 billion
  • With 3.5% of returns being fraudulent, this equates to nearly $12.3 billion in lost revenue.

Ensuring the right tools are in place will help Loss Prevention professionals build a solid plan for efficiently dealing with returns. For example, EAS systems with RFID capability, coupled with the right EAS/RFID tags, is one of the most important things a Loss Prevention professional can do to ensure the success. Although a huge challenge for retailers has always been getting a high level of tagging compliance from employees, some retailers have employed source-tagging. But if determining an effective ROI from an EAS system is the goal, then shoplifting isn’t the only thing to look at. The most successful LP executives know this, and that is why Refund Fraud reduction is one of the main benefits they realize from a modern and efficient EAS system that is coupled with the right EAS/RFID tags. With this solution, employees know instantly if an item being returned was ever previously purchased. This new ability finally allows stores to curb the type of fraud in which suspects grab items off the shelf and immediately take it up for a refund without purchasing it first.

Plan the Work, Work the Plan

As Loss Prevention professionals prepare for the holiday season, it’s important for them to consult other professionals who supply solutions to address their pain points. Nedap has been working with Loss Prevention professionals worldwide to help alleviate the negative financial impact caused by holiday returns. Because the sheer amount of returns that continues to increase, partnering to create an effective plan and to work that plan has never been more important.

Want to learn how you can reduce Refund Fraud using the right EAS/RFID tags?


Sources:

  1. https://appriss.com/retail/wp-content/uploads/sites/4/2017/12/2017_Consumer-Returns-in-the-Retail-Industry-Report.pdf
  2. https://rfid.averydennison.com/en/home/about-us/newsroom/media-coverage-archive-/retailers-explore-options-for-fighting-retail-crime.html
  3. http://www.nedap-retail.com/us/need-roi-eas-system-focus-refund-fraud/
  4. https://www.retaildive.com/news/holiday-returns-are-on-the-horizonwhats-your-strategy/540973/

Introducing Tom Bolanos: Account Executive & RFID Expert

Tom Bolanos, Account Executive, first joined Nedap nearly two years ago, bringing a wealth of knowledge in the RFID space. His extensive experience includes working for an RFID label manufacturer and providing RFID hard tags and labels to various industries before joining the Nedap team. This makes Tom an incredible asset to Nedap’s customers who may be curious about the best practices of tagging.

“What makes me successful is a simple philosophy I have each day I go to work,” said Tom. “My entire mission is to learn. I learn how my customers approach technology, how they typically go about solving their challenges, and how their business operates daily. This puts me in the best position to provide only those solutions that fit within my customers’ operations, and their future roadmap of technology.”

When asked what he likes about working for Nedap, Tom explained, “I absolutely love working for a company who is on the cutting edge of RFID technology. Because of Nedap’s global footprint, the experience levels within the organization allow for a top-of-the-line support team. Because of this, Nedap already has a developed tried and true solution for nearly any challenge our customers face. This is something none of our competitors can offer.”

On a more personal note Tom enjoys playing golf, a sport he took up at age fifteen with his high school team and continued throughout his college career. That means that if you’re looking for someone to beat in golf, Tom is probably not your guy! His best golf score is 66, which he achieved on two separate occasions.

When asked what he feels his best qualities are, Tom simply stated, “I do what I say I’m going to do, when I say it. It may sound simple, but so many people fail to deliver on even the simplest commitments. I take pride in meeting all deadlines I commit to because there’s no better way to show my customers I care.” 

Want to know what RFID can do for you? Click here to ask Tom! 

Nedap will join The Foot Locker Foundation together with members of the athletic industry for its 18th annual “On Our Feet” fundraising gala.

Nedap will join The Foot Locker Foundation together with members of the athletic industry for its 18th annual “On Our Feet” fundraising gala. The event, which will take place on Tuesday, October 23 at New York City’s Pier Sixty at Chelsea Piers, will benefit educational and other youth initiatives supported by the Foot Locker Foundation.

About The Foot Locker Foundation

The Foot Locker Foundation, Inc. has always been firmly committed to giving back to the communities we are a part of and serve. Our mission is to promote a better world for today’s youth by creating, developing and supporting innovative educational programs and encouraging health and well-being through physical activity. Through our contributions, leadership and efforts, we strive to empower young people to achieve their goals and be successful in life.

About Nedap

Since the company’s founding in 1929, Nederlandsche Apparatenfabriek ‘Nedap’ N.V. has been manufacturing smart technical applications for the challenges of today and tomorrow, and selling them all over the world. Headquartered in the Netherlands, Nedap boasts a workforce of approx. 680 employees and operates on a global scale, while the company has been listed on Euronext Amsterdam since 1947.

Nedap helps retailers permanently prevent losses, optimize stock levels and simplify the multi-store retail management.

How RFID enables O2O retailers to truly unlock their omnichannel potential

Warby Parker, Everlane and Bonobos are some of the most prominent examples of O2O retailers; online retailers that open stores in the offline channel. Those O2O retailers are omnichannel at heart; their offline stores extend their online brand and this extra channel allows them to offer the customer experience that they can’t offer online. Therefore, often the focus in those stores is on brand experience.

“As a business owner, your duty is, above all, to bring value to the customer in new ways. Yes, the internet will always beat retail in cost-efficiency, but it will never measure up to the rich, real-life experience of being in a physical store.” Forbes

Online vs. offline discovery – commerce in the physical world
O2O brands often recognize that a lot of the discovery happens online while the actual commerce often still happens in the physical world. Because of their innovative character those O2O brands also have an innovative approach to their retail operations with a strong focus on creating a great store experience to inspire their customers when they are in their stores and use their stores to build a community. In general, the offline locations of those O2O brands can be divided into three categories:

  1. Showroom: stores do not carry stock , but have some sample items that customers can discover – see and touch.
  2. Outlet: stores carry the leftover stock that has not been sold online.
  3. Retail store: stores carry stock and shoppers buy the items there and then and take them home.

For O2O retailers with model 1 and 2, the inventory management is relatively simple and straightforward. In the ‘showroom’ model, customers can order items in the store or online, which are then shipped to the store or delivered to the customers home. In the ‘outlet’ model, retailers basically push their leftover items to the stores, which are then sold at a discounted price. Typically, there is no further integration with the retailer’s online channel.

The retailers with model 3 are opting for the more traditional retail model with instant gratification – customers can buy the items right there and own them now. However, all of a sudden the O2O retailers are faced with traditional retail challenges around, for example, inventory management. They now need to make sure that the items are allocated to the right location and are available when they are needed. In fact, by opening physical stores, they are introducing a new level of chaos in their operations.

When they were operating online only, the retailers were the only ones that were touching their inventory until it was delivered to the customer straight from the warehouse. When introducing physical stores, there are now more people interacting with their items in the store. Store employees are handling the product for retail processes but also customers interact with the products which introduces even more inaccuracies.

Deal breaker for omnichannel
The chaos that comes from the offline operation is a potential deal breaker for the omnichannel ambitions of those O2O brands. Their stores need to be an extension to the online experience and are a critical touch point for those new brands. Customers that come in to try on the items they liked on Instagram will be disappointed if the item is not available in the store. The loyal customer that travels to the store to pick up their outfit for the party they will attend later that day will be a lost loyal customer if the item is not available in reality.

On the flipside, those relatively young retailers have a huge potential and an even bigger opportunity coming from their offline ambitions. The more traditional retailers have been putting systems in place over the past decades to ‘fight’ the chaos. Having no legacy systems in place creates an opportunity to choose for modern technologies and easily integrate them into their processes and systems.

One of those modern technologies that significantly reduces the chaos is RFID. RFID allows retailers to increase stock accuracy, lower safety stocks, increase product availability and enable omnichannel through perfect inventory visibility. Knowing what you have and where it is lets customers shop anywhere and return everywhere. Inventory visibility enables retailers to:

  • Prevent out-of-stocks
  • Offer omnichannel services (e.g. ship-from-store or click&collect)
  • Offer flexible return options

In an omnichannel dream there is no place for the chaos that originates in the retail store operation. RFID helps to bring order back into the chaotic world of retail by giving full inventory visibility. O2O retailers have the opportunity to start from scratch and make their omnichannel dreams happen, as long as they choose the right technology foundation for their dreams.


Author: Hilbert Dijkstra – Director of Product Management

Interested to learn more? Simply connect with Hilbert on LinkedIn or fill in this contact form.

Winning Over The CFO: 6 Most Common CFO Objections

Seasoned Loss Prevention executives know that when attempting to acquire funding for a new LP initiative or solution, they must be prepared to answer some tough questions and possible objections from their CFO, as well as other senior executives.  A common best practice to prepare for these objections is to consult others within the company who have had experience going through this same capital request or budgetary process.  Often times coworkers can share the objections or tough questions that were previously asked of them.  LP professionals can use that knowledge and anticipate other similar scenarios, then practice viable responses.

What if an LP professional does not have someone to consult? 

Here is an opportunity to review some common questions and objections LP executives may encounter when asking for budget allocations or capital for a new or upgraded LP initiative. For illustration purposes, we’ll use the installation of Nedap’s EAS system with RFID capability as the LP initiative being proposed.

 CFO Question: What are the operating costs?

 LP Executive Answer: “Rather than continuing down the path of standard EAS, Nedap’s system is much more intelligent.  It will allow us to use the EAS system as more than just a deterrent to theft, as it provides Retail Analytics.  However, any slight increase in costs when compared to our current LP solution will be more than covered by the increase in sales we will realize due to having product on the shelf as a result of the reduction of theft, as well as the added benefits of RFID technology.  Therefore, this LP solution is well-suited to ensure we reach our break-even point within the first 10 months of the fiscal year.”

CFO Objection: We have other priorities right now. Maybe next year!

 LP Executive Answer: “We understand that one of the biggest challenges of any senior executive is how to justify spending capital on an LP solution, especially when shrink has improved over prior years.  However, it is important to note this LP solution doesn’t only reduce shrink.  It also reduces labor, provides crucial insight into what is being stolen so we can ensure proper replenishment immediately, and provides a wealth of other analytics that can be used by operations, marketing, and Loss Prevention.  Since all of these areas are priorities for us, it is imperative to integrate this LP solution.  By reducing theft, we will decrease turnover, increase average transaction size, and increase same store sales over last year.  With this improved in-stock position, customer satisfaction will undoubtedly improve.”

 Ever heard these common objections?

  • I don’t want to burden the store employees. The have enough to do!
  • This LP solution will NOT improve sales.
  • That sounds like a huge operation! We don’t have the capacity for that right now!
  • This LP solution requires additional hardware and capital expenditures.

For the answers to the above objections and more ways to win over your CFO, click here to download, “Winning Over the CFO – A Practical Guide for Loss Prevention Executives” by Nedap Retail.

From Competition to Imitation

Technological advancements are the cornerstone of the Information Age. Because of this, many great technological inventions build off one another. For example, the internet had to be invented before Google could have been created to help make it a more productive tool. In addition, microchips had to be perfected in order for smartphones to be invented. These two instances exemplify how human ingenuity should work. People from many walks of life work with the inventions of others to create original, useful products.

With this same principle in mind, Solutions Providers who manufacture their own products not only build upon their own inventions, but also build upon existing technologies. Consider Electronic Article Surveillance (EAS) technology. Although Nedap did not invent EAS technology, we successfully made it the best it can be by making our EAS systems RFID-capable, and by inventing Dynamic Beam Steering Technology. Consider Nedap’s !D Top, our signature ceiling-mounted RFID reader that takes up no selling space in the store, offers reliable detection and prevents false alarms with state-of-the-art tag filtering and direction detection. The !D Top, is equipped with a sophisticated antenna array that dynamically creates a multitude of independent beams in different directions. With this Dynamic Beam Steering functionality, the smart integrated reader determines whether a tagged product is really moving or if it is stationary.

Consider these advantages for Loss Prevention:

When using Dynamic Beam Steering within the EAS solution, the following issues are reduced:

  • People walking too close to the EAS system, which previously has caused false alarms.
  • Items that were only read due to reflections (e.g. people with metallic shopping carts or suitcases) causing false alarms.
  • Merchandise stored outside of the store being brought into the store caused false alarms. Nedap’s

Dynamic Beam Steering technology distinguishes between outgoing and incoming labels, thereby

reducing false alarms.

Nedap’s use of RFID and our invention of Dynamic Beam Steering technology are perhaps the most important new advancements for an antiquated EAS technology. This has never been clearer when one considers how Nedap’s competitors have imitated this technology. But as with most imitations, they are fraught with service issues and other technological missteps.

Today, retailers need to be customer-centric. Installing security systems like EAS and having to contend with false alarms is a recipe for disaster. EAS systems, with or without RFID technology, negatively impact the customer experience and in today’s retail environment, customer experience is the golden goose. Charles Caleb Colton once said, “Imitation is the sincerest form of flattery” and some may subscribe to that. But there is another interesting quote about imitation that seems more fitting in the world of technology:

In everything truth surpasses the imitation and copy.” – Marcus Tullius Cicero

Want to learn more?

Download our whitepaper “Dynamic Beam Steering” and learn more about the benefits of using Dynamic Beam Steering for Loss Prevention.

Saving the Sale: LP’s Newest Hat

Everyone in the retail profession knows that the face of Loss Prevention/Asset Protection (LP/AP) has changed several times over the last several decades, with good reason. Although it may seem untrue at times, the retail industry changes quite frequently. When gasoline prices increase, retail sales soften. When the housing market is booming, retail sales also improve. And those are just the first layer of levers that affect retail sales. Deeper KPI’s, such as the unemployment rate, can have a long-lasting impact on sales, both good and bad depending on the actual rate. Yet, regardless of how consumers react to whichever lever is pulled, how each retailer will fare is determined mostly by one very important factor: inventory levels.

Time for Another Change

Going from the title of Loss Prevention to Asset Protection never became a mandate. In fact, the departmental name change was such a slow burn in the industry that it actually fizzled out before fully catching on. Today, both terms are used interchangeably for the most part. However, some say a new change in titles is looming on the horizon, and an increasing number of indicators tends to support the claim. Imagine LP/AP executives having new titles designed to describe the one area in which they can make the most impact on the health of an organization. What might that title look like? Some say a new title that is inclusive of Inventory Management. After all, poor inventory issues, such as out-of-stocks, are costing retailers $984 billion in lost sales worldwide, $144.9 billion of which is from North America alone. That’s 984,000,000,000!

With inventory levels emerging as the top priority for retailers’ survival, someone has to take the proverbial bull by the horns and start making some positive waves. Who better than the LP/AP department? Truth be told, there is no department in retail more equipped to address this problem than LP/AP professionals. The LP/AP department is the only team with its hands deeply embedded in every other department. From Merchandising, Operations and Logistics, to Procurement, Human Resources and Financial Accounting, no other department can make a more positive impact in the shortest possible timeframe.

The Current State of Retail

In recent webinar hosted by the IHL Group, a leading global research and advisory firm specializing in technologies for the retail and hospitality industries, it was revealed that consumers experience an out-of-stock situation as often as 1 in 3 shopping trips. According to the IHL Group, the consumers define an “out-of-stock” as any time they come into a store with intent to buy and leave for any reason other than the price is too high. This could mean that a store may have the desired item somewhere in the store, such as the rear stockroom or in the wrong location, but the shelf that was supposed to display the item was empty. Either way, poor inventory management is the culprit.

The world of online shopping has magnified the inventory management problem for retailers. Prior to online shopping, consumers had no choice but to wait for an item to be restocked by the retailer or simply visit another of the retailer’s locations. Today, consumers are just a few clicks away from finding the exact same item and having it delivered to their doorstep within 24 hours – much faster than it would take the retailer to reorder and restock the same item. In fact, IHL Group states that 24% of Amazon shoppers first sought their desired item in a retail store.

The Future of Retail

If a retailer was able to boast a 3.4% increase in same-store-sales, it would be a triumphant close to a magnificent year. Yet 3.4% in same-store-sales is exactly what retailers are losing due to poor inventory management practices that lead to out-of-stocks.

Retail executives are well aware of this problem. They have been implementing new processes, technologies and systems for several years trying to address the issue. Although some have seen improvements, most are still unhappy with their in-stock positions. To date, many experts point to only one technology as the savior against brick-and-mortar decline – RFID.

When utilized properly, RFID technology allows retailers, at store level, to know exactly what inventory they have in the store and its precise location. When integrated properly with other store systems, it can be used to ensure stock replenishment occurs before an out-of-stock situation damages a customer/retailer relationship. RFID also reduces “sweethearting” by dishonest employees, and virtually eliminated Refund Fraud by those attempting to obtain refunds for merchandise never purchased.

The face of the LP/AP professional is changing, and how it changes is really up to these professionals themselves. Those who elect to maintain the status quo within their currently defined duties will find themselves struggling to compete within the next few years. However, those who have the courage to walk into the CEO’s office and ask to get involved in solving the inventory management epidemic will undoubtedly flourish in this crazy new World of Retail.

Crawl Before You Walk – Walk Before You Run

The beauty of today’s RFID technology offerings is that retailers do not have to take a full plunge right away. It is not necessary to implement an entire RFID infrastructure in order to adopt the technology. Many retailers choose to begin with RFID-capable EAS systems. These systems act as traditional EAS, yet they have the capability of reading RFID tags when the retailer is ready to implement that particular phase of their RFID endeavor.

LP/AP executives have an obligation to offer up solutions to their respective organization’s profitability woes. This obligation doe not begin and end with theft prevention, fraud prevention and paperwork/pricing errors. Those days are long gone. Today’s LP/AP executives must become knee-deep in all aspects of profit erosion, such as out-of-stocks. Inventory Management is at the core of what LP/AP teams do. Ensuring inventory and pricing accuracy, coupled with protecting inventory from theft and fraud make up the ingredients required for the most successful retail Loss Prevention and Asset Protection careers.

Change in the retail industry has us all in check. It’s your move.

“In times of drastic change it is the learners who inherit the future. The learned usually find themselves equipped to live in a world that no longer exists.” Eric Hoffer

Want to learn more?

Download our eBook “20 Loss Prevention Must Haves” and find out what EAS features will allow you to cut your losses by an additional 20% and build a competitive advantage at the same time.

The Evolution of “Saving the Sale” and What It Means Today | Part 3 of 3

So far in this three-part series on how to “Save the Sale”, I have covered:

In this third and final part to this “Save the Sale” series, the discussion will slightly shift toward the challenges retailers experience when attempting to digitize their business model to increase sales by enhancing their customers’ experiences.

Seek First to Understand (the Challenges)

In a recent article entitled, The Digitalized Retail Store – a Conversion Driver or a Giant Headache?, author Tom Vieweger highlights the challenges retailers face when digitizing their operations, as well as the steps retailers must take to successfully accomplish this relevant transition. Vieweger states retailers must first lay a foundation, meaning whatever “digital touch points” a retailer utilizes (i.e., displays, in-store kiosks or smart mirrors), they can only drive conversion if the promoted products are actually available.

 

To accomplish the next step laid out by Vieweger, retailers must “play, measure, learn & adjust,” meaning they need to learn how customers react to offering new services so they can begin innovating with customers, as opposed to for customers. The third and final step Vieweger lays out for retailers looking to successfully digitize is to stay flexible by removing internal barriers while creating new, agile approaches that can be adjusted as technology changes.

The bottom line? Accurate, real-time stock information is essential for any organization launching into this new world of retail. Launching new digital initiatives that inspire customers to purchase more items, only to be disappointed when the item is not in stock, will only serve to damage a retailer’s brand and alienate customers. RFID and EPCIS standards are the keys to success in this arena, as RFID enables a high stock accuracy while EPCIS is a standardized protocol to exchange information on RFID events.

Secure Self/Mobile Checkout: Lessons from US & UK Retailers

At the Retail Industry Leaders Association’s (RILA) Asset Protection Conference that will be held April 29 – May 2, 2018 in Orlando, Fl., retailers and academia team up to present an education session entitled, Teaming Up to Secure Self/Mobile Checkout: Lessons from US & UK Retailers. In light of the fact that self-reporting by retailers, video, and other evidence indicates current mobile checkout and self-checkout business models may be creating significant losses and inventory distortions, Read Hayes of the University of Florida & the Loss Prevention Research Council (LPRC), and Adrian Beck of the Department of Criminology, University of Leicester, teamed up with retailers to produce this engaging, value-packed session that will address the technologies needed to effectively play in the new retail landscape.

Attendees will hear from these respected academics who will share their latest research findings on the nature and extent of the risk posed by self-scan systems, together with retailers who are utilizing this technology in their businesses. If you have not already registered to attend this conference, you may do so by clicking here. This is a session you will not want to miss!

 

The Meeting You Need at the Time You Need it
Nedap will be displaying their latest RFID technology, including RFID-based EAS, at this year’s RILA Conference April 29 – May 2, 2018 in Orlando, Fl This is the perfect opportunity for you to stop by Booth 626 to experience firsthand how RFID provides the technological foundation needed to successfully launch a self-checkout or mobile pay platform while still protecting your merchandise.

If you would prefer to schedule a meeting with us at the RILA Conference, you may do so by clicking here.

Copyright © 2017 Nedap - Technology that matters - All rights reserved | Disclaimer