There are many unfortunate circumstances that retailers deal with on a daily basis. This can be in the form of an unruly customer, errors made in financial records or inventory processes and a variety of other issues. But perhaps one of the most damaging factors to operations is retail theft. When merchandise is stolen or merchants fall victim to fraud, it can cost businesses vast amounts of money to fix these problems. Organized retail crime has been an issue facing the sector for many years, but thanks to advances in technology, companies are able to fight back and prevent these instances from occurring.

Crime comes in several forms
While the most recognized form of retail theft is when criminals swipe products from brick-and-mortar locations, there are other ways that these individuals are able to steal items. According to data from the National Retail Federation, 78 percent of businesses have fallen victim to gift card and store merchandise fraud. Seventy-two percent have experienced theft due to "eFencing," or when thieves sell stolen merchandise online. Other theft tactics included physical fencing, with 69 percent of merchants seeing stolen items being stored in warehouses by criminals, and cargo theft, with 48 percent of companies losing products and revenues through this method.

In all, the National Retail Federation estimated that businesses lose approximately $30 billion every year due to organized retail crime. This is a significant figure, and if steps are not taken to prevent and combat this theft, merchants could see their bottom lines suffer.

Technology fights back against theft
Fortunately, there are several technology solutions that companies can implement to deter thieves from stealing merchandise. Entrepreneur Magazine reported on these types of systems, one of which includes closed-circuit cameras. Installing these cameras will give retailers a way to track any thieves that attempt to swipe products from their stores. The source also suggested that merchants use alarms at their brick-and-mortar locations for when storefronts are closed but criminals try to break in.

When it comes to preventing theft online, the news source recommended that inventory tracking software be used to maintain control over the processes and procedures related to online product management. This gives companies more insight into what items are being sold and which are unaccounted for. The technology can also alert businesses as to when fraudulent transactions have taken place.

This entry was posted by Retail Pro on Monday, June 17th, 2013 at 6:20 am .

The employment numbers from the past few months have shown strong growth throughout the nation as businesses regained their confidence following the economic recession and picked up their hiring efforts. One sector that has been contributing to this improvement is the retail industry.

According to the U.S. Labor Department, retailers across the country added approximately 28,000 jobs to their payrolls in May. Home Accents Today reported that this figure was part of the 175,000 positions created during last month. Merchants could be bringing on additional workers to help deal with the expected influx of customers that normally arrives with the summer season, as shoppers stock up on merchandise for the warmer months.

May's retail employment figure was slightly less than that of April, when the industry added approximately 29,000 jobs to the nation's economy, the Labor Department reported. The National Retail Federation stated that these gains were exciting for the sector, which saw less-than-stellar employment in March and the beginning months of 2013.

The most recent numbers indicate rising confidence among merchants as they realize they have the means to hire more workers to handle increases in sales in the coming months.

This entry was posted by Retail Pro on Thursday, June 13th, 2013 at 10:05 am .

When it comes to managing both brick-and-mortar locations and online platforms, merchants deal with a variety of daily tasks, such as overseeing revenues, ensuring great customer service and keeping inventory under control. A new element has thrown itself into the mix – mobile technology. As consumers use their smartphones and tablets for shopping purposes, businesses will need to adopt solutions that fit patrons' needs. This is certainly easy to do with the right tools.

Internet Retailer cited several industry experts who gave their opinion on the state of mobile within the retail sector. All of these professionals asserted that smartphones and tablets are here to stay, and if companies want to reach device-carrying customers, they need to make the move now to develop mobile strategies.

"If you don't have your website tuned for mobile devices you are missing major sales opportunities," said Gial Fulgoni, chairman of comScore. "Consumers are not only using these devices to get information whenever and wherever they want, but also but also to buy."

Many retailers have already adopted mobile systems and are seeing great success, Digiday reported. These brands include Target, Walmart and Ikea. However, merchants of all sizes can benefit from mobile technology through increased sales and higher customer retention.

This entry was posted by Retail Pro on Thursday, June 13th, 2013 at 5:24 am .

Retailers are constantly trying to stay on top of industry trends and the latest strategies that can boost their operations. They will have the chance to do just that at tomorrow's Open to Buy webinar hosted by Retail Pro. The online event will take place between 8 a.m. and 9 a.m. PDT, and interested industry professionals can find registration information at  https://www2.gotomeeting.com/register/380156530.

A variety of topics on Open to Buy planning will be covered by the webinar's presenters, Easy Retail President Jacques Azoulay and Vice President Suzana Cindric. Attendees will be able to learn about Open to Buy software works and the many advantages it can bring to retail operations. Some of these benefits include keeping accurate track of inventory, knowing which products are most sought-after and being able to prepare for any changes in consumer demand, EzineMark wrote.

The source explained that by develop an effective Open to Buy plan, merchants can ensure the items they order from suppliers are being sold, reducing financial loss and too much inventory. In addition, companies can see their monthly sales and account for any changes as well as pinpoint areas that may need improvement. All of this and more will be covered at tomorrow's Open to Buy webinar.

This entry was posted by Retail Pro on Wednesday, June 12th, 2013 at 9:28 am .

Nearly everything is digital these days, whether it's work and personal emails, mobile apps that help users get things done or even bank accounts that can be managed easily from a variety of devices. Digital has made its way into the retail industry, as merchants have adopted solutions and systems that allow them to better oversee their operations. Because of this, consumers now expect more digital interactions with brands, and this means that they want personalized and relevant messages when communicating with retailers. This has led to an increased focus on digital within the sector, and if businesses fail to implement tools that can provide what shoppers are looking for, then they could see declines in retention and loyalty.

Facts point to digital importance
Digiday highlights the growing importance of digital solutions for retailers by citing several studies which have found that mobile apps, social media and personalized communications are exactly what can keep customers coming back. The source reports that research by the CMO Council revealed that more than half (54 percent) of consumers would stop doing business with a brand that does not offer them content that is relevant to their needs. Another study by Mobile Marketer found that 57 percent of individuals will do the same if a merchant has a "poorly designed" mobile website.

Social media is also being used by customers to connect with companies, as research from Compendium discovered that among the Top 100 retailers, the average number of Facebook likes comes in at 1.2 million, the source explains. However, these brands are only seeing a 2 percent engagement rate on the social site, highlighting the fact that not enough is being done to interact with shoppers through this medium. In addition, Exact Target revealed that seven hours is the average time it takes for a merchant to respond to a consumer inquiry through social media. This is too long of a time span and could encourage shoppers to buy their products elsewhere, the source points out.

Consumer demand for digital needs to be met
In a separate article, Digiday writes that digital is becoming more of a priority for companies, which will only serve to benefit their operations. Personalization based on past purchases and other details is being used by many brands to boost loyalty, and improvement to mobile sites and apps are being factored into merchants' daily tasks. The source also reports that social media is being utilized for engaging customers rather than for increasing sales, but this is helping to establish trusting relationships between retailers and consumers.

This entry was posted by Retail Pro on Wednesday, June 12th, 2013 at 7:21 am .

As retail sales continue to improve throughout the country, merchants are hoping that increased imports will contribute to further growth during the summer season. More merchandise imports, coupled with jumps in consumer confidence and spending, could result in successful sales over the coming months.

The City Wire reported that the Global Port Tracker produced each month by the National Retail Federation estimates that the import volume for retail merchandise will rise 1.1 percent this month when compared to the same time last year. While there is no certain way to determine whether this jump will absolutely lead to more retail sales, the source noted that these imports do measure merchants' expectations for the upcoming season, and conditions look positive.

Perhaps more imports will help boost businesses' sales throughout the summer. May's retail sales were better-than-expected, the Los Angeles Times reported. Data from Thomson Reuters revealed that sales increased 3.9 percent last month from April, beating the an estimated 3.7 percent rise.

As consumers spend more on merchandise, companies can effectively deal with this influx by using retail management software to oversee their revenues and process transactions from all payment forms.

This entry was posted by Retail Pro on Wednesday, June 12th, 2013 at 4:38 am .

A retailer could offer the most up-to-date and popular products at the best prices, but if that merchant fails to deliver an exceptional customer experience, shoppers are likely to turn to competitors. So why is this? Many may think that because a patron is able to find the item he or she wants, this is enough to keep them coming back to certain companies for future purchases. But that's just not the case, as most consumers are also searching for exceptional experiences when doing business with brands. People want to know that they are valued and appreciated by retailers, and merchants find that these factors are key drivers for retention and loyalty rates.

What is an excellent experience?
To improve their customer bases, businesses often ask "What exactly is an exceptional customer experience?" While the answers on this may vary due to differences between consumers as well as companies, there are certain steps that every merchant can take to build a strong foundation for offering the best possible experience, both in their stores and online.

Unified Communications Strategies recently highlighted several components of what defines a great experience based on findings from its Interactive Intelligence Customer Experience Research Study 2013. When asked about what they believe excellent service entails, most consumers stated that interacting with a knowledgeable and personable staff member was the most important factor. Having their issues solved and questions answered was also another top element for a good experience. Companies can offer both of these aspects in their stores and on their web platforms.

It's all about the 4 C's
Retail Customer Experience expands more on this topic and suggests that merchants focus on four specific methods, known as "the 4 C's," for providing exceptional customer experiences. The source writes that the first C stands for "connections," and brands should give shoppers a way to connect with them at any time, whether through mobile channels, websites and in-store interactions.

The second C is "conversation," and retailers should aim to engage consumers with interesting conversations that are relevant to them and their needs. The third C is "choice," and by offering a variety of sought-after items, businesses can bring in additional sales, writes the news source. And lastly, the fourth C stands for "convenience," which is something that customers are looking for both at brick-and-mortar locations and online. Providing streamlined transactions is one of the best ways to boost satisfaction and offer the best possible experience, the source notes.

This entry was posted by Retail Pro on Monday, June 10th, 2013 at 12:25 pm .

Every retailer knows that a little planning can go a long way, especially when it comes to running brick-and-mortar locations and online platforms. As for managing inventory, effective planning comes in the form of Open to Buy, as merchants are able to have greater insight into their stocking processes and make the necessary adjustments based on changing consumer demand.

Interested industry professionals who want to learn more about Open to Buy can sign up for this week's Retail Pro webinar on the topic. The event will be on Thursday, June 13, from 8 a.m. to 9 a.m. PDT. Registration information can be found at https://www2.gotomeeting.com/register/380156530.

E-Tailer's Digest writes that with Open to Buy planning, businesses can ensure they have enough inventory in stock to see positive return on investments and low markdowns. Customers are always changing their minds, and while it can be difficult to keep up with these new demands, Open to Buy gives merchants the chance to effectively forecast for these alterations by ordering the right products to keep in stock, the source explains.

At Retail Pro's Open to Buy webinar, presenters will cover the advantages, features and various elements of Open to Buy and show attendees how it can significantly improve their operations.

This entry was posted by Retail Pro on Monday, June 10th, 2013 at 11:34 am .

Following several months of stagnant sales, retailers across the United States saw their totals rise in May, which was most likely the result of warmer weather and consumers having a more positive outlook on their financial futures. However, many businesses are still hesitant to see what the coming months bring in terms of sales.

The Los Angeles Times reports that data from Thomson Reuters revealed that retail sales rose 3.9 percent last month from April. This was more than analysts' expectations of a 3.7 percent jump, the news source explains. One of the main reasons for the boost in sales was due to shoppers being more optimistic about the nation's economy and their own finances. An improving employment sector contributed to increases in confidence as well. Additionally, rising temperatures in May following a colder-than-normal winter helped get customers to retail stores to stock up on summer merchandise.

If retails sales continue to jump in the coming months – which will be much welcome news for merchants – companies will need to streamline their operations to meet consumer demand. Retail management software can help make transactions easier and more efficient, and point of sale systems can ensure that businesses are able to accept all forms of payments, further boosting patron satisfaction.

This entry was posted by Retail Pro on Monday, June 10th, 2013 at 11:33 am .

Whether it's an established retailer or a merchant who has decided to launch a business, choosing the right store location is a vital tasks that all businesses face. Scoping out a region, determining how big a storefront should be and picking which products to offer are all aspects that companies have to consider when opening a new location.

Entrepreneur Magazine offers some suggestions for retailers that are choosing to launch a new storefront. Knowing what local laws and regulations they must adhere to is essential for merchants. While some businesses may have brick-and-mortar locations in other regions, rules and legislation differ, so understanding which ones must be followed is vital. The source recommends that taking the time to analyze target audiences and determine a location that caters to these potential customers is important when choosing a new store. In addition, implementing options such as elevators and ramps for wheelchair-bound patrons or parents with baby strollers are elements that need to be thought about, the source writes.

Once a new storefront has been chosen, merchants can measure how well their brick-and-mortar locations are performing with solutions like retail management software. These platforms give businesses the ability to gain further insight into their operations so that necessary changes and improvements can be made.

This entry was posted by Retail Pro on Saturday, June 8th, 2013 at 8:52 am .