Milestone News

Foot traffic counting is the simple exercise of counting how many customers are walking in and out of a store at any given time. There are devices that have been designed to perform this task which can record when customers enter and exit a store, and what the foot count in the store is or was throughout the day. These devices are also referred to as head counters, feet counters or people counters.

Retail shrink (otherwise known as shrinkage) is the percentage of your inventory that goes missing, gets damaged, or goes ‘off’. This is a big problem for retailers, as they are spending money on stock and not seeing a return. This loss can be due to shoplifting, employee theft, stock passing expiry date or perishable stock going off, supplier fault or fraud, administrative mistakes, and accidental damage.

Inventory management and stock take are often seen as tedious and frustrating tasks. That may be, but it is also one of the most important aspects of owning a business.Inventory management refers to a recordkeeping system that tracks whether you have the right inventory, at the right time, and in the right place. All industries, from wholesale to retail, make use of some form of inventory management system.

There are multiple methods and devices that can be used to implement stock control and inventory management; however, RFID is by far the superior technology with which to achieve accurate results.

Wine and spirits have always been known as high-risk products when it comes to shoplifting. These items are easy to steal and hide, are of relatively high value, and can be easily resold for a profit. Worldwide studies such as the Global Retail Theft Barometer have stated in the past that liquor theft is the most commonly stolen item in the food and beverage sector. It has even ranked higher than other high-risk products such as baby formula, meat, cheese and coffee.

Where there are retail stores, shoplifters aren’t far. Shoplifters generally fall into two categories; the one being ordinary customers, and the other being professionals who steal for a living. Unfortunately, most shoplifters are professionals and are extremely difficult to detect and catch.That being said, there are a few tips on how to identify a potential shoplifter and prevent them from taking something without paying for it.