Friday December 2nd 2022
To celebrate England’s victory, we gave away a prime stand at ReTec Europe
And if England beat Senegal, we will be doing it again on Monday. So, watch your inbox..!
To celebrate England’s advancement to the knock-out stage of the world cup, the organisers of ReTec offered a fee stand worth £5,250.00 to the first person to email the sales office on the day following the victory.
The lucky winner was James Smith at Autostore System. Watch out for their brilliant warehouse robot technology at ReTec Europe at the NEC, 7 & 8 November ’23.
So many people got in touch following our email, that we have decided to do the same again after the Senegal match, if England win.
So, keep an eye on your inbox on Monday morning. First to reply, gets the prize.
To visit the ReTec Europe website, click HERE…
Coles launches sub-60 click-and-collect service in 400 stores
Coles Online has launched a Rapid Click & Collect service promising customers they collect their orders from participating stores in less than 60 minutes…
The launch follows a pilot program early this year which saw demand for the click-and-collect service double. Now it has been extended to 400 Coles stores across the country with another 200 to follow early next year.
Customers can order from an extended range of over 20,000 products – including some which were not usually offered for home delivery like the hot roast chickens – as well as shop from a range of local and international beer, wine and spirits from selected stores.
Coles CEO Steven Cain said customers are increasingly “looking for more convenience” when shopping and are seeking omnichannel solutions.
“Our research shows the number one consideration for online shoppers is convenience and for click-and-collect customers, it’s the immediate collection.”
Coinciding with the launch, the retailer has opened a new generation of supermarket design in the Melbourne suburb of Cheltenham, which features the company’s largest Click&Collect area yet, featuring digital screens customers can use to navigate to an available Click&Collect bay.
The retailer says store technology will help team members track customer arrivals and departures better, resulting in reduced waiting times.
In February last year, Coles launched a 90 minute click and collect service at 400 of their stores.
Coles will be attending Retail Risk – Sydney. Click HERE to register.
A new world of possibilities…
While loss prevention remains a concern for high street retailers, so too does making sure that the customer experience is a positive one. Richard Joslin, senior director, global sales at 3xLOGIC, explains how security technology and video management systems (VMS) can be used to unearth the business intelligence that enables a better understanding of customer behaviour…
The high street retail sector is in serious decline – footfall is down and sales are falling. According to CoStar Group, between 2016 and 2021 83 per cent of UK department stores closed down, as 476 stores became just 79. Out of town retail parks and shopping centres have not been immune to these seismic shifts either, with the Financial Times reporting that spending in Britain’s largest shopping centres remains 25 per cent down on pre-pandemic levels.
This is forcing a rethink about how the high street operates. As the transformation process continues, it is expected that it will primarily serve as a location for our leisure and entertainment needs, adapting to include gyms, bars and restaurants, and hosting cultural and sporting events to attract footfall.
These efforts are part of a wider strategy to entice shoppers into stores that are built around a more engaging and immersive retail and leisure experience – something the pandemic has accelerated. For retailers, this places increasing emphasis on impactful visual merchandising, a seamless online and physical offering, efficient point of sale systems and high levels of customer service.
Adapt or die
Yet despite the obvious need to innovate, too many retailers are ‘fiddling while Rome burns’. Instead, they need to more effectively evaluate their marketing and promotional efforts, and gauge the value of the location and amenities their locations provide. Measuring customer reactions to a store is key to creating offerings that fit shoppers’ needs and wants. The question is how?
By integrating and evaluating the massive silos of data that physical security systems already provide, retailers can better understand how and why shoppers shop and when, how and what they buy. A VMS can provide real time data, alerts and allows live and recorded video and associated data regarding footfall, shopper movement and behaviour, queue analysis and management, traffic flow performance benchmarks, as well as product attraction and conversion information, to be viewed in efficient and user friendly ways.
Form and function
Security solutions that provide actionable business intelligence are readily available. VMS and analytics tools can be used in ways that improve the bottom line, keep employees safe and make the customer experience a positive one. By extracting and presenting data, VMS technology allows retailers to sort and analyse this information to gain powerful customer insights.
Every element of a store’s design and layout can be analysed, scrutinised and reconfigured to offer customers the best possible experience and increase sales by creating tailored electronic advertisements and relevant points of sale. For loss prevention purposes, the same technology can identify known vehicles or offenders and ascertain which products are being targeted. It can also provide covert shopfloor security personnel with direct alerts about any suspicious behaviour, such as someone occupying a particular area longer than is considered usual.
The sky’s the limit
Although the security industry was perhaps slow to recognise the advantages of the cloud, mainly due to concerns about data protection, that has now changed. Cloud based video analytics facilitates the aggregation, analysis and presentation of data acquired from video surveillance systems through an internet browser. It allows retailers to scale up or down their estates by adding, removing and monitoring cameras, while allowing intuitive analysis of data.
Collaboration with team members and other colleagues is also made easier, with users able to share critical information and insight. Users can view live and playback video from cloud cameras, bookmark cameras for quick and easy access from the main dashboard, check camera health status, export footage clips and collect and package related video events together in case files that can be easily retrieved at a later date – anytime, anyplace, anywhere.
Of course, such systems must be compliant with the General Data Protection Regulation (GDPR). However, understanding customers doesn’t rely on ‘intrusive’ tech but can be achieved with technology that is often already in-situ. Cloud based solutions also offer significant financial savings by enabling more cost effective scaling, alongside a vast reduction in hardware maintenance and management costs, while regular upgrades and updates to software and compatible hardware ensure the user has the latest, most powerful features.
Business intelligence is changing how retailers operate by offering unrivalled levels of visibility and identifying issues that can have a detrimental impact on a company’s bottom line. With leading security system manufacturers developing increasingly innovative solutions, retailers can now gather business intelligence that evolves with their needs and keeps them one step ahead of the competition.
This information can be highly effective in improving sales. For example, one leading US electronic retailer’s flagship store in Minneapolis was not selling a top brand’s electronic products as well as its other stores were. By using VMS analytics they undertook traffic analysis and found that the store’s layout was to blame. The products were located to the left of the premises and once they were moved to the right the store saw a rise in sales.
A VMS can also be used to identify where loss prevention originates and prevent it. Electronic point of sale (EPOS) transactions and surveillance cameras can be integrated to provide information that can be used for investigating a potential theft, spot retraining needs or to improve levels of business. Furthermore, a cloud based VMS brings all sources of data together so users can search for evidence across multiple EPOS systems and security cameras simultaneously.
Mintel’s The Changing Face of the High Street Market Report 2022 found that 65 per cent of UK shoppers agree that shopping online is more convenient than in-store. Therefore, retailers need to adopt new ways of engaging with customers and react positively to the dynamics that are determining the way they shop. Those that are yet to use the business intelligence at their disposal from their security technology must open their eyes to the reality of the situation and avoid being another retail casualty.
For further information please visit https://www.3xlogic.com
Arj Barker to host The Australian Fraud Awards 2023 – sponsored by Sensormatic…
We are thrilled to announce that international comedy superstar, Arj Barker, will be hosting and performing at the Australian Fraud Awards – sponsored by Sensormatic – as well as making an appearance at our pre-dinner VIP Lounge – sponsored by MA Services – to meet their lucky VIP guests…
For more info click HERE…
International superstars of music and comedy follow Retail Risk – London ‘23
Join us to celebrate in real style at the 21st Retail Risk – Gala Dinner 2023
Following Retail Risk – London ‘23 will be the 21st Retail Risk – Gala Dinner.
Guests will arrive for a black tie, champagne reception before taking their seats for dinner.
Following more champagne, wines and four courses of great food the hilarious TV comedian, Andy Parsons, will take to the stage.
Andy is the multi-award winning comedian who started his career writing for Weekending and Smith and Jones, and went on to become one of the main writers on the ground-breaking Spitting Image satirical puppet show, and a regular on Mock The Week for years.
Following Andy’s set will be the Rick Parfitt Junior Band. Fronted by the son of Status Quo legend, Rick Parfitt, RPJ Band have appeared around the word to massive acclaim, leading them to be dubbed “Without doubt the best event band the world has ever seen” by the entertainment press.
Finally, our guest DJ will play music for dancing late into the night. There will also be a late bar.
If you have not yet booked a table then please check the GALA DINNER TABLE AVAILABILITY, select one of the tables shown as still available and click the RESERVE button to book.
If you are a retailer wishing to be hosted by one of our table sponsors, please email [email protected]
The Retail Risk – Podcast, sponsored by Axis Communications
Paul Bessant talks to…
Hannah Wadey, Chief Executive at Safer Business Network
Retail is breaching ICO reporting guidelines
National Computer Security Day on 30th November is built around raising awareness of cyber security issues and online security, but ICO data shows the retail and manufacturing sector has far to go…
Hayes Connor, leading UK data breach solicitors, has discovered that the retail and manufacturing sector is the third worst offender for data breaches across the UK. After analysing the ICO’s ongoing data security report, the industries most affected by data breaches were revealed.
The sectors with the highest percentage of data breaches since 2019 were:
Education & Childcare, 14%
Retail & Manufacture, 9%
Local Government, 9%
Finance, Insurance & Credit, 9%
General Business, 7%
Charitable & Voluntary, 5%
Central Government, 4%
Land or Property Services, 4%
Making up 1 in 10 cases, the retail and manufacturing sector came third, alongside finance, insurance, and credit, and local government. They were beaten by the health sector, which made up 1 in 5 cases since 2019, and the education and childcare sector, at 1 in 7.
It’s also taking retail and manufacturing workers over 72 hours to report 38% of their data breaches, which is against ICO regulations and is leaving the sector vulnerable to large fines.
Christine Sabino, Legal Director at Hayes Connor, said:
“What’s concerning is the public puts a lot of trust in industries such as the health, government, and education sectors, with the expectation that their data is going to be handled securely. With so many of these data breaches being caused by human error, it’s very clear that these industries are in dire need of data handling training, at the very least.”
Retail spending increases in Australia, but consumers wary as rising costs bite
The rising cost of doing business, supply chain disruption and staff shortages are top concerns for retailers…
Retail spending increased 12.5% in October as consumers spent $35Bn both in-store and online according to new data from the Australian Bureau of Statistics.
While year-on-year sales growth was strong, retail turnover fell by a marginal 0.2% compared to September, marking the first month-on-month fall this year.
Clothing, footwear and personal accessories sales were up 32.8% while cafes, restaurants and takeaway food services increased by 35.3%.
Department store sales grew 23% followed by other retailing at 9.3% and household goods, and food retailing at 5.9% and 5.2% respectively.
Australian Retailers Association CEO, Paul Zahra, described some “softening of sales” as inevitable as consumers encounter cost-of-living challenges.
“It is important to acknowledge that price increases are a factor in these numbers and are also driving Australians to spend to get in ahead of inflation.
We haven’t yet seen the forecast inflationary peak, and we anticipate a softening of sales next year.”
Zahra added the rising cost of doing business, supply chain disruption and staff shortages are top concerns for retailers currently as businesses enter one of the busiest periods of the year.
By state, the ACT led with the highest growth in retail turnover at 24.9% followed by Victoria at 19.6%, NSW at 11.6%, SA at 9.9%, Queensland at 9%, WA at 7.7%, Tasmania at 6.4% and NT at 2.8%.
Shaun Broughton, MD at Shopify for Apac & Japan, described Australian retail as in “good health” despite the month-on-month drop.
“As we head into the busiest time of the year, our research found that shoppers are saving to spend during holiday sales events, with 75% dropping discretionary spend in the last few months. Yet 52% are intentionally putting more money aside than ever to take advantage of sales events, like Black Friday and Cyber Monday” he said.
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