By Erin Harris, Integrated Solutions For Retailers magazine
Shrink plagues all retailers, but the c-store industry has always been particularly vulnerable to losses due to its high-traffic locations, high-volume and low-value products, and relatively low-wage employees. The current nationwide in-store shrink figure among cstore chains rests at 1.33%, a very respectable figure given the state of the economy. But, factor in cstores' safety and risk management concerns, and you've got a recipe for reduced profit margins. As Mike Squillace, VP LP (loss prevention) and risk management at Speedy Stop Food Stores learned, replacing outdated LP technology with an integrated solution that provides real-time access to shrinkage data enables your organization to protect and recover company assets.