Unprecedented Rise in Retail Unknown Loss
UK Retail Insights: Unprecedented Rise in Unknown Loss (Shrink) In a recent benchmarking research session convened by ECR Retail Loss, key finance and loss prevention leaders from ten of the UK’s top-tier retailers came together. These retail giants, boasting a combined turnover of a staggering £192 billion, cast a spotlight on the evolving risk environment. […]
Navigating the Storm: The Essential Role of Multiple Crisis Management Plans in Business
The Essential Role Of Multiple Crisis Management Plans In Business In the dynamic world of business, leaders must be prepared for a multitude of potential crises. The notion that a single crisis management plan is sufficient is a dangerous misconception. Just as a suit tailored for one occasion may not be suitable for another, a […]
black box AI
Understanding Black Box AI Black Box AI refers to artificial intelligence systems shrouded in mystery, where users and interested parties cannot access the system’s inputs or operations. Comparable to an impenetrable fortress, black box AI models arrive at conclusions without offering any insights into their decision-making process. Operating with intricate networks of artificial neurons spread […]
Hybrid shopping, Sustainability, and Purpose-Driven Brands
Consumers want it all: A new shopping journey In a world of constant change and uncertainty, consumers have shown incredible resilience. They have adapted to challenging circumstances by embracing technology and finding innovative ways to navigate the unknown. As a result, they now expect brands to do the same. Gone are the days when online […]
How businesses must embrace chaos
In 2023, the ability to rapidly respond has become the standard expectation. With increased uncertainty and mounting complexity, organizations face multiple emerging threats. To navigate these challenges successfully, business leaders must minimize the time between gaining insights and taking decisive action. The need for precise intelligence is paramount to swiftly manoeuvre around the multitude of […]
Is it time for retail to switch to a cashless environment
With the growing digital payments, is it time for retail to switch to cashless environment? The answer is yes! With the growing digital payments and the recent reports of retailers switching to cashless environment, it has become an important question for retailers to make a decision about going cashless or not. There are many factors […]
Business Security to Protect the Workplace
Protecting your workplace is crucial for both your business and your staff your staff. Business owners often find themselves preoccupied with managing cash flow, expanding operations, and simply keeping their businesses afloat. Unfortunately, this can lead to business security taking a back seat, becoming a reactionary measure rather than a proactive one. Neglecting security can […]
Global Risks Report 2023
In this ever-evolving world, we find ourselves confronted with a series of risks that exhibit a unique blend of novelty and unsettling familiarity. The Global Risks Report 2023 meticulously delves into a comprehensive analysis of the most formidable risks that loom on the horizon, potentially impacting our lives over the next ten years. As we […]
The Impact of Artificial Intelligence in Retail
The retail industry is undergoing a dramatic transformation thanks to the infusion of artificial intelligence (AI) into many aspects of the shopping experience. AI is fundamentally changing the way retail businesses interact with customers, manage inventory, and much more. We will explore the impact of artificial intelligence on the retail industry and what it means […]
How to Build an Effective Retail Loss Prevention Strategy
Shrink and margin erosion inflict significant financial losses on retailers each year, amounting to billions of pounds. These losses arise from theft, fraud, and operational errors, which not only diminish profits but also damage a retailer’s reputation and threaten customer loyalty. While certain forms of loss may be obvious, such as employees pilfering cash or […]