POS Security - How to Protect Your Retail Store Against Employee Theft
POS Security: How to Protect Your Retail Store Against Employee Theft

Employee theft is a significant threat in the retail industry. According to the Retail Council, an estimated 566,000 cases of employee theft go undetected each year in Canada.  In 2022, the average shrink rate in retail rose to 1.6%, up from 1.4% the previous year, with external and in-house theft accounting for 65% of this shrinkage. These rising numbers highlight a growing problem. Not only does employee theft affect the […]

Brick-and-Mortar Is Here to Stay. 3 Reasons Why You Should Adopt a Hybrid Retail Strategy in 2023

Online retail is growing remarkably. Global e-commerce sales accounted for 19% of retail sales in 2019. This number is expected to rise to 25% by 2026. But does this mean brick-and-mortar stores are on the path of embracing obsolescence? Not exactly.  The general prediction for the future of brick-and-mortar was a doomsday scenario for retail stores during and post-pandemic. In contrast, reality has been starkly different. In 2021, store openings […]

3 Payment Trends Overtaking the Retail Industry

Does your business offer cashless payments?   If not, this is something you may want to consider.    The pandemic accelerated the digitization of the payments industry by at least two to three years. Lockdowns, restrictions, and ongoing customer health concerns upended daily life in ways that trickled down into how people are shopping.    Consumer habits have now completely changed from the last decade and will likely continue to […]

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4 Tips to Help Mid-Sized Retailers Better Manage their Supply Chain

The retail industry has faced significant challenges over the past two years, but the supply chain was one of the most affected areas for retailers of any size. Studies show that Coronavirus disrupted the supply chain of 75% of U.S. companies. Raw material delays, shipping obstacles, and transportation changes have taken their toll on North American retailers, yet consumer demand doesn’t wane. As we move towards fall, retailers are wondering […]

Retailers Are Heading into a Post-Covid Era: 5 Strategies for Managing Stores and Driving Sales in the New Retail Landscape

The COVID-19 pandemic changed the retail landscape dramatically, as more consumers switched to e-commerce, and retailers shifted to accommodate shopper’s demands for goods. As lockdowns end, and North America is “opening for business,” experts are optimistic for the future of retail. The annual retail forecast of the National Retail Federation predicts retail sales will grow between 6.5 percent and 8.2 percent to more than $4.33 trillion in 2021. Now retailers […]