The number one threat which most grocery stores face today is the loss of stock through shoplifting. The high threat level on valuable items means that stores across the UK are implementing measures to make products harder to steal. Although these measures can lower the levels of theft, they can also make it difficult for customers to purchase products due to accessibility issues.
We were approached by a UK-based food grocery store who were struggling with the impact of shoplifting. The profits were significantly impacted, with both floor planners and store managers becoming frustrated in their efforts to avoid large losses.
Our first step in assisting the company was to find a way to reduce the level of loss on high-value stock. The Cloudaeon team consolidated a variety of data sets at the most granular level possible, which enabled the team to build region specific store insights.
This insightful information was designed to highlight patterns and also the most likely root causes of stock loss. Once the insight tool was ready our team ran a trial for twelve weeks by collaborating with both floor planners and store managers.
Using the actionable insights together we were able to make changes to the floor plan, which helped in reducing high-value stock loss without having a negative impact on sales. These changes led to a £700,000 year-on-year reduction in stock loss against like for like stores.