What is shrink?
The proper definition in an easy concise explanation is this: The loss of product inventory. Shrink falls into two categories—operation management issues and theft. When shrink occurs in a supermarket, it differs from the retailers based on grocery items expiring.
The growing problem at both the store and corporate level towards product expiration in Supermarkets today are caused by three main problems: task management, lack of priority, and inefficiencies brought on by product trends. The issue of product expiration has been the Achilles heel for Supermarkets looking to distinguish themselves from the competition through a…
In efforts to extend their brand, Kroger has added a dietitians and nutritionist to their care model, organically growing as an industry leader in health and wellness.
The Little Clinic from Kroger is testing out nutritional counseling in Nashville, Tenn., Columbus and Cincinnati, Ohio, and Denver
For retailers, shrink caused by perishable items amount to a lot of money.
Items such as meat, dairy, fruit, vegetables and flowers expire prematurely when temperatures are handled incorrectly. The final quality of the product is determined at the distribution centers and during the transportation.
At 80 million, Millennials make up the largest demographic group.
Though some argue that change within industries should cater towards the spending power of the older generations, the younger millennial group, seems to be the focus of new studies, conferences, and recommendations on how brands should conduct a proper strategic plan to attract their attention and gain their business.