ECR Ireland Shrink Share Shop
Irish Shrink Management Opportunity
Every type of retail business no matter what size or category of product sales on offer, is open to the threat of “lost profit opportunities” as a result of shrink. Traditionally and in the main this has been perceived as external theft of goods by customers, suppliers or staff but it is much more than this. Shrink can also be caused by poor stock control on fresh produce, damage to goods once received and inaccurate pricing, IT or data errors. With the opportunity for sales reducing as consumer spending declines, NOW is the time to address the challenges of best practice on Shrink within your business. ECR Ireland have taken the lead in this specialist area and invite you to attend the first Shrink Share Shop in Ireland.
Irish Shrink Management Opportunity
ECR Ireland fielded the 1st online Irish Shrink survey in 2008 to better understand industry Shrink awareness and to identify how retailers & suppliers addressed Shrink issues. The survey was repeated in January 2010.
2008 Key insights:
68% of respondents had never received Shrink training
63% of respondents don’t have access to robust Shrink data
78% of respondents didn’t have a stated Shrink policy
Primary Shrink focus was on preventing shoplifting:
- defensive merchandising / delisted products
- inconvenienced shoppers / sales decline
68% of respondents had never received Shrink training
63% of respondents don’t have access to robust Shrink data
78% of respondents didn’t have a stated Shrink policy
Primary Shrink focus was on preventing shoplifting:
- defensive merchandising / delisted products
- inconvenienced shoppers / sales decline
2010 Key Insights:
87% agreed that Shrink is more important now
54% agreed it is an issue in more categories
Only 32% had received comprehensive Shrink training
just 19% agreed that they regularly engaged with their retailer / supplier partner to work on Shrink
When asked “How can your business improve its Shrink performance in 2010?”
#1 response (57%) was “Improve staff Shrink awareness & training”
87% agreed that Shrink is more important now
54% agreed it is an issue in more categories
Only 32% had received comprehensive Shrink training
just 19% agreed that they regularly engaged with their retailer / supplier partner to work on Shrink
When asked “How can your business improve its Shrink performance in 2010?”
#1 response (57%) was “Improve staff Shrink awareness & training”
Conclusions:
(1) Reducing Shrink is even more important for 2010
(2) There is a need for more Shrink training and collaboration
(1) Reducing Shrink is even more important for 2010
(2) There is a need for more Shrink training and collaboration
Announcing the ECR Ireland Shrink Share Shop 2010
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For this reason, ECR Ireland is setting-up a Shrink Share Shop for it's members with the objective of advancing Shrinkage Management expertise in Ireland. The Share Shop will achieve this by reviewing the ECR Europe Shrinkage Road Map and by setting up collaborative retailer / supplier projects to work together to develop & share Irish Shrinkage Management best practices. When: Friday 26th February from 9am to 12.30pm
Where: IBEC, Confederation Hse, 84-86 Lower Baggot St, Dublin 2
Who: Anyone for whom Shrink is an issue anywhere in the supply chain:
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- instore, head office, suppliers, retail ops, logistics, loss prevention officers, shop owners/managers, buyers & manufacturer account managers.Cost: Free to ECR Ireland members
How do I get involved?Email ECR Ireland to confirm your interest by the 24th Feb
Agenda
1. What is Shrink? The HOT stores / Hot products concept etc
2. Intro to the ECR Shrink Road Map – what to do about Shrink
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3. ECR Ireland Online Survey results – key insights / indicated actions4. Designing the Sharegroup format – what do we want to achieve, knowledge gaps, training, potential projects, retailer / supplier partnerships, outline action plan, owners & target dates
Facilitators
Mark Boggis, On Shelf Availability Manager, P&G UK
Terry Clancy, VP & GM, Systems & Software Bus Unit, Checkpoint Systems Inc.
Hugh O' Neill, Shopper Based Design Manager, P&G Ireland
Declan Carolan, General Manager, ECR Ireland
• The Share Shop should be a collection of retailers & suppliers motivated to implement a shrinkage policy in their own organisations.
• Each ECR member company should be entitled to participate.
• The first Share Shop meeting should be an interactive shaping meeting that will set the agenda ongoing.
• Possible outcomes may include
1. Shrinkage theory education
2. Share domestic & international best practice & case studies
3. Design Shrinkage Policy
4. Learn how to collect shrinkage data
5. Measure shrink before & after
6. Discuss new Shrinkage technologies
7. Develop into a share group on store operations
Join Us!
Interested parties should confirm attendance by contacting ECR Ireland by Feb 24th
Shrinkage Links
Download Colin Peacock's presentation at the ECR Ireland Conference 2010, "The Last Avaiulable Free Money"
here
