Walgreens Store Revamp Offers Small Businesses New Approach to Combat Retail Theft
A unique redesign strategy piloted by a Walgreens store in Chicago could offer small businesses fresh inspiration on how to tackle retail theft. The store, located in the South Loop area, now features only two open aisles for customer browsing. The majority of products are placed behind counters and can be requested via digital kiosks.
This shift to a more digitally focused retail environment could prove beneficial for small businesses looking to enhance customer and employee experiences while also mitigating theft risks. As customers navigate the new setup, they place orders at digital kiosks, allowing staff to safely retrieve items from shelves not accessible to the public.
Walgreens’ experiment comes after the company scaled back on private security services due to their deemed ineffectiveness. Instead, the drugstore chain has chosen to collaborate more with law enforcement to ensure store security, suggesting a new direction that other businesses could consider.
Another highlight is Walgreens’ notable decrease in shrinkage – the loss of inventory due to factors such as theft. The drugstore chain’s CFO, James Kehoe, revealed that shrinkage had dropped from 3.5% to between 2.5% and 2.6% of sales.
As small businesses continue to grapple with similar challenges, they may consider adopting or adapting elements of Walgreens’ approach, balancing enhanced customer service with effective security measures.
For more insights, check out the full Fox Business report.
This article, “Walgreens Store Revamp Offers Small Businesses New Approach to Combat Retail Theft” was first published on Small Business Trends