WEGMANS' (& Walmart's) decisive action to discontinue their scan apps after experiencing too many losses was the focus of Burt Flickinger's interview with WBEN 930am Radio (#1 News Station in Buffalo-Niagara USA-Southern Canada Market) by HALL Of FAME broadcast journalist, SUSAN ROSE, and Award-Winning WBEN teammate, BRIAN MAZUROWSKI.
Wegmans has the courage to do societal good by keeping prices low & will find a better future of technology & shopping, but its app made it too easy for dishonest shoppers to steal up to $900/day/store with no Criminal consequences in NYState & the N/East & other U.S. areas with large populations.
Only 2.9% of losses by theft are recovered, and retail theft is increasing by 13 percent a year. Shoplifting accounts for 4% of inflation so food inflation would be 10% without theft instead of 14%. As a political independent, it is tough for the "laissez-faire" gov't. leaders' lax enforcement leads to putting honest store owners/operators, workers & vendors Out-Of-Business. Hence, other major Food, Drug & Discount retailers will discontinue some in-store payment apps.
Other retailers will watch, study and follow Wegmans. Walmart has already shut down its test. NY Governor Hochul inherited a policy that up to $900 can be stolen per day, per store per shopping trip, with almost no consequences for the criminal. While canceling its app creates some risk of shoppers shifting to competitive stores, Wegmans has a great "buy-online, pickup in-store" program that's working very well.
Like Scylla and Charybdis from Greek mythology, you risk being on one side or the other, but better technology is on its way. Amazon has artificially-enabled stores in the Chicago suburb of Naperville, but its average transaction is $25 to $30, while Wegmans is in the hundreds of dollars, making it easier for a dishonest person to steal. Bob, Peggy, Danny, Colleen, and Nicole Wegman have been the US & Worldwide leaders for 40+ years in using scanning technology to lower prices and make it easier to check out. Wegmans' intelligence and innovation will continue to develop newer, better technology for shoppers & overall Societal Good.
Strategic Resource Group is the lead retail and brand CPG consulting firm throughout the United States and the globe. With more than three decades of experience, our team strategically collaborates with top retail chains, wholesalers, suppliers, and investment firms. Our retail industry experts are highly skilled at illuminating retail trends, identifying opportunities to increase consumption, and growing retail sales.
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