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Daily Dose of iQ: Five Hi-Tech Ways to Curb Employee Theft

According to the National Retail Federation, employee theft cost companies $34.5 billion in 2011, accounting for 43.9% of total losses, wrote John Patrick Pullen of Entrepreneur magazine (Oct. 24).

Pullen identifies five ways employees steal from their workplaces, and presents cutting-edge solutions for each of those techniques:

1. Taking money from the register? Solution: Internet Protocol cameras

Reduce Theft, Increase Accountability and Save Money with Biometrics

Employee theft is a growing concern across all retail industries, in terms of both time and attendance fraud (buddy punching), as well as inventory shrink.

According to the 2010 NRF Security Survey, the leading factor contributing to retail shrinkage was employee theft, accounting for 43.7% of retail losses, and a total loss of $16.2 billion dollars. For retailers to ensure they are protected against theft, they need a way to hold their employees accountable.

Daily Dose of iQ: Nike's Interactive 'Fuel Station' Pop-up Store

Photo credit: Mashable.com

Mashable reported last week (March 9) that Nike is opening a new pop-up store in the U.K. to promote its "Nike+ Fuelband" running bracelets.

"The wristband tracks your movements throughout the day. It records 'your entire athletic life,' says Nike’s promo video, and can sync that information to your smartphone," wrote Mashable's Kate Freeman. "The wristband records steps taken, calories burned and time of activity."

Daily Dose of iQ: Young Shoppers Avoid Salespeople; Prefer Self-Service Technology

At iQmetrix, we've been hard at work building products to help retailers enhance the in-store customer experience. Our RQ Retail Management solution streamlines the POS and back-of-house operations, while our XQ Interactive Retail solutions shore up the front-end, consumer interface within the store.

Daily Dose of iQ: Mobile Customer Engagement via the Signature App

Two days ago, we blogged about the emergence of the "omnichannel experience" in retail, which (through technology and physical interaction) allows merchants to connect with customers on several channels simultaneously.

Daily Dose of iQ: To Delight or Not to Delight Customers??

The Harvard Business Review published a couple of articles last week that could very easily leave retailers confused and bewildered.

Stop Delighting Customers! On one hand, on Jan. 23, Matthew Dixon, Lara Ponomareff and Anastasia Milgramm unveiled the results of their five-year study, which found that customer loyalty is less about providing over-the-top service for customers, and more about making the buying process "effortless" for them.*

Daily Dose of iQ: Shopkick is Like Foursquare, Only Better

Shopkick, a location-based consumer app that helps retailers improve foot traffic and engagement, generated over $110 million in revenue for partners in 2011, reported Ryan Kim of Gigaom.com. Partners include Macy's, Target, Sports Authority, American Eagle Outfitters, Best Buy, Toys "R" Us, Crate & Barrel and more.

Daily Dose of iQ: Highlights from the NRF Store Tour in NYC

A number of iQmetrix staff members were in New York City this week for the NRF's BIG Show and also participated in a NRF 2012 Store Tour on Wednesday, Jan. 18.

The best part of the tour?

Daily Dose of iQ: Today's Session Highlights from NRF 2012

Innovation In Store Design, Resource Design and Technology Attracts New Consumers

Hosted by Jim Crawford, Executive Director-Global Retail Executive Council for Taberna Retail, this session offered an interesting compilation of new technologies. Presenters outlined how different technologies became popular and made themselves prominent fixtures in the retail industry. Different applications include: the Internet and mobile space, augmented reality, second-screen engagement, and projection.

Daily Dose of iQ: From NRF 2012, "What is Store 3.0?"

Alison Paul at NRF 2012 (Photo Credit: NRF)

What is Store 3.0?

Margaret Case Little, Director of Communications for NRF, asked that very question in a blog post for NRF 2012 "Retail's Big Show" today.

The answer is simple:

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