Survey Reveals Impact of Secured Merchandise on Consumers’ Purchasing Behavior
- 27% of shoppers abandon purchase due to locked-up products
- 68% of consumers see locked merchandise at mass retailers
- 25% at department stores, 31% at grocery stores and 23% at home improvement stores
- Younger shoppers and those with children more likely to leave without purchase
- Locked items in health and beauty category most impactful
- Urban areas and Western US have higher locked-up merchandise rates
- National Retail Federation stops annual shrink report, plans new retail theft report later this year
A recent survey by Numerator has revealed that 27% of shoppers will switch retailers or abandon a purchase if they come across locked-up products. The study found that more than half of consumers have noticed an increase in merchandise being locked up in stores over the past year, with mass retailers (68%) and drug stores (62%) seeing the highest percentage. Grocery stores (31%) and department stores (25%) also experience lock-ups, while home improvement stores follow at 23%. Younger shoppers and those with children are more likely to leave without making a purchase when faced with locked items, especially in health and beauty categories. Urban areas and the Western US have higher rates of locked merchandise. The National Retail Federation has stopped its annual shrink report but plans to release a new retail theft report later this year.
Factuality Level: 8
Factuality Justification: The article provides accurate information about the impact of retail crime on sales and consumer behavior, quotes experts in the field, and cites relevant statistics from a reputable source (National Retail Federation). It also discusses different approaches to combat theft. However, it could provide more context on the reasons behind the increase in retail crime and the potential consequences for retailers.
Noise Level: 4
Noise Justification: The article provides relevant information about the impact of retail crime on sales and consumer behavior. It includes insights from industry experts and data on the prevalence of locked merchandise in different regions. However, it could benefit from more analysis or discussion on potential solutions to address the issue beyond locking up products.
Financial Relevance: Yes
Financial Markets Impacted: No
Financial Rating Justification: The article discusses the impact of retail shrink and theft on retailers’ sales and margins, which can affect their financial performance. It also mentions that consumers may leave a store without making a purchase when products are locked up, potentially impacting revenue. However, it does not directly mention any specific financial markets or companies being impacted.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text and it does not discuss any recent events.
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