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Walgreens takes extreme steps to solve big problem

We are at an interesting crossroads in the retail industry.

Meanwhile, retail is doing better than ever.Despite long-expected bankruptcy In brick-and-mortar stores, large existing companies like Amazon (AMZN)- Get Free Report Target and Walmart are stronger than ever.

Do not miss it:Amazon’s Prime Day was also great for Target and Walmart

Post-Covid-19 spending is coming back like wildfire, and deal-hungry consumers are more discerning than ever. We’re all used to rewarding ourselves with new Nike or lululemon apparel from time to time.lipstick Or small kitchen appliances. During the pandemic, spending has become a cathartic habit that many of us can’t seem to quit.

But good habits also come with not-so-good habits. The issue many retailers continue to grapple with isshopliftingwhich saw a sharp increase during the pandemic

Even big companies have had to grapple with the problem in recent months as it squeezes their bottom line.

Target and Walmart CEOs tackle shoplifting problem

the goal (target)- Get Free Report CEO Brian Cornell Said In its first quarter earnings call, it was announced that retailers had lost millions of dollars in merchandise due to the issue.

“Beyond the macroeconomic challenges, we continue to contend with significant headwinds caused by destocking, given the worsening trends that emerged last year,” he said.

“Shrink can be caused by multiple factors, but theft and organized retail crime are issues of increasing urgency affecting our teams, guests and other retailers. It’s impacting everyone, limiting product availability, creating an inconvenient shopping experience, and putting our teams and guests at risk.”

and walmart (WMT)- Get Free Report Chief Executive Doug McMillon said in December that shoplifting was “more than ever”. In May, half of its Chicago stores closed due to poor performance following theft.

And the chains that have the biggest problems are drugstores. Almost everywhere, populated areas are overrun with essentials and hotbeds of theft.

Razors these days cost $20, a gallon of milk costs over $7, and bandages cost close to $15. Many of us need these things, but when the rising cost of living makes life feel more expensive, so does shoplifting in many cities.

walgreens (WBAs)- Get Free Report is one of the most outspoken critics of the growing problem. The drug store recently released new program There are only two aisles for in-person shopping for essentials, and the rest can be ordered from kiosks so you have to wait for an employee to do your shopping for you.

Big problems need bigger solutions

Big problems come with big solutions. And it takes time (and more employees) to roll out new store prototypes. That’s why some Walgreens stores are tackling the problem on their own.

Some stores in the San Francisco area have chained off certain aisles or areas to deter crime.

San Francisco-based political commentator Richie Greenberg wrote, along with a picture of a large metal-blocked frozen-food aisle, “New: Local Walgreens chained frozen-food aisles to deter theft. San Francisco, Geary is at the 16th Avenue location today,” he tweeted. A chain that prevents the door from opening.

CBS News’ Betty Yu said employees in the area report as many as 20 shoplifting incidents per day, enough to wipe entire stores of popular late-night snack items like pizza and ice cream. said there was also

TheStreet reached out to Walgreens for comment.

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https://www.thestreet.com/retailers/walgreens-takes-extreme-step-to-solve-a-big-problem-shoplifting Walgreens takes extreme steps to solve big problem

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