The challenge
Fitting with their raison d’être – to invest in people and price – One Stop convenience stores needed to
address annually rising shrinkage costs in order to allow investment in these areas. In response, project ‘Fix Shrink’ was launched.
An important proof point in this project’s complexity, and the vision and success cited against it, is the
definition of shrinkage. Categorised into two types – known and unknown. The former covers markdowns
and wastage – visible, quantifiable and easy to address. The latter, however, and the type on the agenda at One Stop, covers theft, non-delivery and supplier overcharges. Unknown shrinkage is hard to address.
itim Group plc (LON:ITIM) is a SaaS-based technology company that enables store-based retailers to optimise their businesses to improve financial performance and effectively compete with online competitors.