It seems that Walgreens extreme loss prevention methods made things even worse. The drugstore chain reported a $245 million loss as a result of the efforts. The CEO didn’t provide any additional details, beyond they would be working on creative efforts to turn things around. In reporting on this story, Regina Cho covered what people had to say via X:
There seems to be a tricky line between effective loss prevention and customer service. While you can keep would-be shoplifters from getting to the product, you also keep shoppers from it as well. As the commenter mentioned, when it becomes difficult to make a purchase, people will simply go elsewhere. The measures by Walgreens added more friction to the transaction experience, so more people opted out. Also, in my opinion, measures like that indicate to people that crime is a problem. That constant reminder can make people either feel like there are unfairly being treated like a suspect or are in an area that is unsafe.
But now with this hard data in hand, Walgreens has a choice to make. How do you think they will update their measures? What do you think is the best way to handle loss prevention while also improving the customer experience?
Source used for info and image:
Cho, R. (January 15, 2025). Walgreens CEO Admits Locking Items Up Was Bad For Business, Consumers React. Yahoo News, reposted from Vibe. https://finance.yahoo.com/news/walgreens-ceo-admits-locking-items-200812537.html
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