As we follow the latest in retail news and innovation, we want to keep you in the know and up to date.
We’ve put together this booklet with you in mind, to address current obstacles you may be facing and offer insights and possible solutions.
70% of Retail Managers Witnessed an Increase in Theft Last Year*
More than 30 retailers have been to the nation’s capital to support the Combating Organized Retail Crime Act of 2023. Joined by several congressional leaders from both major parties and the National Retail Federation (NRF), the retailers are backing bipartisan legislation to establish a national coordination center and combine expertise and resources from federal, state and local enforcement agencies and retail industry representatives to curb organized retail crime.
“It’s not only about the dollars involved here. It is about, in some cases, the tragic loss of life, the violence, the aggression that’s playing out in these retail locations,” said NRF President and CEO Matthew Shay.
“Retailers have done everything they can to make their stores and their places of business safe. And, in spite of all that, we still need additional help and additional support. And that’s what the Combating Organized Retail Crime Act will provide us.”
The Act was introduced to Congress in January 2023, but has not yet been voted on.
Along with current efforts, there are a few ways AI may be able to help the fight against retail theft. One being the use of RFID systems to track goods.
Video analytics powered by artificial intelligence enable proactive loss prevention by automatically detecting suspicious activities and providing insights into customer behavior. These AI-driven analytics can identify unusual behavior, such as loitering or people wearing full-face masks, and trigger alerts.
Pushout prevention systems lock shopping carts before exiting, for another way to combat theft. The Freedom Case is a new system that assists with merchandise locked in a case. It automatically opens these secured cases, reducing wait times for customers. This system is currently being tested at about forty retailers.
18% of Retail Workers Work More than 60 Hours per Week*
As a result of a new federal ruling, most salaried workers who earn less than $844 per week (equivalent to $43,888 annually) will become eligible for overtime pay beginning July 1, 2024. And on Jan. 1, 2025, most salaried workers who make less than $1,128 per week will become eligible for overtime pay. As these changes occur, job duties will continue to determine overtime exemption status for most salaried employees.
The rule will also increase the total annual compensation requirement for highly compensated employees from $107,432 per year to $132,964 per year on July 1, 2024, and then set it equal to $151,164 per year on Jan. 1, 2025.
Starting July 1, 2027, these earnings thresholds will be updated every three years, so they keep pace with changes in worker salaries. This will help ensure that employers can adapt more easily as they stay apprised about salary updates will happen and how they’ll be calculated. State-specific rules may also apply, so it’s essential to check both federal and state regulations.
United States Department of Commerce found that imports of paper shopping bags from a number of countries are being sold at less than fair value, also known as “dumping.” This ruling covers printed and unprinted paper shopping bags with handles of any type. We asked Jack Kabic, GM Keenpac & CTC, for some insight on the new legislation:
What was your reaction to the findings on unfair practices regarding paper bags?
Surprised. A category as broad as paper shopping bags requires a global supply chain to support the demand. Historically, U.S. manufacturers held a large portion of the customer base and at a more competitive cost to the end users, that trend is shifting as inflation and cost of labor in the U.S. grows. Imports were relied upon to meet growing demand that domestic companies could not or would not support.
How do you think these trade measures will impact competition within the U.S. market for paper shopping bags?
The impact in the short term will be a constrained supply chain, but as new manufacturers come online, both globally and domestically, the largest impact will be higher costs as labor rates and inflation continue to climb. The ability to secure enough raw materials and specialty papers, including sustainable options, will be challenged.
Do we have any plans on how to navigate around these new rulings?
Our supply chain is ever evolving and expanding, including more suppliers in non-petitioned countries, continuing to support our manufacturers in petitioned countries by evaluating alternative materials and partnering with new converters in the U.S. so we are always positioned to support our retailers.
BRS’s mission is to provide a range of options that suit each customer’s unique goals of sustainability and stewardship. Our experts are always researching products and materials that are less harmful to the environment.
As consumer sentiment shifts further toward sustainability, so too do packaging trends
Thoughtful material choices can help create bags and packaging that are durable enough for consumers to use over and over again.
If your stores undergo construction to implement anti-theft measures, what are some ways you can mitigate disruption for shoppers?
1. Stay organized
2. Label items by area or need
3. Utilize barricades and manage debris