Appriss Retail, a leading provider of data and analytics solutions designed to reduce retail losses, decrease fraudulent and abusive returns, and provide a more seamless consumer experience, today announced that Officeworks, a chain of Australian office supplies stores operated under parent company Wesfarmers, has selected Appriss Retail’s Secure solution to reduce shrink. This partnership solidifies the solution provider’s position in Australia ahead of its attendance at Retail Risk Sydney on Feb. 29.
Traditionally, Officeworks has relied on standard reporting practices to detect behavioral exceptions at the point of sale, making it hard to identify the root causes of shrink and margin erosion. Additionally, a June 2023 study from the NSW Bureau of Crime Statistics and Research found that reported incidents of retail theft have increased by 55.7% in Greater Sydney and Regional NSW between 2018 and 2023.
Faced with outdated reporting practices and a growing trend in retail theft, Officeworks needed a solution that would help it better identify these issues at the point of sale. To address this challenge, Officeworks selected Appriss Retail for its globally recognized ability to protect online and in-store transactions from theft, fraud, organized retail crime, claims and appeasements, and more.
With Secure, Officeworks will have a comprehensive view of its business that will improve how the retailer responds to potentially fraudulent transactions and returns. Across the solution provider’s portfolio, Appriss Retail customers experience 100% visibility into sales reducing activity and exception metrics, resulting in shorter investigation times and reduction in shrink.
“Shrink is an ongoing challenge for the retail community and oftentimes the root of the problem is convoluted,” said Michael Osborne, CEO, Appriss Retail. “My team is dedicated to helping retailers worldwide like Officeworks pinpoint abnormalities in their customer data and take action to prevent margin erosion before it’s too late.”
By expanding its existing presence in Australia, Appriss Retail will help more retailers prevent loss, enhance their inventory positions, and streamline business operations. In addition, Appriss Retail will soon bring its annual user conference to Australia to introduce its industry-leading returns authorization solution to the market and allow retailers across the region to hear from existing Appriss Retail customers like Officeworks and Myer, Australia’s largest department store.
To learn more about how Appriss Retail can help retailers worldwide protect the transaction, in-store and online, visit www.apprissretail.com. Retailers attending Retail Risk Sydney on Feb. 29 can book a meeting with Appriss Retail to discuss partnership opportunities.
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