Walgreens used this strategy to reduce theft. Turns out, it was bad for business
Over the years the pharmacy chain used strategy to combat shoplifting. Walgreens CEO Tim Wentworth said the company’s decision to lock up products after reporting a 52% increase in stolen inventory has backfired, according to multiple reports.
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Walgreens: We Accidentally Proved Locks Are a Dumb IdeaConsider it a simple economic truth, one that ordinary Americans evidently knew long before CEOs: "When you lock things up ..
CEO Tim Wentworth admitted in a recent fiscal report call that combatting shoplifting by locking up items has led to customer dissatisfaction.
"When you lock things up … you don't sell as many of them. We've kind of proven that pretty conclusively," Wentworth said. "I ...
Walgreens is struggling to deter shoplifting at its stores, according to CEO Tim Wentworth, who described it as "a ...
The “smart doors” are just one of a number of missteps that Walgreens has taken in recent years which have made the retailer increasingly hostile to shoppers. On the company’s first-quarter earning ...
Walgreens' sale of its majority stake in primary and multispecialty care provider VillageMD is underway, CEO Tim Wentworth ...
Tim Wentworth, CEO of Walgreens Boots Alliance, the parent company of Duane Reade, acknowledged to investors during a Jan. 10 ...
Walgreens will close five Chicago stores next month, part of the Deerfield-based pharmacy chain’s plan to shutter 1,200 ...
The CEO of Walgreens admits that locking up products to deter theft is irritating paying customers and is hurting sales. The ...
In a recent call with analysts, Walgreens CEO Tim Wentworth said preventing theft in stores "is a hand-to-hand combat battle ...
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