The Hustle Daily Show Shocker: The Walgreens/CVS anti-theft lockers are backfiring
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Jan 16, 2025 Walgreens' CEO admits that their anti-theft lockers are hurting sales, as locking up items leads to customer frustrations and a noticeable decline in purchases. The discussion includes how this strategy could shift retailers towards more subscription services to improve convenience. Meanwhile, Coors Light rebrands to Mondays Light, and Delta Airlines tightens its lounge access rules. The conversation also touches on the growing shrink crisis and the ongoing struggles retailers face in balancing security with customer satisfaction.
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Anti-theft Backfires
- Anti-theft measures, like locking up items, are hurting retail sales.
- Customers are choosing to shop elsewhere or online due to the inconvenience.
Inconvenience of Locked Items
- Jon Weigell finds the locked-up items inconvenient and prefers in-store shopping but often resorts to online ordering.
- He points out the irony of Amazon's speed potentially exceeding the time it takes to retrieve a locked-up item in-store.
Locked Items Reduce Sales
- Walgreens CEO admitted that locking up products leads to decreased sales.
- Consumers seek alternatives when faced with this inconvenience.