After a three year absence, Walmart (WMT) greeters will soon be saying “hello” again at several stores. The world’s largest retailer clarified to Yahoo Finance that greeters have never really left us, but were given other duties that took them away from the entrance.
The renewed focus on greeting actually has very little to do with welcoming shoppers and more to do with making sure customers don’t walk away with merchandise without paying. Shoplifting, referred to as “shrink” in the retail business, is an increasing problem.
“I think the extra set of eyes at the door makes some kind of sense,” says Yahoo Finance Senior Columnist Michael Santoli. “Shoplifting is a huge issue for every single retailer.”
According to the National Association for Shoplifting Prevention there are 27 million shoplifters in the United States today and the most recent Global Retail Theft Barometer says "shrink" cost U.S. retailers $24 billion in 2013, the last year for which they have data.
“What [Walmart CEORead More »from Walmart welcomes back greeters