FINANCE

Dollar General in 41-store acquisition

BY Marianne Wilson

Dollar General has purchased 41 former Walmart Express locations across 11 states in a move designed to allow the discounter to expand its fresh meat and produce offerings.

Dollar General said it expects to relocate 40 existing Dollar General stores into the purchased sites by October 2016. It will also enter one new market.

Terms of the transaction were not disclosed.

“Dollar General is excited to add these locations to our existing store base. We look forward to the opportunity to better serve our customers in these communities by continuing to provide the convenience and value they expect from Dollar General,” said Todd Vasos, CEO, Dollar General, which operates 12, 719 stores in 43 states.

The stores will feature Dollar General’s updated “DG16 layout” with additional sales floor square feet, complete with expanded offerings such as fresh meat and produce. Dollar General also intends to operate the fueling stations in 37 of the 41 locations.

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REAL ESTATE

Report: Walgreens’ Honolulu flagship back on market

BY CSA STAFF

Walgreens' flagship Hawaii store in Honolulu is back on the market, months after a Los Angeles-based investment bank and wealth management firm paid $54 million to buy the property, the Pacific Business Journal reported.

Click here to read more.

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SECURITY/RISK

Five trends to help mitigate fraud

BY Marianne Wilson

Status quo solutions are no longer effective or acceptable when it comes to fraud mitigation.

That’s the conclusion of Experian’s first annual global fraud report, Global Business Trends: Protecting Growth Ambitions Against Rising Fraud Threats, which is designed as a guide for senior executives and fraud prevention professionals.

The report identifies five trends that businesses should assess — and take action on — to mitigate fraud and improve the customer experience in today’s fast-paced, consumer-centric environment:

1. Applying right-sized fraud solutions to reduce unnecessary customer disruption: It’s time to move on from a one-size-fits-all approach that creates more customer friction than necessary. Instead, companies should apply fraud solutions that reflect the value and level of confidence needed for each transaction. This means right-sizing your fraud solutions to align with true fraud rates and commercial strategy.

2. Having a universal view of the consumer is the core of modern fraud mitigation and marketing: Achieving a universal profile of consumer behavior — beyond the traditional 360-degree view — requires access to a combination of identity data, device intelligence, online behavior, biometrics, historical transactions and more, for consumer interactions not only with you, but across other businesses and industries as well. Companies that translate this knowledge and use it to identify consumers can distinguish a fraudster from a real customer more easily, building trust along the way.

3. Expanding your view through a blended ecosystem: In addition to using your own first-party data sources, companies need to participate in a blended ecosystem, working across businesses and even industries. Fraudsters have access to more data than ever before, including data traditionally used to verify identities, and they use that data to create an entire digital profile. Therefore, you can no longer get to the digital interaction data you need by managing the process in a siloed manner. Achieving an expansive view of the universal consumer requires multiple data sources working together.

4. Achieving agility and scale using service-based models: Today, more and more companies are choosing subscription-based systems rather than building in-house or implementing on-premise solutions. Continuous upgrades and the access to new risk logic that come with subscription models provide more agility and faster response to emerging threats, no matter how fast your volume grows or what products, channels or geographies you pursue.

5. Future-proofing fraud solution choices: Companies need access to a wide variety of traditional and emerging technologies and information sources to fill in knowledge gaps and blind spots where fraudsters try to hide. The ability to modify strategies quickly and catch fraud faster while improving the customer experience is a critical aspect of fraud prevention moving forward.

Bringing together these key trends, the report provides business leaders with the insight they need to fight fraud using the same consumer-focused approach currently being used to attract new customers and grow revenue.

“There is a persistent mindset that fraud loss is just the cost of doing business,” said Steve Platt, global executive VP, fraud and identity, Experian. “But as fraudsters evolve, those losses are climbing, and the status quo is no longer effective or acceptable. We all need to be as forward-looking in fighting fraud as we are in business operations and marketing, and a real understanding of consumers is critical for success. We’re talking about the convergence of business growth and fraud prevention, and we’re pleased to provide the first report in the marketplace covering this topic.”

Download the full report here.

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