LPM Insider’s Top 5 Loss Prevention Technology Articles of 2017

retail technology trends

9 Emerging Retail Technology Trends You Need to Know

This study looks at how retailers view the potential of 9 emerging retail technology trends.

By Adrian Beck, Walter Palmer, and Colin Peacock

Loss prevention practitioners have a long track record of investing in a wide range of technologies to help control the various losses retailers experience. The extent to which they do this has regularly been measured by various annual surveys, such as the National Retail Security Survey. This benchmarking study, however, focuses particularly on understanding LP executives’ views of the potential value of emerging retail technology trends, the extent to which those technologies are currently being used, and the main business challenges the executives see the technologies addressing.

For the purpose of this benchmark survey, “emerging technologies” are defined as those evidence suggests some retailers have begun to use, but not as widespread as more established technologies prevalent across the retail sector (such as alarms, EAS, and CCTV). They also differ from what might be regarded as future retail technology trends that sound promising but have yet to move beyond the conceptual, laboratory, or testing phase of development, for example drones or robotics. After extensive discussion with representatives of the retail loss prevention industry, nine emerging technologies were chosen for consideration… Read the full article.

An Important Benefit of Electronic Locking Systems: Business Efficiency

By Greg Rewers

Reducing and eliminating theft is the first benefit considered in upgrading from traditional locks and keys to an electronic locking system for cabinets. It makes sense. State-of-the-art electronic access control systems can be more reliable and durable than mechanical locks and metal keys. For instance, secure electronic locking solutions can provide up to four times the strength of keyed locks. Invisible locks, as well as cabinet fronts without keyholes, also thwart potential thieves.

However, enhanced security isn’t the only compelling reason to switch to electronic access control. Another major advantage is greater business efficiency… Read the full article.

Should I Remove That Old Legacy Tech from My Stores?

Weighing the value and effectiveness of existing loss prevention technology solutions.

By Mike Giblin, LPRC

As we march closer to 2020, a few common themes have emerged among the research questions that the Loss Prevention Research Council (LPRC) receives from its membership base. While much of our research seeks to provide insight on whether introducing a new loss prevention technology solution or policy to your retail environment will curb shrink and protect sales, members are starting to adopt the same analytical approach for what’s already in their stores.

Does the technology that’s already in your stores work? The intuition of many loss prevention professionals on this question is shifting toward skepticism. There are a few reasons behind this, some of which are logical, and some may require a second look… Read the full article.

Which Retail Loss Prevention Solutions Stand the Test of Time?

All retail loss prevention solutions are designed to accomplish the same outcome: deterring or catching thieves.

By Mike Giblin, LPRC

Why is it that some product protection technologies has been around and working for decades, while other retail loss prevention solutions only seem to work for a few months before offenders aren’t impressed? Many components that factor in to answering this question, but one variable in particular explains a large chunk of the variance in effectiveness window, or “duration of action,” that we observe… Read the full article.

A New LINK between Technology and Interview and Interrogation Training

The latest offering from Wicklander-Zulawski provides exclusive simulated interviewing technology to help investigators perfect their skills.

By Jac Brittain, LPC

To really consider yourself a professional and a craftsman at any skill, practice is a must. We benefit from practice by applying knowledge through interaction, connecting with the material on a deeper level and learning from the experience. This concept is no less true when it comes to interview and interrogation training, where performance and results are critically important at so many different levels. By striving for perfection through repetition, it hones our skills, enhances our understanding, increases our familiarity with the material, and results in better outcomes when it matters most.

In retail loss prevention, what it means to be a professional grows more complicated every day. There is an ongoing need to learn and evolve with the changing needs of the business; applying what we know—but constantly seeking new and better ways to make that knowledge relevant in a new age of technology, and a new era in retail. This applies to professionals at every level, and in every aspect of our growth and development.

As a fundamental aspect of many loss prevention positions, interview and interrogation remains a skill set essential to the profession and the needs of the industry. In fact, most retailers require formal interview and interrogation training as a developmental standard for their loss prevention team members, and will not allow their loss prevention/asset protection team to conduct interviews without this training… Read the full article.

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