It wasn’t too long ago that the best way to deter shoplifters was to lock up your high-risk, high-value products or keep them behind the counter. But with ever-increasing competition and shrinking margins, successful retailers need to have their merchandise out on the sales floor, where potential customers can touch Read More
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The retail loss prevention industry has seen a pronounced evolution through the years. It is very different today than in the past, and it will continue to evolve. I have been in this business for over 40 years, so I have experienced this evolution firsthand. But until writing a recent series Read More
By Adrian Beck
For the majority of retailers, loss is an inevitable part of doing business. What form this loss takes and, critically, how much it costs the business varies enormously depending upon the type of retailer and the quality of their operations. In addition, the customer experience is often heavily dependent upon Read More
At a time when store margins are under intense competitive pressure, retail shrink can make or break a retailer’s bottom line. But today’s retail shrink numbers are vulnerable to blind spots and imprecise metrics. In addition, most analysis and response to retail shrink are backward-looking: useful for staffing and long-term Read More
Are you in charge of your company’s technology budget? How do you know whether the new loss prevention equipment you’ve just rolled out in five stores is performing as it should? What metrics are you using to gauge its success?
Today’s LP practitioners must be able to provide justification for Read More
Here we are at the third and final installment of the first fifteen years of Loss Prevention magazine. I had indicated in the first two articles that part of the third article would include a future look at some of the most important loss prevention technologies and practices such as Read More
In Part 1 of this article series , we looked back at the beginning of this story in 1994, when The Home Depot executed the first contracts for EAS labels affixed directly by manufacturers in their packaging, rather than by in-store labor.
At that time, there were three companies jockeying for control Read More
Imagine starting your day off receiving budget approval for new loss prevention equipment to protect your high-shrink departments in ten different stores. You are thinking of unrolling this technology to other departments based on the performance in shortage reduction, but how do you measure it? Do you measure the stores Read More
For those of who have been in the loss prevention business for a number of years, you are surely familiar with the retail shrinkage life cycle illustrated in Figure 1. No doubt some of the businesses you have worked in have been around it a number of times.
It is a Read More
By Chris Batson
Loss prevention in distribution centers (DCs) provides a unique challenge to the industry. As with all LP programs, the distribution center loss prevention team is tasked with reduction of shrink and generating a sufficient return on investment to justify their programs.
Given the growing investment in supply chain inventory management, how Read More