We hear the phrase everywhere. Yet few ask explicitly: what is omni-channel retailing? Omni-channel is defined by TechTarget as “a multi-channel approach to sales that seeks to provide the customer with a seamless shopping experience whether the customer is shopping online from a desktop or mobile device, by telephone or Read More
Tag: omni channel retailing
Omni-channel retailing is the newest trend in retail selling which allows customers to buy and return merchandise in a huge variety of ways. A customer can place an online order at an in-store kiosk to be shipped to her house. He can place an order from his mobile device to be picked up at a local store. If she doesn’t like the color of the new curtains she ordered through the online customer rewards program, she can return them to the nearest brick-and-mortar store to save on shipping.
Because of fewer in-store transactions and changing retail technology trends such as the increased use of chip cards, loss prevention professionals expect to have to deal more with online credit card fraud of various kinds. Additionally, the move toward the infinite store is also creating new areas that need to be secured, such as networks and customer data.
LP professionals are increasingly being asked to bring their specific skills into areas where they never participated before, causing a shift in responsibilities. “Retailers are going to continue to find creative ways to conduct business and sell to customers. Loss prevention will need to stay very close to these creative methods and retailing channels to ensure LP practices are appropriately woven into the strategies that our merchants and operators develop,” claims one retail leader.
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The dual role of increased data and analytics will create a shift in thinking that will change many roles in retail, including LP. While IT has been the primary business owner in most retail companies, many LP professionals believe that loss prevention in an omni-channel retailing world must take on an expanded, more proactive leadership role to ensure data is secured and properly managed.
“Breach avoidance and protection of consumer and company proprietary information will continue to be a focal point for retailers for many years to come,” says one retailer. Retail data breaches are costing companies in many ways beyond the immediate financial losses, to include litigation, brand protection issues, and additional sales impact.
According to another industry leader, “Having the LP organization partnered with the IT security organization will be the most effective way to improve security of both the actual data and the physical devices that collect and manage the data.” This includes coordinating investigative approaches and law enforcement relationships in the event of a breach.”
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 Bill McBeath
Over recent years, we’ve witnessed a resurgence of interest and substantial growth in the use of radio frequency identification (RFID) technology in retail—a veritable RFID Renaissance—with well over a billion tags used this year, not just in apparel, but for other categories and uses as well. It is being used Read More
By Chris Trlica
Just as the word “e-commerce” has come to refer to a menagerie of different specialized markets, so e-commerce credit card fraud comes in many different guises. And as the great pace of retail evolution dictates that retailers’ transaction processes are constantly changing, so the frauds change with them.
In a bid 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
By Adrian Beck
A major new report published by the Retail Industry Leaders Association (RILA) puts forward a dramatically different way of thinking about the problem of retail loss and how it might be defined and measured in the future.
There is little consensus on what constitutes “loss” within the retail world nor Read More
Annual retail trends consistently emphasize the importance of the holiday season on overall retail performance. And although the face of retail continues to change at an incredible pace with the introduction of new products, new technologies, and the evolving demands of today’s retail customer, this critical piece of the retail Read More
Loss Prevention magazine launched its first issue in the fall of 2001. I had the good fortune to contribute to that edition and author the Industry News column continuously until retiring in 2015. Given this is the 15th anniversary of the magazine, we thought that the readership would enjoy a Read More
Amazon’s long shadow is falling on the entire retail industry and retailers previously thought to be immune to the threat of ecommerce. U.S. fund managers are even rethinking their approach to consumer stocks by focusing on companies whose businesses cannot be upended by the ecommerce giant. Amazon.com Inc., once thought Read More