Data is the future of the loss prevention and asset protection industry. A single, data-friendly LP professional can both identify and address leading indicators of loss for a significant grouping of stores, with no need for airfare, travel, or company car. Identification and correction of these leading indicators driven by Read More
Tag: receipt fraud
According to the 2016 National Retail Security Survey, US businesses lost around $45.2 billion in 2015 to retail theft, more than 1.38 percent of overall sales, making retail theft one of the leading issues facing retailers today.
Shoplifting and ORC Fraud Rings
According to the National Association of Shoplifting Prevention (2006), more Read More
The vendor-retailer relationship is complicated, time-consuming, and sometimes frustrating. But if it’s the right relationship, it can be mutually beneficial and everyone is happy—or at least minimally dissatisfied, depending on your perspective.
Vendor vs. Solution Provider
It’s intriguing when a whole group of people starts calling themselves by a different name. Why Read More
A male shoplifting suspect has been coming into Store 153 three times a week for as long as anybody can remember. Store management has even attributed this guy as a major cause of the store’s shrink woes that have put them on the corporation’s “target store” list for the last 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
By Mike Limauro
New retail technology has evolved exponentially over the past few decades, especially when it comes to analytics. Originally, descriptive analytics was the primary investigative tool used across our industry. These solutions provided only a snapshot of information about past events, often in the form of reports. When the reports were opened, Read More
The concept of the retail return is a relatively new phenomenon. In the mid- to late-twentieth century, retailers began accepting returned merchandise as an attempt to gain a competitive edge. The concept worked.
For many retailers, flexible returns have become synonymous with quality customer service. Nordstrom, for example, has built a Read More
So far 2017 has been a very challenging year for retail companies. The number of retail companies that have filed for bankruptcy, closed locations, or dramatically reduced their budgets are clearly shaping this year to be one of the worst years in retail.
The challenge most retailers face is simply a Read More
EDITORS NOTE: David Johnston is senior director of loss prevention and corporate security at Dunkin Brands. Prior to his current position, he was director of business development with LP Innovations and XBR product manager for Datavantage. Johnston held multiple roles in loss prevention for J. Baker and Jordan Marsh. He Read More
Throughout my career in retail loss prevention, I’ve seen some pretty outrageous behavior captured by video surveillance systems. From performance and productivity issues – like employees showing up late and doing personal things on business time – to outright theft from the point-of-sale (POS) system, I’ve seen it all.
As an Read More