Over the past 25 years, return on investment, profit center, cost center, and value-added have become significant buzzwords in the loss prevention industry. While not unique to our industry–these concepts are also important in other staff functions, such as information technology and finance–I can’t imagine ROI has gotten any more attention than Read More
Tag: retail shrinkage
Retail shrinkage stems from a handful of causes that are rarely unique to a single retailer. Theft, whether internal or external, and operational error make up the majority of retail shrinkage. The level of severity is usually the primary difference; this can fluctuate due to product type, geography, and store 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
Understanding how to calculate shrinkage in retail is a fundamental but critical concept within the loss prevention profession as well as throughout the retail industry. Ultimately, retail shrink directly results in lost profits, and can have a dramatic impact on the success of the retail enterprise.
Let’s begin by establishing a Read More
Retail loss is a serious issue, amounting to a loss of billions of dollars every year. Visit BrickHouse Security at Booth 1250 to learn more about dramatically reducing shrinkage with our custom retail loss prevention solutions. Read More
According to industry surveys as well as industry buzz, it’s one of the hottest technologies in the retail loss prevention industry, with users swearing by it and companies spending hundreds of thousands of dollars to implement it. What is all the excitement about? Online POS exception reporting systems.
“Exception reporting” is Read More
It’s been fifteen years since LP Magazine was first introduced to the loss prevention industry. From that inaugural edition through today, there have been many great stories and great people that have filled the pages of the magazine. Many things have changed with both the people and the initiatives across Read More
The most recent National Retail Security Survey (NRSS), led by Dr. Richard Hollinger of the University of Florida, uses empirical retail loss prevention data to break down the annual $44 billion in retail shrinkage for 2014 as follows:
• Shoplifting –38% or $16.7 billion
• Employee theft – 34.5% or $15.2 billion
• Read More
Retailers Estimate Shoplifting, Incidents of Fraud Cost $44 Billion in 2014 According to National Retail Security Survey
By LPM Admin
NRF/University of Florida Survey Finds Shrinkage Totaled 1.38% of Sales Last Year
Long Beach, California, June 24, 2015 – A new study being released from NRF PROTECT, the industry’s largest retail loss prevention event in North America, finds that retailers lose billions of dollars to shoplifting, employee and vendor theft and administrative Read More