Loss prevention departments have, for some time, successfully examined risk flags within point-of-sale (POS) transactions to identify exceptions that may indicate theft or loss. These risk flags, many of which decrease potential revenue, are increasingly categorized as SRAs or sales reducing activities. Today, monitoring SRAs to drive shrink reduction is Read More
Tag: shrink percentage
Negotiation tactics are synonymous with terms ranging from compromise and mediation to haggle and interrogation. It is not difficult to argue the fact that interrogations represent the hardest form of negotiating. When people enter into negotiations or mediations, they understand they may need to sacrifice some of their interests in Read More
EDITOR’S 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
Target store loss prevention programs are a key approach to help us to drive down shrink at stores that experience the highest loss rates. They are designed to focus our resources on the areas of the company where losses are highest. Certainly, the most compelling reasons to implement a high-shrink 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.
The term “retail shrink” or Read More
Welcome to the second of three installments covering the first fifteen years of Loss Prevention magazine. I hope you enjoyed the first part in our September–October issue. We will now look at trends and changes in the industry through the eyes of the magazine beginning in 2007 up through 2011. 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
By John Hassard
Movie Gallery is the second largest and fastest growing video rental retailer in the world. Starting with one store in Dothan, Alabama, in 1985, the company today has over 2,500 stores with growth of well over 300 stores per year. To date, the corporate focus has been on rural and secondary markets in Read More
If you’re looking for the perfect loss prevention strategy, one that will resolve accounting errors, stanch losses to internal theft, and scare away thieves… You can stop searching. It doesn’t exist.
It’s true that some are more effective than others, and that some are better suited to one environment over another. Read More