Tag: shrinkage control
Theft Takes a Toll on Retailers’ Bottom-Line Profits, According to Jack L. Hayes International’s 29th Annual Retail Theft Survey
Over 438,000 shoplifters and dishonest employees were apprehended in 2016 by just 23 large retailers who recovered over $120 million from these thieves, according to the 29th Annual Retail Theft Survey conducted by Jack L. Hayes International, the leading loss prevention and inventory shrinkage control consulting firm.
“In 2016, dishonest employee Read More
In the generally unyielding area of retail loss prevention, few US corporations have been highly successful in staunching the pervasive problem of inventory shrinkage—the problem that refuses to go away. This post highlights nine key shrinkage control approaches that could potentially save US retailing billions each year.
For retail loss prevention practitioners across Read More
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
Over 1.2 million shoplifters and dishonest employees were apprehended in 2015 by just 25 large retailers who recovered over $200 million from these thieves, according to the 28th Annual Retail Theft Survey conducted by Jack L. Hayes International, the leading loss prevention and inventory shrinkage control consulting firm.
“Retail theft, by both shoplifters and Read More
Exacq Technologies, part of the Security Products business unit of Tyco, announces an integration with the Sensormatic Synergy electronic article surveillance (EAS) detection system from Tyco Retail Solutions. The combination of exacqVision video management system (VMS) and the Synergy EAS Series gives retail customers an interconnected Tyco solution to capture Read More
By Liz Martínez
Reports indicate that security in the United States has worsened in many arenas since September 11, 2001. Many crime-fighting resources are being focused specifically on terrorist activities at the expense of other offenses, including those that affect retailers such as organized retail crime.
In addition, once the perception of an immediate Read More
By LPM Admin
Several companies are currently seeking to hire loss prevention agents around the country. LP agents, also known as loss prevention officers or store detectives, are generally responsible for preventing shoplifting, fraud and vandalism, as well as ensuring the safety and security of shoppers.
LP agents, unlike security guards, do not wear Read More
27th Annual Retail Theft Survey Reports Over 1.2 Million Shoplifters and Dishonest Employees are Apprehended by Just 25 Large U.S. Retailers in 2014
Over 1.2 million shoplifters and dishonest employees were apprehended in 2014 by just 25 large retailers who recovered over $225 million from these thieves, according to the 27th Annual Retail Theft Survey conducted by Jack L. Hayes International, the leading loss prevention and inventory shrinkage control consulting firm.
“Something has to Read More