7-Eleven’s Loss Prevention Strategy Recognized in 2017 Retail Touchpoints’ Superstar Awards

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Retail Touchpoints’ sixth annual Store Operations Superstar Award winners have recently been announced—and one convenience store retailer is happy to hear the news. This year, 7-Eleven earned the gold medal for its loss prevention strategy.

According to the Superstar Awards report, “convenience store asset protection differs from other retail, especially at a 24/7 operation like 7-Eleven. With a small footprint and easy access, 7-Eleven faces issues like armed robbery, shoplifting and ‘grab and go.’ Operations issues include food safety/freshness, tobacco regulations, and environmental challenges with selling gasoline.”

7-Eleven’s asset protection team has been challenged to maintain a comfortable, safe environment for shoppers while managing these security concerns—and aiming to drive profitability as well. To achieve its goals, the AP team’s strategy focuses on four fundamental pillars: revenue assurance, inventory variation control, incidents and investigations and safety and AP awareness. In addition, a recent 5,000-store rollout of a digital video system from Tyco Retail Solutions has helped boost sales while reducing shrink.

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The Store Operations Superstar Award is “some nice recognition for the team,” said Mark Stinde, LPC, VP of asset protection for 7-Eleven.

The Superstar Awards also recognize retailers that rank among the best for store operations strategies in five other categories: digital innovation, customer engagement, workforce management, store format innovation, and internal operations. Check out the other award recipients.

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