Artificial intelligence tools are now becoming a seamless part of our everyday lives. Just ask Alexa. Or Siri. Or the customer support chatbot for Lyft, Spotify, or Whole Foods. It stands to reason that retail loss prevention should be leveraging this new, valuable technology for its own toolkits as well.
About the Author
Articles by Kelsey Seidler
The use of geospatial predictive analytics as a key tool in the fight against organized retail crime (ORC) is the subject of a feature article in the October 2018 issue of LPM Online.
Students from the Retail Industry Leaders Association (RILA) Student Mentor program worked alongside the asset protection team from The Kroger Co to dig deep into the data and use predictive modeling to help make recommendations about problem areas.
The amount of change Chad McIntosh has seen with Bloomingdale’s loss prevention department over the years has been remarkable. Read more in the exclusive interview in the September-October issue of LP Magazine.
“Driven by improved accuracy, speed, and an increased need for enhanced surveillance and monitoring, the global facial recognition market is predicted to grow from $3.85 billion in 2017 to reach $9.78 billion by 2023.”
According to a 2017 National Retail Federation survey, organized retail crime (ORC) is on the rise. That’s useful information for corporate industry executives, but loss prevention professionals in stores—those who see loss prevention issues like ORC every day—are well aware of the problem.
The latest data reveal that criminals aren’t giving up on card theft; they are just changing their tactics. This post provides a snapshot of recent credit card fraud statistics so that you can stay informed.
Law enforcement partnerships with the retail community can establish a foundation of mutual support. When agencies, retail investigators, and prosecutors make a sincere effort to share information in response to ORC concerns, they are more likely to resolve issues and make arrests that can halt theft operations.
What happens when the criminal behavior of a shoplifting ring is actually connected to something even more ominous than a high shrink rate? What about when it’s tied to modern slavery?