The pace of change in the retail industry with the move to online shopping, emergence of mobile retail, and use of social media as part of the “daily fabric of shopping” are three of the disruptive forces highlighted in PwC’s Total Retail 2015: Retailers and the Age of Disruption report from their recent industry survey.
In their feature article entitled “Rethinking Loss Prevention and Shrink Management,” authors Bill Titus and Suni Shamapande conclude that these and other factors are making it more difficult to prevent, detect, and manage loss and shrink.
“The survey results suggest a need for many retailers to rethink their LP strategies, organizations, and practices. Among other things, retailers must embrace formal root-cause analysis and the use of data analytics to remain competitive in a dynamic, increasingly risky environment,” they write.
The article in the current March-April 2016 edition provides detailed statistics illustrated with multiple charts and graphs that provide readers with a thorough look at the survey results from a cross-section of US retail organizations.