Tag: lp

While the new “anti-establishment” world is rejecting globalization, will retail CCTV technology integration provide the panacea to retail risks?

Almost 100 flea markets were randomly selected from a guide of 1,000 locations and visited by our teams to assess the availability, pricing, and condition of a high-loss men’s shaving product as example of flea markets and stolen products activity.

In the highly competitive retail sector, ensuring that the right product is on the right shelf at the right time is critical. Yet the problem of shelf out-of-stocks (OOS) remains as stubborn as ever. Could the LP team be the key to unlocking this new sales opportunity?

Contemporary loss prevention professionals still maintain responsibility for retail security. But they also must handle employee theft issues, data protection, safety and risk management, inventory audits, legal compliance, and matters related to organized retail crime and fraud.

The number of security guards directly hired by retailers is expected to decline by 2.8 percent between 2014 and 2024, according to the Bureau of Labor Statistics’ occupational outlook.

While declining store traffic continues to dominate the headlines and remains the reason most frequently cited for lackluster store performance, it’s only part of the story.

Overseas travel, particularly business travel, can be seen as glamorous by the uninitiated. In reality, it can be fraught with risk. For those climbing Mount Everest, risk is part of the experience, but for the average business traveler, danger should not be part of the trip.

Why is it that some product protection technologies have been around and working for decades, while other retail loss prevention solutions only seem to work for a few months before offenders aren’t impressed?

There is little consensus on what constitutes “loss” within the retail world nor how it should be measured. The terms “shrinkage” and “shortage” have been loosely applied to encapsulate some of the areas that generate loss, but they are not terms enjoying a clear and agreed-upon definition across the sector.

The NRSS indicates that shoplifting accounted for 35.7 percent of the reported shrink in 2017, which is down from 39.3 percent in 2016.