The APLC provides a platform for industry leaders to come together to address challenges and issues in asset protection. Read More
Tag: omni channel retailing
Omni-channel retailing is the newest trend in retail selling which allows customers to buy and return merchandise in a huge variety of ways. A customer can place an online order at an in-store kiosk to be shipped to her house. He can place an order from his mobile device to be picked up at a local store. If she doesn’t like the color of the new curtains she ordered through the online customer rewards program, she can return them to the nearest brick-and-mortar store to save on shipping.
Because of fewer in-store transactions and changing retail technology trends such as the increased use of chip cards, loss prevention professionals expect to have to deal more with online credit card fraud of various kinds. Additionally, the move toward the infinite store is also creating new areas that need to be secured, such as networks and customer data.
LP professionals are increasingly being asked to bring their specific skills into areas where they never participated before, causing a shift in responsibilities. “Retailers are going to continue to find creative ways to conduct business and sell to customers. Loss prevention will need to stay very close to these creative methods and retailing channels to ensure LP practices are appropriately woven into the strategies that our merchants and operators develop,” claims one retail leader.
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The dual role of increased data and analytics will create a shift in thinking that will change many roles in retail, including LP. While IT has been the primary business owner in most retail companies, many LP professionals believe that loss prevention in an omni-channel retailing world must take on an expanded, more proactive leadership role to ensure data is secured and properly managed.
“Breach avoidance and protection of consumer and company proprietary information will continue to be a focal point for retailers for many years to come,” says one retailer. Retail data breaches are costing companies in many ways beyond the immediate financial losses, to include litigation, brand protection issues, and additional sales impact.
According to another industry leader, “Having the LP organization partnered with the IT security organization will be the most effective way to improve security of both the actual data and the physical devices that collect and manage the data.” This includes coordinating investigative approaches and law enforcement relationships in the event of a breach.”
By Jack Trlica
One of the highlights for senior loss prevention executives was a private luncheon with three University of Florida scientists who discussed research into omni-channel retailing, the effects of fear of crime on shopping behavior, and reducing corporate digital threats. Read More
EDITORS NOTE: Kevin Valentine, CFI, LPC, retired at the end of 2017 as senior vice president of internal audit, loss prevention, and enterprise risk management for Signet Jewelers. He spent more than 35 years with the company in various management roles. During his career, Valentine was active in the loss Read More
Omni-channel Retailing and Supply-Chain Risk Management Are the Focus of the Current LPM Online Magazine
By Jack Trlica
Driver and cargo security is only one concern for loss prevention and risk management professionals in today’s complicated omni-channel world. Read More
By Adrian Beck
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. Read More
By Jack Trlica
The April 2018 edition of LPM Online is focused on disruptive and emerging technology. Here’s a look at the excellent articles in this issue. Read More
In an industry as dynamic as retail, asset protection leaders have long been faced with the daunting task of keeping pace with the changing landscape of the industry. This has never been more true than it is today.
Safeguarding company assets is no longer synonymous with simply catching shoplifters and requires Read More
Approximately fifty asset protection pyramid heads participated in last fall’s APLC meeting in Nashville. During the meetings, eight different retailers hosted store visits, providing insight into their top asset protection challenges. Read More
As online-only retailers continue to see expanded success, traditional brick-and-mortar stores must turn to new strategies to keep up with customer demand. Today’s retail environment demands that the customer shopping journey be a seamless one as it transitions from a physical store to a smartphone app to an interactive catalog (or Read More
By John Wilson
If connectivity in today’s digital world represents “everything,” then surely the opposite must be true of disconnectivity.
As we immerse ourselves in the 21st century and the Internet of Things—the symbiosis between design and device—and live our lives according to the new laws of online and omni-channel retailing that are but Read More