Here’s how one shoplifter assesses risk. “First things first—you want to know if they got what you want. The second factor is the risk involvement. The risk involvement will be security times cameras times employees times space times [other] customers."
To the average consumer, a loss prevention manager might once have been perceived as a “security guard”: a reactionary presence in a retail establishment whose primary responsibility is to apprehend shoplifters.
At a time when store margins are under intense competitive pressure, retail shrink can make or break a retailer's bottom line. But retail shrink numbers are vulnerable to blind spots and imprecise metrics.
While it would be impossible to give an exact formula for success in every company and project, it is reasonable to explore a framework that can be used to increase our chance at getting our proposal approved and implemented.
This post's findings are the result of more than thirty retail and law enforcement interviews expressly asking for opinions and thoughts on investigating ORC. It's from the archives, but its advice is timeless.