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How to Calculate Shrinkage in Retail

Understanding how to calculate shrinkage in retail is important. However, understanding why it is important to control these results and how we can impact company profitability by both improving sales and controlling retail shrinkage is the key to success.

The Many Ways Customer Service Impacts Retail Revenues

Focused, friendly, and attentive salespeople that have the ability to successfully interact with customers drive business excellence from every possible perspective, making quality customer service an integral component of any successful loss prevention program. This is a shared goal that will have a direct bearing on sales, shrink, and overall business profitability.

A Culture of Tradition and Change: Loss Prevention in Japan

Japan has always had a reputation for its fascinating, distinctive traditions. As an island nation with a long history of isolation, many aspects of the culture are immersed in a rich history and deep traditions dating back thousands of years. On the other hand, it is a country that continuously pushes new trends. The same is true for retail security.

Is Shoplifting a Gateway Crime? Criminal Justice Survey Says “Yes”

Seventy-nine percent of criminal and juvenile justice professionals believe, based on their experience with offenders, that shoplifting is a "gateway" crime. Almost eight out of ten said that their professional experience has shown that shoplifting is commonly a gateway to additional acts of shoplifting and more serious crimes.
retail shoplifting

To Detain or Not to Detain

Apprehension may or may not generate general and specific deterrence with some people. Detention can shame the offender or at least convince them to not try that crime again. Non-detention risks sending the message to those thieves and others aware of the policy that the store will not physically resist ongoing theft efforts. What does a retailer do?

An About-Face for LP? Advances in Identification Technology Let Retailers Get Proactive

"We proved-out that the technology works phenomenally well. The technology is great." This effusive praise by an LP executive who oversaw a several-store test...

The Continuing Battle of Fitting Room Theft in a World of Increasing Privacy Concerns

When it comes to fitting room shoplifting, it’s impossible to accurately gauge the total loss. However, the anonymity provided is still the shoplifter’s best friend. But changing privacy and surveillance laws are making it more and more difficult to combat fitting room thefts. Consider this partial list of suggested LP tactics.

New Book on the Evolution of Retail Asset Protection

Tom Meehan, CFI recently completed his first book-length publication titled "Evolution of Retail Asset Protection: Protecting Your Profit in a Digital Age."

2019 National Retail Security Survey Finds Increase in Shrink

Theft, fraud, and losses from other retail “shrink” totaled $50.6 billion in 2018, up from $46.8 billion the year before.
security camera, retail theft control

Combating Retail Shrink with AI: Two Case Studies

Whether you are an AI skeptic or an enthusiast, these real-life scenarios illustrate the impact of AI and IoT and demonstrate ways for the retail industry to reimagine their loss prevention strategies with advanced technologies.

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