Nearly 23 percent of surveyed retailers report overall inventory shrink increasing to 2 percent or more of sales, while 65 percent of retailers expect LP budgets to remain flat or even to decrease, according to findings from the National Retail Federation’s 2017 National Retail Security Survey. This comes at a Read More
Tag: shrink loss
If organized retail crime (ORC) continues to plague retailers as recent studies indicate, why are some retailers cutting their ORC investigative staff and seemingly losing their focus on preventing store loses and protecting their store associates and customers?
In the January-February 2018 issue of LP Magazine, author Garett Seivold penned the Read More
Loss prevention departments have, for some time, successfully examined risk flags within point-of-sale (POS) transactions to identify exceptions that may indicate theft or loss. These risk flags, many of which decrease potential revenue, are increasingly categorized as SRAs or sales reducing activities. Today, monitoring SRAs to drive shrink reduction is Read More
Retail shrinkage stems from a handful of causes that are rarely unique to a single retailer. Theft, whether internal or external, and operational error make up the majority of retail shrinkage. The level of severity is usually the primary difference; this can fluctuate due to product type, geography, and store Read More
Here we are at the third and final installment of the first fifteen years of Loss Prevention magazine. I had indicated in the first two articles that part of the third article would include a future look at some of the most important loss prevention technologies and practices such as Read More
According to the recently published 2016 Retail Holiday Season Global Forecast, retailers will experience both the heaviest sales volumes and the weakest performances (specific to margin rate) during this holiday season. As such, the National Retail Federation (NRF) predicts retail sales in November and December (excluding autos, gas, and restaurants) Read More
By Dave DiSilva
Criminals use many online venues to sell stolen merchandise. eBay strives to be the Internet industry leader in online fraud investigations in the effort to combat occurrences through our Global Asset Protection team that effectively partners with over 300 retailers to proactively identify and remove stolen property listed on our Read More
Sponsored by InstaKey Security Systems
It is essential for retailers to have an effective key control system in place at their stores. This will help standardize security of the facility, assist with improving key holder accountability, and aim to reduce shrink loss opportunities.
Below are five essential key control cornerstones any retailer Read More
In order to effectively manage retail shrink, loss prevention strategies must be applied differently according to the specific needs of the retail model. This article focuses on applying the concepts of a target store programs in the specialty retail environment and the need to remain flexible and adaptable in our Read More
By Jim Taylor
In the summer of 1969, Dan Evins came up with his old country store idea while driving his family down to the Atlanta (Georgia) Zoo. The drive from middle Tennessee usually took five hours, and Evins had some time to think…at least until the kids started repeating, “Are we there yet?” As a Shell Read More