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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.
Retailers also need a post-incident management game plan for when the waters recede and the immediate threat is squelched. Is your retail organization ready for the “Then what?”
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.
There is no universal secret to professional development success. Still, there tend to be commonalities among LP leaders who gain recognition within their organizations. And they’re not always what you’d expect.
These tips may help you to assess the completeness of a project’s cost estimate, either when conducting your own estimate or evaluating the sufficiency of an estimate developed by a consultant or integrator.
In one experiment, Barry Manilow music was broadcast through loudspeakers located in a local parking lot every night between 9 pm and midnight on Friday, Saturday, and Sunday.
Organized retail crime methods are a part of the retail marketplace, and they operate under the same basic principles as retailers. There is an opportunity to make a profit by supplying a demand, so various ORC players take it upon themselves to become the suppliers.
As loss prevention professionals in retail businesses that serve this demographic en masse (i.e. QSR, c-store, big box, etc.) know all too well, cash is still a prominent form of payment.
A growing body of research links loss prevention staff attitudes to the training they receive. How else should managers handle negativity in the workplace?