New research highlights the relationship between effective operating practices and shrink, providing insights for loss prevention.
The return of stolen merchandise and used non-defective merchandise, including special occasion apparel and certain electronics, continues to pose a huge problem for online retailers and brick and mortars alike. These all too common types of return fraud cost American retailers $14.4 billion in 2011, according to the National Retail Federation, up from $9.4 billion […]
According to the most recent National Retail Security Survey, shrink climbed to 1.58 percent of retail sales in 2010, up from 1.44 percent in 2009. The study showed the extent to which retail losses hammered away at profitability, costing retailers $37.1 billion in 2010, up from $33.5 billion in 2009. To LP professionals, shrink conjures […]
As new technologies evolve in the retail marketplace, retailers and consumers alike must adjust to new ideas and opportunities that have the potential to change the way we do business. On the horizon, many retailers are preparing for the advent of new payment options. Mobile payments are evolving rapidly, and in the coming years are […]
New technologies will come and go, opening new windows of opportunity for theft, fraud and loss.
While not classified as shrink, hidden losses are just as detrimental to the retailer’s bottom line as theft.
Procedural review audits (PRAs) are an effective tool for systematically combating return fraud.
PRAs enable management to measure consistency, and pinpoint loss prevention challenges.
Although more compact in size than an in-line store, with less inventory to track, kiosks continue to fall victim to shoplifting.
Loss prevention professionals conduct critical activities on a daily basis including emergency planning and preparedness.