Loss prevention has entered the digital age. Some of the latest advancements to stop shoplifters are security cameras that can be monitored from a cell phone or home office, specialty tags to stop shoppers from buying garments with the intent of wearing them once and returning them, and tags that beep if a pin is tampered with, a lanyard is cut, or the thief tries to grab an item and run.
The question no retailer ever wants to ask is what to do when someone is stealing from the company internally
In this podcast, listen as Andrew Wren describes some ways that retailers can walk the fine line between loss prevention and customer service.
Halting the ripple effect of losses reverberating throughout the retail organization requires consistent implementation of processes, as well as quick and complete follow-up.
Only one in 48 people who shoplift are caught, according to the National Retail Federation. And a report by AOL’s Daily Finance shows more than half of 200 retail survey respondents said so-called organized shoplifting by two or more people has increased sharply, while 41 percent said shoplifting by individuals was also […]
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 […]
It is said that, “What you can’t see won’t hurt you.” But in retail, nothing could be further from the truth. While loss prevention (LP) professionals are usually very focused on highly visible causes of loss, such as shoplifting, organized retail crime and administrative error, they also must consider hidden losses that occur without being […]
The most common type of return fraud is return of stolen merchandise. Wardrobing, the return of used non-defective merchandise, like special occasion apparel and certain electronics, also poses a huge problem, as more than six in 10 retailers (61.4 percent) say they have been victims of this activity within the past year. Yet according to […]
Beyond petty shoplifters, organized gangs have made shoplifting more of a national problem.
Although more compact in size than an in-line store, with less inventory to track, kiosks continue to fall victim to shoplifting.