Retail Focus

JUNE 10, 2024

While perhaps not the nicest of subjects to talk about, loss prevention is one of the most important topics when it comes to retail environments. So, what else can retailers do to combat loss prevention? However, thieves are becoming savvier and continue to bypass existing measures to get out the store without paying.

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Loss Prevention Shrinkage Point of Sale Shopping 147

Retail TouchPoints

NOVEMBER 7, 2023

But without the data to link the individuals involved in the ORC ring, retailers may continue to suffer tremendous loss and shrink every year. The same retail security survey from NRF found that most retailers experience a shrinkage rate of around 1.4%, which is most often attributed to shoplifting, employee theft and ORC.

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Loss Prevention Shrinkage Returns Payment Services 297

Inside Retail

MAY 25, 2023

Factoring in the roughly US$700 million of inventory shrinkage that occurred in 2022, mainly attributed to retail crime, the company is on track to lose up to a total of US$1.2 billion due to organised retail crime over the past two years alone. It’s the best move they can make,” he noted.

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Shrinkage Loss Prevention Location Planning 130

Inside Retail

JUNE 28, 2022

The software is used to gather evidence on repeat offenders, and is largely used to prevent theft and shrinkage. There’s the argument that the stores are using [facial recognition] for loss prevention, and to improve their ability to identify those that are engaging in criminal behaviour or theft.

Consumer 130

Consumer Payment Services Shrinkage Loss Prevention 130

Mass Relators

DECEMBER 12, 2022

Fueled by a surge in organized retail crime, shrinkage costs the industry almost $100 billion a year, according to National Retail Federation’s “2022 Retail Security Survey.” The study, conducted with the Loss Prevention Research Council, found that the average shrink rate in 2021 was 1.4%, resulting in losses of $94.5

Shrinkage 52

Shrinkage Loss Prevention Consumer Shopping 52

Mass Relators

OCTOBER 25, 2023

According to the National Retail Federation (NRF), retailers lost $112 billion due to shrink in 2022, up from nearly $94 billion in 2021. The Zebra study indicates 36% of retailers believe better analytics on shrink could help drive profitability.

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Checkout Payment Services Returns Shrinkage 52