Consumer Loss Prevention Shrinkage 
Independent Retailer
JULY 8, 2021
According to the 2020 National Retail Security Survey , retail theft, or shrinkage, is at an all-time high. In fact, in 2019, shrinkage accounted for an average rate of two percent of inventory, calculated at retail, costing the industry a record $62 billion. Patrick Chown is the owner and president of Safe and Sound Security.
Independent Retailer
JULY 8, 2021
According to the 2020 National Retail Security Survey , retail theft, or shrinkage, is at an all-time high. In fact, in 2019, shrinkage accounted for an average rate of two percent of inventory, calculated at retail, costing the industry a record $62 billion. Patrick Chown is the owner and president of Safe and Sound Security.
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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 has been an increased use of data in a way that is not as transparent to consumers [as they would like],” Kafouris told Inside Retail. Most customer’s “uncomfortable” with surveillance .
Retail Focus
AUGUST 8, 2023
Payroll Processing Handling payroll intricacies can be time-consuming and complex for retailers. Security and Loss Prevention Ensuring the security of your retail store and merchandise is paramount. Outsourcing accounting and bookkeeping tasks to professionals can help you keep track of expenses, revenues, and taxes efficiently.
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 The everyday consumer experience will drastically change with less stock readily available to be viewed on the showroom floor,” he concluded.
Mass Relators
DECEMBER 12, 2022
The newfound willingness of executives to publicly discuss retail crime and its impact on consumers is a welcome development. 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.” billion, compared to $90.8
Wiser
FEBRUARY 29, 2024
Panelists highlighted the frustration with labor scarcity in an environment where consumer demands and expectations are constantly evolving. With so many tasks and not enough hands, businesses are turning to third-party services to fill the gap, often leading to additional costs and higher prices for consumers.
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