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Smash-and-Grab Is Only One Part of a Retailer’s Loss Prevention Story

Retail TouchPoints

Yet despite the growing frequency of ORC, retailers would be remiss to focus their loss prevention efforts solely on these brazen, smash-and-grab scenarios. In fact, according to the 2023 National Retail Security Survey conducted by NRF, Appriss Retail and the Loss Prevention Research Council, 68.8% Similarly, 57.8%

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Newmine Helps Retailers Understand and Correct the ‘Why’ of Returns

Retail TouchPoints

Newmine aims to help retailers analyze sales and returns through its Chief Returns Officer platform in order to become better informed about customer actions. The AI- and natural language processing-powered software was designed to determine the root cause of returns upstream, from planning, design and marketing to customer delivery.

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Federal Policies, AI and Supporting Law Enforcement: Retailers Fight Back Against ORC

Retail TouchPoints

billion in losses, up from $93.9 billion in 2021, according to a retail security report from the National Retail Federation (NRF) and the Loss Prevention Research Council (LPRC). Retailers and their loss prevention teams can’t tackle the problem alone. In 2022, shrink caused retailers $112.1

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Turn Your Store Associates into Superheroes with These Four POS Capabilities

Retail TouchPoints

And process returns of stuff people don’t want! Follow evolving protocols as they relate to loss prevention. . — the fulfillment scenarios really are endless. And don’t forget that they need to sell stuff! They likely need to host events, too, since store events are all the rage. Keep the stores tidy. Personalize the experience.

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Loss Prevention & Fraud Detection in Retail

Cisco Retail

Most retailers attribute 50-60% of losses to associate actions. Increasingly, Organized Retail Crime (ORC) and Cybercrime rank at the top of the list of Loss Prevention (LP) concerns, along with associate fraud and returns fraud. Shrinkage means the retailer has less physical inventory than their system reflects.

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How retailers can combat shrink and create an enjoyable shopping experience

Inside Retail

The result is costing retailers billions in stock loss each year. The FoxTag is a revolutionary loss prevention system that empowers retailers to take back control. With over two decades experience working with retailers, Vitag is a leading supplier of loss prevention solutions for the Australian and New Zealand retail industry.

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Organized Retail Crime is on the Rise, but AI Can Stop This Troublesome Trend

Retail TouchPoints

Common examples of ORC include when merchandise is stolen and returned for profit or sold through online auctions or in-person sales. For example, one delivery address can be the source of 20 online returns across 20 different names, email addresses and credit cards. Organized retail crime is a growing problem.