In an ultra-competitive retail environment, stores fight tooth and nail to increase top-line revenues, yet many continue to see profit margins grow razor thin – and that’s if positive and profitable at all. To make matter worse, stores face one major obstacle to profits that their online brethren don’t worry nearly so much about – theft.
Retail shrinkage is big business, to the tune of $42 billion annually for U.S. retailers, and the leading cause of shrink is theft – from both dishonest employees and from external threats like shoplifters and organized retail crime (ORC) activities. Coupled with internal administrative/operational errors and supplier/vendor fraud, retail shrink represents nearly 1.5 percent of sales.
But, retailers are fighting back. No longer banished to darkened back rooms, Loss Prevention is a key retail function, fully integrated into leading retailer’s strategic decision-making teams. Tasked with more responsibility but often with tight resource constraints, effective Loss Prevention has never been as important to a retailer’s financial success.
In the July 28, 11:00 am webinar, “Increasing Retail Bottom Lines with Effective Loss Prevention,” facilitator LP Consulting Engineer Ankur Garg and participants will discuss the current state-of-the-art in Loss Prevention tools and processes, including:
- Advanced Video Management
- POS Exception Reporting
- Asset Protection
- Security Events
- and more
Make plans to join the discussion – register today for the July 28th webinar.
For the latest retail news and discussion threads, follow @RetailNext on Twitter and visit www.facebook.com/retailnext.