describe the image

Retail Bill of Rights: A Law Loss Prevention Can Live With

Posted on 1/20/15 12:20 PM

If you’re a “formula retailer” in San Francisco (defined as 11 plus stores), you have probably heard of the passage of the Retail Bill of Rights. You can read more here, but in short, the law requires a number of things related to employee hours and pay, including predictable work schedules, better schedule notices, less “on-call” abuse, minimum shift hours, and access to additional hours. There is little doubt that some of these changes will come with a greater financial burden to retailers, but the trade off may be lower shrink.

Whether it is direct cause or simply reflective of the changing dynamics of retail, we know from the statistics provided by the National Retail Security Study (NRSS), or the University of Florida Report, as it is often called, that there is a correlation between the percentage of part-time workers and shrink results. As one would anticipate, the more part-timers making up a company’s workforce, the higher their shrink tends to be. It is not that the presence of part timers causes shrink, but rather three key elements that are pervasive in a part time work force.

Read More

Topics: Retail

Profits: Lost in the Surge

Posted on 1/13/15 12:49 PM

 

There is an old saying, “It’s not over til it’s over.” The holiday sales surge is a good time to keep that tenet in mind. 

If you are a sports fan, you may recall a celebratory disaster that involved Leon Lett a Dallas Cowboy’s defensive lineman. Mr Lett had the good fortune and skill to recover a fumble by the Buffalo Bills during the fourth quarter of Super Bowl XXVII. Ball in hand he took off for the end zone, another touchdown for the Dallas Cowboys almost guaranteed.

At about the ten yard line, however, Mr. Lett began his premature celebration, the football held out in one hand as he prepared his theatrical victory dance in the end zone. To his shock, dismay, and embarrassment, Buffalo Bill’s player, Don Beebe had chased him down and Beebe stripped the ball from Lett’s outstretched hand before he crossed the goal line. Celebration Canceled.

Read More

Topics: loss prevention, policies and procedures, educate, Holiday Tips, customer service, Gift Card Fraud, Refund Fraud

Gearing Up For Success in the New Year

Posted on 1/6/15 11:36 AM

January inspires most professionals to make new plans and set new goals. There is an almost magic influx of motivation when we cross that arbitrary line of delineation between the old and the new year.  At LPI, we’re no different and we are busy planning and executing on all of the great possibilities that a new year and a fresh start can offer.

But like many industries, loss prevention is a game of numbers.

The most important numbers are those that indicate the success of our loss prevention programs. Numbers like shrink decrease, margin increase, apprehensions, admissions, and audit scores, all serve to either tell the tale of our success or to indicate places for improvement. 

Of course, as the saying goes, you miss 100% of the shots you don’t take which means if you aren’t implementing specific objectives and setting specific goals, you won’t have any measurement to gauge your 2015 success. 

And goal setting is only half of the equation. Knowing your target is good, but having a plan to get there is of equal importance. So to help you re-establish your 2015 business plans and objectives, LPI is offering you this helpful 8 Step Annual LP Planner outline to ensure all the loss prevention basic best-practices are included in your plans. 

Authored by: Ray Esposito

   

  

 

 

 

 

 

 

Read More

Topics: budget & ROI, loss prevention, employee awareness, educate

Ringing in the New Year!

Posted on 12/31/14 10:00 AM

We hope everyone is enjoying the holiday season and is looking forward to 2015! From everyone here at LPI, we wish you a very Happy New Year!!

Read More

Rewind 2014 Is Here!

Posted on 12/16/14 11:05 AM

A Look Back on Loss Prevention in 2014

With just eleven selling days left in this holiday season, we figured that there might be less time or energy for absorbing new ideas. So this week we are providing a recap and links to some of this year’s favorite blog topics.

Read More

Topics: policies and procedures, Loss Prevention program and development, Audits and Investigations

Just in Time for the Holiday Season

Posted on 12/9/14 9:27 AM

During the holiday season, it is a common misconception that your company's loss prevention program has to be greatly altered; in fact, it only requires a few "extras" to make certain that everyone is a little more aware and prepared to prevent potential loss.

Read More

Topics: Holiday Tips

Give Thanks

Posted on 11/26/14 12:50 PM

Thanksgiving is a day when family and friends gather together to break bread and give thanks for the blessing of the harvest of the preceding year. LPI wishes you and your families a safe, happy and healthy Thanksgiving holiday. We are thankful for friends and followers like you.

Read More

Topics: LP Innovations

Multi-Tasking… is it a good thing or a bad thing?

Posted on 11/20/14 10:20 AM

Recently I attended a webinar offering tips on how to perform a certain task better.  The main tip was to make sure to be completely focused on the task and reduce all possible distractions during the time you are performing it.  The presenter mentioned that when someone states that ‘multi-tasking’ is one of their strengths, she is not impressed.

Read More

Topics: career development

Denial: A Cure for Crime and Everything that Ails You

Posted on 11/13/14 12:38 PM

A man walks into the doctor’s office and the doctor inquires, “what’s the problem?”

“It’s my arm, doc. It hurts when I move it.”

The doctor considers the issue for a moment and then responds, “well don’t move it.”

Read More

Topics: loss prevention, Retail, Victim

How Bluetracs is Changing the ORC Game

Posted on 11/4/14 10:30 AM

“Back in the day” I was standing in a Marshalls store watching the installation of an EAS system. I remember the excitement and the potential it represented. Finally, a device that could watch shoplifters since we couldn’t watch them all. It was a game changer and within the first few weeks we were racking up the apprehensions—kids, moms, doctors. The missing link appeared shortly after with the arrival of the “soft” tag. Now everything and anything could be tagged and protected. It was a great mouse trap…until the mice got smarter.

Read More

Topics: loss prevention, BlueTracs, Shoplifting, ORC, Organized Retail Crime, Tracking

Join our email list!