Retailers make big strides in 2010
YARMOUTH, Maine—The economy in the beginning of 2010 was still having a negative impact on retailers and, despite a slight economic recovery, it didn’t appear that retailers were experiencing the same rebound. As a matter of fact, some retailers were reporting “an explosion in theft.” By the end of the year, however, shrink reportedly was down and one study showed that investing in loss prevention paid off big in 2010.
Organized retail crime continued to be a hot topic in 2010. While it still remained a huge issue for retailers, there were some signs that the number of incidents was on the decline. And there were some critical partnerships established in 2010. Despite having a contentious relationship at times, the National Retail Federation and eBay joined forces to tackle ORC. In 2010, there was some major wins for retailers, with the busting of a multi-million dollar ORC ring in Florida. There also was some important legislation that passed the House that could create a task force to investigate and prosecute ORC.
Retailers made a concerted effort to reach out and partner with law enforcement and government agencies such as the FBI to help “connect the dots” and “solve the unsolvable.”
Cargo theft remains a $15 to $30 billion problem for retailers and “the bad guys know the money is rolling up and down the road.” This year saw the launch of a national database and information-sharing system designed to deter and recover stolen cargo.
Retailers also made a push into ‘greentailing’, with Walmart leading the sustainability effort. However, some security folks questioned if this effort to go green could jeopardize loss prevention efforts.
There was some movement toward the use of RFID, with many retailers hoping the cost of the technology will continue to fall in coming months. But, to get the funds needed for such deployments, loss prevention professionals continue to emphasize the importance of making a business case, not just talking LP.
Here are the Top 5 Loss Prevention stories of 2010:
1. As return fraud increases, retailers turn to data to identify anomalies
2. Grocery chain standardizes security at all 515 stores
3. Walmart security department pursues sustainability
5. McDonald's, Saks begin first install of HDCCTV
