Retail Systems Research recently published an interesting report, “Loss Prevention 2010: Retailers Battling Shrink in Tough Times.” This report concludes: “…keeping Loss Prevention up‐to‐date and shrink under control requires a continuous commitment with constant improvements. With difficult economic conditions, high unemployment and technology advances, thieves aren’t going anywhere; they are only more desperate AND sophisticated.”
This generates a question: if shrink is increasing and revenue is decreasing- both because of a poor economy- how can we constantly improve our loss reduction efforts without increasing our loss prevention expenses?
Please tell us your ideas in our LinkedIn group.
The Inside View is a blog chronicling Iverify’s thought-provoking perspective on business, technology and the security industry.