Loss Prevention Means an Improved Bottom Line
Organized retail crime rings invade every level of the supply chain – skimming from manufacturing plants, raiding storage facilities, stealing transport trucks and shoplifting from stores. At the retail level, thieves exploit vulnerabilities in store security and stuff their pockets with your profit, leeching $25 billion from North American retailers each year.
Loss Prevention – Is it Inside Out or Outside In?
A good defense against theft is knowledge of current shoplifting and theft trends, both internally and externally. Studies have shown that in Canada and the United States, as many as 1 in 12 customers are shoplifters and they commit an average of 50 thefts before being caught. That’s if they are caught at all. It is estimated that only 10% to 15% are apprehended. Don’t let them get away with it!
Loss Action for Merchants
The main focus of Loss Prevention is to protect the assets of the company and ensure the safety of all associates.
- • In Canada, $10 billion is lost annually to theft, shoplifting, robbery and burglary, resulting in 30% of all business failures
- • An estimated 70% to 80% of losses are the result of internal cash and inventory shortages
- • Customers steal almost $6 million per day
- • Employees steal almost $3 million per day in the retail industry