An inexplicable rise in organized retail crime during the past couple of years, perhaps due to police passivity, has major retailers looking to upgrade their equipment, technology, policies and procedures, and training for employees to combat loss prevention.
Forter, a fraud prevention company, said that online fraud attacks grew 8.9% in 2016 and early 2017 compared to 2015, a reduction from the 2015 increase when significant fraud moved from point of sale (POS) to online.
Searchlight™ for Retail Software from March Networks and RFID Technology from Zebra Technologies
December 1, 2016
The integration of high-definition surveillance video and data from RFID-tagged items allows enterprise security personnel to quickly search events by data, time, brand, product type, serial number of Electronic Product Code, allowing them to see exactly when and how an item entered or left a location.
Retail loss prevention faces numerous challenges in a changing and dynamic retail environment.
September 1, 2016
Several years ago, an organized shoplifting ring near Buffalo, New York, stole millions of dollars in merchandise from big box stores such as Walmart, Sears, Home Depot, JoAnn Fabrics, Tops and Wegmans.
Embezzlement is not just a problem for large enterprises – businesses with fewer than 150 employees were 10 times more likely to be victimized by fraud than those with 250-500 employees, according to the 2016 Hiscox Embezzlement Study.
Inventory loss through shoplifting or internal theft, unsuccessful in-store promotions, even long lines at the register – all of these are pain points for retailers and can seriously impact the bottom line.