A new study reveals there is a lot retailers can do to boost future revenue by more effectively managing online purchase returns and fraud detection processes.
“Retail is never boring, and that’s a good thing,” says Michael Case, Director of Loss Prevention for Art Van Furniture Inc., an American furniture retail store chain.
According to the 2017 Debit Issuer Study, U.S. financial institutions substantially increased issuance of chip debit cards in 2016 and experienced reduced fraud losses.
Thefts from retailers and other inventory “shrink” grew to $48.9 billion in 2016 from $45.2 billion the year before even as budget constraints left retail security budgets flat or declining.
More than 438,000 shoplifters and dishonest employees were apprehended in 2016 by just 23 large retailers who recovered more than $120 million from these thieves, according to the 29th Annual Retail Theft Survey by Jack L. Hayes International.
Wal-Mart is testing an app that matches online order delivery addresses with its employees' driving routes home so the workers can deliver packages ordered online as they drive home.
For ABC Fine Wine & Spirits in Florida, the path to data breach preparedness began with the realization that great customer service extends to customers’ data.
If a data breach can happen to Home Depot and Target, it can happen to us,” says Lee Bailey, Director of IT Security and Operations for ABC Fine Wine & Spirits, a mid-sized business in Florida with 140 locations and around 1,000 employees.