MAY2024
Managing Editor: John Mathews
Senior Writer: Stephanie Kreml
Writers: Mary Alison, Allison Gillchrist,
Kim Langdon Cull, Connie Yerbic, Elena Borrelli
Magazine Designer : Michelle Wong
Digital Publishing Director: John Louis
Advertising: David Miller
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All rights reserved. No part of this publication may be reproduced in any form or by any means, electronic, photocopying or otherwise, without prior permission of the publisher and copyright owner. While every effort has been made to ensure the accuracy of this publication, the publisher accepts no responsibility for errors or omissions. The products and services advertised are those of individual authors and are not necessarily endorsed by or connected with the publisher. The opinions expressed in the articles within this publication are those of individual authors and not necessarily those of the publisher.
In an industry with razor-thin margins and constant profitability challenges, the alarming rise in retail shrinkage over the past five years has captured the urgent attention of retail executives and stakeholders. Losses due to shrink have more than doubled, highlighting a critical vulnerability in retail operations.
Despite awareness of this issue, many retailers struggle to devise comprehensive strategies to regain control. The lack of clear, data-driven approaches to understanding and addressing the root causes of shrink suggests that these losses will continue to plague the industry at elevated levels.
Experts recommend adopting a data-centric approach to pinpoint where losses occur, enabling targeted and effective mitigation techniques. Each retail brand’s unique product offerings, geographic presence, market dynamics, operational systems, and data landscapes mean that the causes of shrink vary widely. Tailored solutions are essential for addressing these challenges effectively without disrupting the customer experience or incurring unnecessary costs.
In this edition, we explore fortified retail security strategies designed to combat these ever-evolving threats. Experts in both physical and digital security share their insights, offering comprehensive approaches to tackle retail loss. Readers will gain valuable knowledge on enterprise security risk programs and learn how to implement these initiatives across their organizations.
Our contributors provide a blend of best practices and innovative solutions to key challenges, allowing retailers to benchmark their strategies and discover new ideas to enhance their security measures. As you turn these pages, prepare to gain insights that will help you manage today's issues and anticipate tomorrow's threats.
John Mathews
Strengthening Retail Security and Loss Prevention