Riskified’s Post

One hundred billion dollars is lost every year (due to shrink), according to the National Retail Federation (NRF). We explored the changing nature of theft — and what can be done about it — at #SXSW with Christie Fleischer, CEO of Benefit Cosmetics, and David Johnston, Vice President of Asset Protection & Retail Operations at the NRF. Our three biggest takeaways: 🛍️ Retail is about the people. 🛍️ We can’t take the fun out of shopping in-store. 🛍️ Retail theft has changed dramatically, and retailers’ response needs to shift with it. For an inside view into what is happening at the store-level and more broadly in the #retail industry, read more here: https://lnkd.in/g5RqvwBU #physicalsecurity #retailcrime

⚠️ Jewellers! Valentine day is 2 days away! ⚠️ With Shrink and Theft at an all time high, how are you combatting the issue and protecting your assets? Like most jewellery retailers, Daniel’s Jewellers had a camera system installed to ensure the protection of its stores, customers, and staff. However, the technology was outdated and failed to provide instant access to more remote environments, especially following incidents of theft or vandalism. They made the switch to RetailNext's Asset Protection solution ensuring security guards are aware at their posts, high definition imagery for incidents and examining incident reports with high definition video reducing the investigation times significantly. Here's the case study: https://lnkd.in/gvZKD2Uv I'm happy to connect if you feel as though this resonates with you. RetailNext #retailanalytics #data #marketing #assetprotection #lossprevention

Is facial recognition in retail a good idea ? This month, Glynn Davis and Matthew Valentine go head-to-head on this controversial topic. 📸⚖️ Is it a game-changer for customer service and security, or an invasion of privacy with potential for discrimination? 🤔 Read the full clash of perspectives in this edition of "Retail Face-Off" and join the conversation! 📖👇

According to the British Retail Consortium, 16.7 million incidents of shoplifting were reported in 2023, almost twice the reported rate from 2022. SelectaDNA offers a range of solutions to protect retail premises, and help to make staff and customers feel secure. These proven solutions can help reduce crime in stores, whilst retaining that essential customer experience. SelectaDNA is the ultimate deterrent against theft, loss, shrinkage, robbery and personal attacks. To find out more about SelectaDNA's solutions, click here: https://bit.ly/48eNS4t #SelectaDNA #ForensicMarking #ProtectYourAssets #ThievesBeware #Retail #Retailer #Retailers #RetailCrime #CrimePrevention #CrimeReduction #AssetMarking

🔍 Fact Check: Did you know that ORC costs retailers billions annually? These sophisticated criminal networks target stores, using cunning tactics to steal merchandise for resale on the black market. It's not just shoplifting – it's a highly organized operation impacting businesses of all sizes. Trust Blue Star Security to implement robust security measures and conduct thorough ORC investigations to protect your bottom line. Our expert team is here to ensure that you can focus on what you do best – running a successful and thriving business. https://lnkd.in/gyn6cyQM . . . #BlueStarSecurity #OrganizedRetailCrimeInvestigations #ORC #RetailSecurity #ProtectYourBusiness #Retailers #RetailSecurityServices

An interesting paper on #retailcrime by Thruvision. Protecting profits is vital for Retailers, and loss prevention is top of mind for retail management teams. The National Retail Federation estimates that retail shrink is a $94.5 billion global problem. Internal theft is second only to shoplifting when it comes to shrinkage or losses. GLORY solutions help secure cash in your stores, reducing manual cash processing - to reduce internal theft and human error.

Essential insights into the state of retail crime, including organized retail crime, and retailers' loss prevention and asset protection strategies. In 2022, the retail landscape was nothing short of a rollercoaster, witnessing staggering losses that skyrocketed to over $112 billion—a significant leap from $93.9 billion in 2021.

Retail Shrink and ORC The monthly “Retail Shrink and ORC” series from Coresight Research keeps you up-to-date with developments on organized retail crime (ORC) from around the world and recent earnings commentary on retail shrink from major retailers based in Canada, Europe and the US. Highlights from this month’s report include: • Proprietary survey data on US consumers' perceptions of and responses to shoplifting and retailers’ theft-prevention measures  • Recently reported police-recorded shoplifting rates in England and Wales Explore the latest in ORC to equip your business with the strategies needed to mitigate theft: https://lnkd.in/g98Eiv9G #RetailTheft #RetailCrime #ORC #RetailShrink

Loss Prevention continues to be a focus for our retail clients across the UK & Europe. The below video showcases how we are supporting retailers to combat this. Our team are ready to tackle the highest hit areas of your stores, to protect your profits. Reach out to me at toby.ball@harrisonretail.com to discuss your current challenges. #lossprevention #retail #grocery

Retailers are facing a lot of challenges when it comes to shrink these days, with a lot of focus going to ORC and shoplifting. But there’s another growing problem gaining attention: Return fraud. While it’s not a new issue, a recent report by the National Retail Federation found that return fraud cost retailers $101.91 billion last year – an increase of 20% year over year.  At NRF Big Show, Saks Fifth Avenue CEO Marc Metrick said that fraudulent “merchandise not received” complaints at their company have more than doubled over the past several years. Even the New York Times is reporting on the phenomenon, after a number of viral TikToks raised awareness of the issue.  Return fraud and refund abuse is a major challenge for retailers in 2024 – and isn’t a simple one-solution problem to solve.  Is your company concerned about the growth in return fraud?   #retail #returns #refunds #fraud #lossprevention