Mais conteúdo relacionado Semelhante a 7490 ra-retail-loss-prevention (20) 7490 ra-retail-loss-prevention1. The State of Loss Prevention in Retail
Controlling Losses and Maximizing Profits
April 2012
Deena M. Amato-McCoy
~ Underwritten, in Part, by ~
2. April 2012
The State of Loss Prevention in Retail:
Controlling Losses and Maximizing Profits
Retailers are eager to combat loss across their enterprises. However, many Analyst Insight
retailers are learning that relying on historical data will not keep them one Aberdeen’s Insights provide the
step ahead of recurring shrink. Companies understand that Loss Prevention analyst's perspective on the
(LP) technology solutions are a mission-critical cost to doing business in the research as drawn from an
21st century. Retailers need to link existing loss prevention tools and aggregated view of research
strategies to intelligent solutions such as: analytics platforms, Electronic surveys, interviews, and
Article Surveillance (EAS) solutions and Radio Frequency Identification data analysis
(RFID) technology, to gain real-time – or near-real-time – access to
information and transition these losses back into profit.
Data from Aberdeen's December 2007 benchmark report Real-Time Loss
Prevention: Changing the Game in Store Fraud, indicated that 81% of Best-in-
Class retailers conducted historical theft analysis at the headquarter-level.
While the LP department must champion and manage all shrink-fighting
strategies, those with access solely into historical data are clearly at a
disadvantage. Retailers that use LP risk management strategies, supported by
intelligent solutions, will reduce fraud-related and operational losses.
Sustained use of these processes by retailers will ultimately enhance profit,
customer satisfaction, and employee and customer safety. Aberdeen
surveyed 52 retailers in March 2012 to understand the current pain points
and strategies that are shaping LP strategies, and prompting the use of more
intelligent solutions.
The 21st Century Loss Paradigm: A Loss of Profit
While retailers are used to exclusively focusing on the shrink caused by
internal and external issues, new business issues have transformed loss to
take on a new meaning. Areas such as organized retail crime, as well as the
impact of several other factors (including data-related losses; online fraud;
returns fraud; poor management of product movement across complex
supply chains; intricate promotions applied at point-of-sale; monitoring
lifecycles of perishables, and measuring raw materials and demand of finished
products across fresh departments) are all contributing to enterprise losses.
A mere four years ago, 70% of 254 specialty retailers indicated that high-
value merchandise and fraudulent point-of-sale transactions were their
highest shrink-related risks, according to Aberdeen’s report, Effective Loss
Prevention Methods: The Specialty Retail Story. Fast-forward to 2012, the top
complexity for retailers is data-related. Data in Figure 1 indicates that over a
third (35%) of retailers reported that they lack credible data to forecast loss
events, these losses are only bound to increase, further burdening already-
This document is the result of primary research performed by Aberdeen Group. Aberdeen Group's methodologies provide for objective fact-based research and
represent the best analysis available at the time of publication. Unless otherwise noted, the entire contents of this publication are copyrighted by Aberdeen Group, Inc.
and may not be reproduced, distributed, archived, or transmitted in any form or by any means without prior written consent by Aberdeen Group, Inc.
3. The State of Loss Prevention in Retail:
Controlling Losses and Maximizing Profits
Page 2
squeezed operating margins. The definition of loss reaches far beyond
incidents caused by dishonest people, missing merchandise or vulnerabilities
across networks. Thus, retailers should begin to define loss as an inability to
sustain profit. The cause of this unintentional loss is often due to
operational inefficiencies happening at the store-level on a daily basis. The
only way to pinpoint where these losses reside, and which operations
should be redefined, is through analytics.
Secondly, a sluggish economy has forced all companies to learn to do "more
with less," so it is not surprising that one of the top pressures impacting
30% of retailers is how slashed budgets are forcing them to work with less "Currently, we have
resources, both staff- and technology-wise (Figure 1). Meanwhile, a lack of exception based reporting to
help identify possible
visibility into store-level activities (24%) and complexities at specific store
scenarios where associate or
locations (20%) are adding more pressure, all of which can contribute to a customer fraud might occur
lack of resolution among existing loss prevention incidents. for individual analysts to
research. As we are made
Combine these factors with retailers’ squeezed margins, as well as new
aware of fraud events that
factors, including the proliferation of omni-channel retailing and emerging
occur related to internal- or
technology paradigms like mobility, and the prospect of fraud and external-theft, we examine
merchandise losses are more far-reaching than ever. Our data shows that the exception-based reporting
13% of retailers report that their LP cases have increased by 10% or more to determine if it was
enterprise-wide, impacting the way that retailers are approaching how they sufficient to quickly identify
combat, and even define, loss. the scenario or if
modifications are required to
Figure 1: Business Pressures prevent future loss. We have
been moderately successful in
capturing fraudulent activities
Lack of credible data to forecast loss based on this reporting and
35%
prevention events move fairly quickly to
resolution."
Budget reductions / lack of resources 30%
~Regional Manager, Large
North American Consumer
Lack of visibility of store-level activity 24% Electronics Company
Store location demographic
20%
complexities
Lack of resolution in a majority of loss
17%
prevention incidents
0% 10% 20% 30% 40%
Percent of Respondents n=52
Source: Aberdeen Group, March 2012
Strategic Actions to Overcome the Obstacles: A New
Take on LP
These pressures should be a wake-up call for retailers. It is time for
companies to take a step back and create a new formula of profit
optimization. Retailers must move away from solutions solely focused on
fighting the traditional definition of loss, and toward solutions and processes
© 2012 Aberdeen Group. Telephone: 617 854 5200
www.aberdeen.com Fax: 617 723 7897
4. The State of Loss Prevention in Retail:
Controlling Losses and Maximizing Profits
Page 3
that can improve operational efficiencies and recover profits. Retailers have
taken strategic actions, including the adoption of video intelligence to
"Through addressing
reduce the number of internal and external theft incidents (28%), the use of
inventory accuracy concerns
EAS and source tagging to deter shoplifting (26%), and exception-based and strengthening in-store
reporting to improve fraud management (26%). However, the success of accountability of goods, we
each of these strategic actions hinges on the integration of intelligent have managed to reduce our
solutions that can provide insight into areas of loss from a historical as well loss (as a percentage to sales)
as real-time perspective. from 4% two years ago to
0.26% currently. There was
Without the proper tools or a LP analytical foundation, this is impossible. In also an intensive immersion in
fact, 35% of companies lack the credible data needed to forecast loss terms of inventory movement
prevention events, and another 24% lack visibility and understanding of for in-store personnel for
store-level activities or events. By adding more robust and integrated loss better appreciation of a loss
prevention processes and applications, retailers will gain a handle on loss, prevention mindset, so
and by staying one step ahead and forecasting incidents, retailers will learn despite not having
that a majority of their shrink is actually controllable. Sensormatics and security
guards, they (the in-store
The first step to any loss prevention strategy is to get a company's personnel) monitor, track,
centralized loss department involved. While 16% of companies find it and implement loss
beneficial to deploy loss prevention teams at every store, 40% of retailers prevention strategies to
are allocating regional loss prevention managers who are responsible for ensure minimal losses due to
activities across several stores. shoplifting incidents."
~Stephanie Ranada, Supply
More specifically, 53% of retailers have a cross-functional team, comprised
Chain Manager, Mid-Sized
of store operations, sales audit, loss prevention, field marketing, inventory North American Footwear
management and revenue, established to manage LP strategies and decision-
Company
making. Another 17% of retailers plan to create a similar team to ensure its
loss prevention strategies are impacting business operations and protecting
profit. These teams also hold district and regional meetings to ensure they
uphold loss prevention best practices and process management (33%), as
well as enact enterprise-wide loss prevention training (40%).
This all-encompassing centralized LP management strategy is a huge
operational transition from the 29% of retailers that reported they had a
formal in-store LP team responsible for managing day-to-day LP processes,
including training, according to Aberdeen's December 2007 report, Real-
Time Loss Prevention: Changing the Game in Store Fraud. Relying solely on
decentralized teams added even more pressure on these dedicated
employees; all who were tasked with training new employees and
guaranteeing shrink reduction. By augmenting in-store teams with
centralized ones, retailers are clearly making LP training and reducing
enterprise shrink rate a top priority.
Case in Point "Rather than regard loss
Sears Holding Corp., makes it a priority to tap its loss prevention team prevention as an afterthought, we
realize the value of involving the
whenever evaluating or planning new technology. This was exactly the case team in the origin of every
when evaluating the value of adding a mobile strategy at the store-level. concept."
“These devices are creating a consumer-centric shopping experience, but ~ William “Bill” Titus, VP of loss
we are also forced to support this new way of shopping,” said William Titus, prevention, Sears Holding Corp.
© 2012 Aberdeen Group. Telephone: 617 854 5200
www.aberdeen.com Fax: 617 723 7897
5. The State of Loss Prevention in Retail:
Controlling Losses and Maximizing Profits
Page 4
Sears' VP of loss prevention. "Now we must consider their value
proposition.”
During this evaluation, Sears also began exploring the many opportunities "LP has taken on more of a
that mobile devices offer savvy criminals. Among those that the company detective role, reviewing and
had to evaluate included how associates armed with a mobile device would researching transactional
exceptions and follow-up on
efficiently deactivate EAS tags, bag merchandise and produce receipts. In its
unusual trends. It is currently
quest to balance how to use mobility in a way that would add value to the planning to become more
customer experience, Sears could not lose sight of how it would protect proactive, by developing LP
merchandise and sensitive information. strategies and policies/
procedures to help prevent
By bringing in its dedicated LP team's input during its planning sessions,
theft and improve safety."
Sears has created more beneficial IT implementations. With the loss
prevention team involved in early IT discussions, there is less chance of ~Director of Finance, Large
incurring costs due to revising or resolving potential problems. The chain North American Apparel
can anticipate issues during the development of processes and systems, and Company
still keep the integrity of customer-facing solutions.
“We have created a strong partnership that adds value to our operational
and merchandising perspectives,” Titus said. “Rather than regard LP as an
afterthought, we realize the value of involving the team in the origin of every
concept.”
Enablers: The Keys to Unlocking a Successful LP
Strategy
With an established group leading the charge when it comes to LP efforts,
37% of retailers are tapping this group to establish centralized loss
prevention guidelines for data, compliance and training. Establishing policy
and procedures is only the tip of the iceberg, however. To understand how
the enterprise's stores are following these guidelines, there must be enabling
solutions in play that supply event information. While 28% of companies use
EAS tags and source tagging to deter shoplifting (with another 9% of
companies planning to add the technology), savvy retailers are taking this
concept one step further and making a move to more interactive solutions.
Enter the value of RFID tags.
Clearly, retailers continue to turn toward tried-and-true technology
solutions to protect their enterprise. Currently, retailers are combining
traditional LP methods, such as closed-circuit television video surveillance
(49%), and EAS tags (27%) for protection from store-level incidents, as well
as network firewalls (64%) and access control and video to ensure PCI
compliance (27%) for more insulation from online and mobile fraud
incidents.
Unlike EAS tags, which are passive solutions until they come in contact with
a dedicated reader, RFID tags are typically active, giving retailers insight to
ongoing product movement and activities. The smart technology made its
bones in the supply chain, at the pallet-level, to track product movement
across the supply chain. However, the tags open a world of opportunity for
retailers eager to fight shrink not just across the supply chain, but also at the
© 2012 Aberdeen Group. Telephone: 617 854 5200
www.aberdeen.com Fax: 617 723 7897
6. The State of Loss Prevention in Retail:
Controlling Losses and Maximizing Profits
Page 5
store-level. Embedded with a chip that holds characteristics of the
merchandise it is attached to, RFID tags identify the product and the tag's
unique Electronic Product Code (EPC) allows the item-level tracking of
merchandise throughout store, warehouse and extended supply chain. As
tagged merchandise is within the vicinity of dedicated readers, product data
is transmitted to a database, alerting retailers to item movement in real-
time.
While retailers still use the technology in the supply chain at the pallet-level
to track inventory discrepancies, companies in double-digits are ready to
further leverage the power of the solution in the store and Distribution
Centers (DCs) for loss prevention purposes (Figure 3). There are 31% of
retailers that at some level are exploiting the power of RFID specifically at
the store-level, and 23% of companies are leveraging the power and wealth
of data delivered through RFID across their stores and supply chains.
Meanwhile, 14% of retailers successfully use RFID as an intelligent loss
prevention solution, and another 14% of retailers plan to add the
technology within the next 12 to 24 months (Figure 2).
Figure 2: Application of RFID to support Loss Prevention
We use RFID in the supply chain at the
pallet-level to track inventory 23%
discrepancies
We use RFID at the store-level only 31%
We use RFID in both the supply chain
23%
and at store-level
0% 10% 20% 30% 40%
Percent of Respondents n=52
Source: Aberdeen Group, March 2012
Data, Analytics, and RFID Data
While historical data is great place to create a baseline of LP incidents,
historical data only shows past loss events. While retailers can learn from
these incidents, it is more important to understand what is happening now,
so they can forecast the best ways to combat, and stay ahead of shrink.
Thirty-seven percent (37%) of retailers are aware of this trend, and another
33% of companies are creating a plan to utilize results of real-time theft
analysis. Managing the data is just as important as collecting it. As a result,
43% of companies currently use Business Intelligence (BI) exception-based
reporting to make better loss prevention decisions. Another 20% of
© 2012 Aberdeen Group. Telephone: 617 854 5200
www.aberdeen.com Fax: 617 723 7897
7. The State of Loss Prevention in Retail:
Controlling Losses and Maximizing Profits
Page 6
retailers plan to add a BI platform in the near future. Once RFID data is
added to the mix, real-time and predictive analytics takes on a whole new
meaning, thus changing the importance of LP decisions. Currently, a mere
9% of retailers are leveraging the power of RFID loss data to refine their
loss prevention strategies. The good news is more retailers believe in the
powerful information these tags deliver. As such, another 17% of merchants
also plan to add this weapon to their LP arsenal.
With more RFID event data being filtered into centralized databases,
retailers are sitting on a goldmine of information. By using robust analytical
tools to exploit this data, retailers are in a prime position to slash ever-
growing shrink rates and positively transform their loss prevention efforts.
RFID configurations require antennas to be housed overhead in ceilings and
readers on store shelves. As each tag's unique identifier comes in contact
with a reader, retailers gain specific data, including characteristics of
individual items, quantities, and even dollar values. By using analytics to delve
into this robust information, retailers can learn the severity of each incident,
if it is recurring or casual, and take better measures to deter future
incidents. Currently, 60% of retailers already conduct historical theft
analysis, and another 18% plan to follow suit and leverage the technology.
This is not a new trend, as interest in analytics has been building for some
time. In fact, the specialty retail segment continues to satisfy its craving
more access to intelligent reporting tools. For example, Aberdeen’s Effective
Loss Prevention Methods: The Specialty Retail Story reported that 31% of
retailers planned to add video intelligence software by 2010, and 29%
planned to utilize EAS analytics by the same timeframe. Currently, 36% of
retailers are using CCTV video surveillance integrated with video
intelligence software focused on risk areas. While EAS analytics is currently
utilized by 16% of retailers, another 11% of companies will adopt the
platform within the next 12 to 24 months.
Where the story has changed is retailers' quest and their ability to use
reporting tools to streamline the volumes of real-time data filtering into
databases all day long. Clearly, store-level managers and senior associates
need to be privy to incidents or exceptions instantly, and as a result, 31% of
retailers give their associates access to real-time loss prevention monitoring
and alerts. Another 22% of companies plan to add the same functionality
(Table 1).
While many access this data on spreadsheets via laptops, more retailers are
making the transition to user-friendly applications. For example, 24% of
companies provide loss prevention data via dashboards and exception
reports. Other companies are empowering managers by supplying data
through mobile user interfaces. A relatively small proportion (15%) of
retailers are using mobile devices to access loss alerts, however 49% plan to
leverage mobile devices (phones and / or tablets) by LP personnel in areas
such as in-store audits (17%), and real-time LP incident alerts (15%), among
other areas. This should enable LP personnel to make real-time business
decisions and changes to protect profit.
© 2012 Aberdeen Group. Telephone: 617 854 5200
www.aberdeen.com Fax: 617 723 7897
8. The State of Loss Prevention in Retail:
Controlling Losses and Maximizing Profits
Page 7
Table 1: Organizational Capabilities Supporting Loss Prevention
Type of Capabilities Current Planned
Historical theft analysis 60% 18%
Weekly reporting / auditing on channel transaction
management functions (e.g. returns, gift cards,
50% 23%
coupons, manager overrides, charge backs, waste
of raw materials)
Real-time theft analysis 37% 33%
Real-time access to returns management solutions 36% 25%
Real-time loss prevention monitoring and alerts to
31% 22%
store locations
Ability to track customer count with camera
27% 20%
surveillance and electronic article surveillance
Source: Aberdeen Group, March 2012
Case Study — Brookstone uses Analytics to Gain an Edge
Specialty retailer Brookstone is an advocate of the power of analytics in
the fight against shrink. Like many retail companies, Brookstone is trying
to manage operational efficiencies and store operations with minimal
staffing. Unlike other competitors however, Brookstone has a high-touch,
high-customer service business model that allows shoppers to handle
high-end merchandise, and encourages interaction between associates
and shoppers.
"When managing this model with reduced employee coverage, we want
to be sure we can still present a positive level of customer service, yet
not take our eye off of protecting merchandise," said Wayne McBrian,
Director of Loss Prevention, Brookstone. "We have a mantra: 'to keep
honest people honest.' We are not trying to 'catch' people, but instead,
use our loss prevention solutions and policies to better service our
shoppers, while simultaneously cut down on shrink."
When McBrian joined Brookstone almost 20 years ago, the company was
ready to upgrade to more effective loss prevention measures and use
data to learn how to reduce shrink. At that time, Brookstone had EAS-
tagged merchandise, as well as CCTV technology and alarm systems. By
integrating an analytics platform into the mix, the retailer was able to gain
insight into traffic patterns and staff performance.
"We have insight into employee behavior that is linked to traffic patterns
and conversion rates," he explained. "For example, we use analytics to
identify suspicious returns, and even use video to make sure a customer
is present during the transaction."
continued
© 2012 Aberdeen Group. Telephone: 617 854 5200
www.aberdeen.com Fax: 617 723 7897
9. The State of Loss Prevention in Retail:
Controlling Losses and Maximizing Profits
Page 8
Case Study — Brookstone uses Analytics to Gain an Edge
The analytics tool has helped the company reduce shrink between 2/10%
and 3/10%. "For Brookstone, analytics is all about better using the
information available to us," McBrian reported. "By leveraging exception
reporting, we can delve into more data and produce more reports to
make better shrink-reducing decisions."
Brookstone is currently evaluating how to expand its exception reporting
data points, including the addition of video events, open and close alarm
reports and inventory shrink histories. By applying these new modeling
options, Brookstone could, "further reduce shrink incidents and improve
company operations," he said. "We plan to add these capabilities by the
fourth quarter of 2012."
Key Takeaways
Retailers are learning that if they want to more effectively combat loss
across their enterprises, they need access to real-time data to stay one step
ahead of recurring shrink. By using intelligent solutions to gain insight into
loss, retailers can gain access to this information and be more flexible in
their loss prevention decisions. As a result, they can curb shrink and
improve profit. The following recommendations could help retailers
improve their LP efforts moving forward:
• Create a centralized loss prevention team to oversee
enterprise LP efforts and training. Retailers are clearly moving
away from decentralized LP groups that operate in vacuums and "We have a mantra: 'to keep
solve only their isolated issues. While 19% of companies still honest people honest.' We
incorporate in-store LP teams at select high-risk locations, close to …use our loss prevention
half of retail respondents support regional loss prevention teams. solutions and policies to
better service our shoppers,
When bolstering these teams with executives from store
while simultaneously cut
operations, supply chain and other lines of business, retailers can down on shrink."
keep their finger on the pulse of where loss is a becoming a pain
point. ~ Wayne McBrian, Director
of Loss Prevention,
• Link analytical platforms to a repository housing LP data. Brookstone
Realizing the power that business intelligence offers an enterprise,
savvy retailers are ready to exploit the power of analytical platforms
to improve their loss propositions. Currently, 56% of retailers have
a centralized data analysis group focused on LP exception reporting.
Based on the companies that have established analytics tools, 49% of
retailers are successfully applying the results they learn to
controlling their loss levels.
• Combine real-time and historical data to make the best
loss-fighting decisions. Retailers have had a history of using
analytics and business intelligence to improve their decision-making
across all lines of business. Loss prevention is no exception.
However, relying solely on historical data makes LP strategies less
© 2012 Aberdeen Group. Telephone: 617 854 5200
www.aberdeen.com Fax: 617 723 7897
10. The State of Loss Prevention in Retail:
Controlling Losses and Maximizing Profits
Page 9
effective. With 69% of companies centralizing the collection and
storage of transaction data.
• Integrate the power of RFID to gain instant access to real-
time merchandise movement information. With 35% of "LP has taken on more of a
retailers lacking credible data to forecast loss prevention events, detective role, reviewing and
and another 24% of retailers without visibility into store-level researching transactional
activity, the need for real-time data is more important than ever. By exceptions and follow-up on
unusual trends. It is currently
adding RFID tags to their LP strategies – and utilizing open RFID
planning to become more
standards – retailers can use RFID tags' unique identifiers to proactive, by developing LP
understand exactly what merchandise is being pilfered, as well as the strategies and policies/
quantity. Once they add RFID to their LP arsenal, they will gain a procedures to help prevent
deeper insight into product movement, an effort that will help them theft and improve safety."
predict the most coveted merchandise and rethink product
placement, both which can more positively impact profit ~Director of Finance, Large
North American Apparel
sustainability.
Company
The writing is on the wall: the key to a successful LP strategy is to become
more events-focused and using real-time enterprise information to make
projections. By keeping their sights on intelligent solutions, whether they
are an analytics platform, robust exception reporting tools or smart tracking
solutions like RFID-enabled tags, retailers gain the assistance they need to
drill down into specific incidents or operational gaps that cause shrink. The
end result: retailers gain the support they need to reduce losses, and make a
positive impact on their bottom line.
For more information on this or other research topics, please visit
www.aberdeen.com
Related Research
The 2012 Self-Service Hand-Book: The The Customer Connected Store: 2011
Empowered Consumer; January 2012 Store Operations Automation Best
The 2012 Omni-Channel Retail Practices; March 2011
Experience; January 2012 Effective Loss Prevention Methods: The
Customer Centric-Retailing 101: Specialty Retail Story; January 2008
Customer Intelligence and Engagement Real-Time Loss Prevention: Changing the
Strategies; October 2011 Game in Store Fraud; December 2007
Author: Deena M. Amato-McCoy, Research Analyst, Retail and Consumer
Markets; Deena.Amato-McCoy@aberdeen.com
For more than two decades, Aberdeen's research has been helping corporations worldwide become Best-in-Class.
Having benchmarked the performance of more than 644,000 companies, Aberdeen is uniquely positioned to provide
organizations with the facts that matter — the facts that enable companies to get ahead and drive results. That's why
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This document is the result of primary research performed by Aberdeen Group. Aberdeen Group's methodologies
provide for objective fact-based research and represent the best analysis available at the time of publication. Unless
otherwise noted, the entire contents of this publication are copyrighted by Aberdeen Group, Inc. and may not be
reproduced, distributed, archived, or transmitted in any form or by any means without prior written consent by
Aberdeen Group, Inc. (2012a)
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11. The State of Loss Prevention in Retail:
Controlling Losses and Maximizing Profits
Page 10
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Controlling Losses and Maximizing Profits
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