Month: November 2018

Top retail loss prevention events

Top retail loss prevention events in the US

Each year the retail industry, law enforcement agencies and researchers band together to offer a host of events designed to combat retail theft and improve loss prevention strategies throughout the United States.

From the newest products to the latest insights and technology, these conferences are designed to arm retailers with the tools and knowledge they need in the ongoing battle against retail shrink.

Here’s an insight into some of the top retail loss prevention events in the US in 2019.

MRC Vegas 2019

Run by the Merchant Risk Council and spanning four days, MRC Vegas has an eCommerce focus. This annual conference draws about 1600 people and 450 companies and is the largest global conference focused on fraud prevention, payment processing, technology, cybersecurity and financial services for eCommerce professionals.

When: March 18-22, 2019

Where: Las Vegas, NV

Website: https://www.merchantriskcouncil.org/events

RILA Retail Asset Protection Conference

Attended by over 800 asset professionals annually, the Retail Asset Protection Conference attracts top level executives from the most progressive retailers in the world.

Those attending share and tap into the best ideas in the industry to improve organisational effectiveness and examine where the industry is heading in the future.

The conference program is developed by RILA’s Asset Protection Steering Committee – a cohort of retail experts from the most recognized brands in world.

When: May 5-8, 2019

Where: Orlando, FL

Website: https://www.rila.org/protection/Pages/AssetProtectionHome.aspx

Retail Innovation Conference

With a focus on the future, the Retail Innovation Conference looks at changes within the retail industry and where it’s going.

Last year’s conference grew by 40 per cent with some of the biggest names in the retail industry attending. It sees retail professionals share ideas, innovation, technology and tactics through keynote speeches, workshops and panels.

The conference also offers actionable takeaways and insight from renowned retail analysts.

When: May 6-9, 2019

Where: New York City, NY

Website: https://retailinnovationconference.com/

NRF Protect

Renowned as the retail industry’s premier loss prevention event, NRF Protect attracts over 2500 attendees each year to witness 90 speakers, tap the knowledge of 200 exhibitors and meet representatives of over 300 brands.

This is arguably the biggest retail loss prevention of the year and covers everything from cyber and digital crime to risk management, talent and culture, theft and fraud, and workplace violence.

When: June 11-13, 2019

Where: Anaheim, California

Website: https://nrfprotect.nrf.com/

LPRC Impact

Hosted by the Loss Prevention Research Council, LPRC Impact focuses on research to help retailers assess their loss prevention strategies and the impact they have on sales, crime and loss levels.

The two-day program comprises presentations, panels, and learning labs.

When: TBA

Where: TBA

Website: https://lpresearch.org/impact/

CLEAR 2019 National Conference

Hosted by the Coalition of Law Enforcement and Retail, the annual CLEAR National Conference brings together law enforcement agencies and retail corporations, with the aim of improving theft detection and loss prevention, and devising strategies to keep stores safe.

Its major focus is: “To promote and encourage municipal, county, state, and federal organizations to create and support enforcement and detection units to combat property such as but not limit to; organized retail crime, fencing of stolen property, cargo theft, identity theft and fraud, burglary, theft, and organized property crime schemes.”

2019 will mark the 10th year this conference is hosted and it also features an emphasis on legislation to target organised retail crime and general shoplifting.

When: TBA

Where TBA

Website: https://clearusa.org/index.php

TCORCA Conference

Running over two days, the TCORCA Conference features a host of topics, keynote speakers and break-out sessions that focus specifically on Organised Retail Crime and other loss prevention strategies.

The aim of the event is to offer retailers an insight into the best practices and training to more effectively target and combat organised retail crime.

When: TBA

Where: TBA

Website: https://www.tcorca.org/tcorca-conference/

 

Black Friday Blog Post

Black Friday 2018 set to be a bumper event for retail

As the nation gears up for the retail bonanza that is Black Friday, 2018 is tipped to be a bumper year and retailers with both a physical and online presence look set to be the biggest beneficiaries.

According to a new survey from the International Council of Shopping Centers (ICSC), this year consumers plan to spend an average of $5,54.90 across the Thanksgiving Weekend, with 46 per cent of shoppers looking to fork out more than they did last year.

So, as retailers ready for the season of shopping, here’s what you need to know…

A big year for retail

As consumer confidence increases, so too will the urge to spend, the ICSC predicts. They note consumer confidence is now at its highest in two decades and as a result, shoppers will be keen to open their wallets and spend extra this year.

In total consumers plan to spend an average of $554.90 across the Thanksgiving Weekend, with almost a third of that ($207.30) dedicated to Christmas gifts.

Meanwhile, The Balance explains November 23 will kick off what is traditionally the busiest period of the retail calendar with 30 per cent of all retail sales occurring between Black Friday and Christmas.

The entire period is set to see $715 billion injected into the economy – three per cent more than in 2017.

Digital or physical?

Recent years have been dominated by discussion that online was killing physical retail as consumers sought to source the best Black Friday bargains online.

Last year, Retail Dive noted walk-in traffic was down one per cent on the year prior. But according to the ICSC, it is omnichannel retailers that stand to do best.

They note 93 per cent of consumers are planning to spend with retailers that have both a physical and a digital presence.

The trend will be driven by the “buy online, pick-up in-store” push, and that subsequent store visit will likely result in welcome additional spending.

The ICSC states 77 per cent of consumers indicate they are likely to spend additional money at that store or adjacent retailers.

“It’s clear that having a strong physical and digital presence continues to drive sales – and Black Friday is no exception,” said Tom McGee, President and CEO of the International Council of Shopping Centers. “This year’s survey results once again show that consumers want options and will shop both in-store and online throughout the holiday season.”

Meanwhile, 71 per cent of shoppers are actively planning to visit bricks and mortar stores, with the Millennial generation leading the charge. Eighty-three per cent of Millennial shoppers indicated they would be spending at shopping centres or malls.

Biggest shoplifting day of the year

With more foot traffic in retail outlets than any other day of the year, retail theft also experiences a rise.

In fact, Fortune notes Black Friday is the single day when most thefts occur in general, with statistics rising by up to 28 per cent.

In retail, the rise is fuelled by a combination of packed stores, laden shelves, busy sales associates, and ample opportunity which leads to spike in shoplifting and fraud-related crimes.

So how do you protect your store?

Used by 73 per cent of retailers, according to the latest Global Retail Theft Barometer, electronic article surveillance remains one of the most popular and effective loss prevention strategies.

Using antenna and security tags, it allows sales associates to be automatically notified by alarm that a product or merchandise is leaving the store.

But its effectiveness is only as good as its implementation.

In advance of the busiest period of the retail year, store management should ensure:

  • The right type of tag or label is fitted to the right type of merchandise (clothing tags for apparel, lanyards and tags for fashion accessories like shoes and handbags, optical tags for eye wear etc)
  • Tags are of a sufficient locking strength, with Superlock magnetic strength considered the minimum standard.

Meanwhile, further loss prevention strategies include:

  • Good staff screening – Ensure all staff, including Black Friday casuals, have been reference-checked thoroughly.
  • Staff training – All staff should be trained on proper store procedures that include meeting and greeting customers, and watching for key signs of suspicious behavior.
  • Secure store layout – Ensure high-value items are kept within easy monitoring of staff, and there is a clear line of sight to all areas of the floor.
  • Secure cupboards – Provide your staff with easy yet secure access to storage cupboards.
  • Use your EAS – All items should be tagged with tags of sufficient magnetic strength, while smaller items need to be labelled. If you are finding tags removed, your EAS is telling you security needs to be improved.
  • Use your RFID – RFID gives you an insight into stock levels, loss, where an item is in the chain of supply, and inventory holdings. Use it to ensure you have adequate items on hand while balancing the issue of too much stock that leads to loss through markdowns.
  • Employ surveillance – Visible surveillance like CCTV cameras acts as a direct deterrent against theft.

If all predictions are correct, this year’s Black Friday sales promise to be a boon for the retail industry. The art of maximizing the surge in sales comes down to ensuring the stock that stands to lure interest is also protected against opportunistic thieves.

Choosing the right EAS tags

Choosing the right security tag

Selecting the right security tag or label to protect your merchandise comes down to a series of key factors, including the type of merchandise you sell, its value, and the existing electronic article surveillance (EAS) system you have in place.

At Securitytags.com, we have tags compatible with radio frequency and acousto magnetic EAS systems, and our tag styles are suited to a wide variety of merchandise, ranging from clothing and fashion accessories to liquor and eyewear.

In this guide, we’ll walk you through the features to consider when choosing the right tag for your store.

Your existing system

Your type of electronic article surveillance system determines which type of EAS tags and labels will be required to protect your merchandise.

EAS systems are commonly available in two types; acousto magnetic (AM) and radio frequency (RF) with the difference between the two systems being the frequency at which they operate.

AM systems, such as Sensormatic, will only work with AM compatible tags, while RF antenna like Checkpoint will only work with RF compatible tags.

Merchandise type

The type of merchandise you sell, along with the volume that is sold, also influences which tag or label will be suited to your security needs.

Clothing – Clothing is generally secured using hard security tags which are available in a variety of shapes, with different operating mechanisms and strengths. Each of these factors adds up to improve the security of your items.

Clothing tags comprise three key elements; the tag (which houses the EAS receiver), the pin (which passes through the garment) and the locking mechanism (which secures the pin into place).

More will be explained about the locking mechanism and strength later, but in terms of security, round (shell) tags are often favoured because the shape is harder to prise apart, while the size of the pinhead should also be taken into account.

The larger the pin head, the harder it is to pull through the garment without shoplifters damaging the item and rendering it useless.

Meanwhile, ink dye tags are also commonly used on clothing and can be employed to enhance an EAS tag or instead of electronic article surveillance.

Ink dye tags are a benefit denial strategy that sees permanent ink released into the garment when the tag is tampered with.

Fashion accessories 

When it comes to fashion accessories such as handbags and shoes, they are most often secured using a cable tag or a lanyard and tag, rather than having a pin pass through the actual product.

Lanyards should incorporate high-strength cables that cannot be cut readily or pulled off by a thief. Meanwhile sunglasses can be guarded using purpose-designed optical tags.

Electronic accessories and high value consumables

Electronic accessories and consumables such as batteries and razors are some of the most frequently stolen items within the retail environment. The best ways to secure them include display hook stop locks, and multi-function tags.

Bottles

Whether it’s top-shelf liquor, or a rare bottle of red, there is a range of tags designed specifically for liquor bottles, with straps, caps and secure locks available.

Small items 

For small items like groceries or hardware which tend to be sold in high volumes, adhesive security labels are the best option due to their affordability and disposability. However, you will need to factor in whether flat, paper-thin labels are preferred or small two-dimensional labels.

It’s worth noting that pharmaceuticals often have a high foil content, so AM based systems are better suited to their security.

Level of security

The locking mechanism that secures the pin into the tag determines how easy it is to force a tag apart and remove it.

This locking mechanism can either be mechanical or magnetic. In terms of magnetic locking mechanisms, they come in a variety of strengths, with the latest technology boasting almost impenetrable security.

Magnetic strength falls into the following classes:

  • Standard – Featuring a standard strength magnet, this option remains popular with legacy systems but has the greatest potential to be circumvented by thieves.
  • SuperLock – Using a high-powered magnet often more than double the strength of standard magnets, tags of this grade provide increased resistance against illicit removal.
  • HyperLock – Unlocked using a combination of multiple high-powered magnets arranged into a single detacher body. HyperLock is available in tags such as the BossTag range.
  • HyperLock offers extra security as detachers are difficult for would-be criminals to manufacture, source and carry around.

Further questions?

If you have further questions about which security tags or labels are best suited to your retail environment, our staff are available to assist and can be contacted here.