MRC | Merchant Risk Council’s Post

🔒 Exciting News Alert! 🔍 We are thrilled to announce that VisOne.ai has officially joined the Loss Prevention Research Council (LPRC) as a Solution Partner! 🌟 As retail crime continues to evolve and become increasingly aggressive, retailers require more innovative solutions to protect their assets, minimize losses, and ensure a safer environment for employees and shoppers worldwide. The Loss Prevention Research Council (LPRC) is dedicated to improving retail asset protection through evidence-based research and industry collaboration. Operating on five pillars—research, innovation, collaboration, information, and engagement—the LPRC is on a mission to prevent and detect theft, fraud, and violence by leveraging research to find evidence-based solutions. With our real-time theft detection and prevention software powered by AI, VisOne.ai fits seamlessly into this mission. Installed in over 3,500 stores globally, our software helps retailers prevent shoplifting and reduce theft and shrinkage by up to 60% while ensuring no identifiable customer data is collected. It's a plug-and-play solution designed to empower store owners in combating shoplifting effectively. Our membership with the LPRC underscores our commitment to advancing the technology of loss prevention with simple and cost effective solutions. We are eager to help shape the future of retail security through collaboration, innovation, and research-backed solutions. Join us in our journey as we support the Loss Prevention Research Council (LPRC) and their diverse membership to create safer retail environments globally! 💼🔐 #LossPrevention #RetailSecurity #Innovation #Collaboration #VisOne #LPRC #shrinkage #retailshops #theftprevention #shoplifting #artificialintelligence #securitysolutions #LP #assetprotection #retailnews #retailindustry #retailcrime #retailtheft #ORC #organizedretailcrime

In today's cutthroat retail landscape, effective loss prevention is non-negotiable. But are you keeping up with the latest trends and tech? 🔒 🔍 Test your knowledge of retail loss prevention and stay ahead of the game: https://lnkd.in/eycQkj59 #LossPrevention #RFID #EasSystems

🛍️ Unveiling the Impact of Retail Crimes on Consumers and Retailers 🛒 Ever wondered how those sneaky retail thefts impact your shopping experience? Dive into these fascinating findings revealing the ripple effect of retail crimes on both consumers and retailers in the U.S.! 🔍 Consumer Insights: According to recent research by CiviScience, a whopping 46% of urban respondents have tweaked their shopping behaviors due to retail theft, with 31% opting to hit the stores less frequently. It's clear - shoppers are on high alert! 💼 Retailer Responses: Forbes Advisor's survey uncovered some intriguing reactions from small business retailers. With 64% hiking up product prices and half of them beefing up security with cameras and motion sensors, it's a retail arms race out there! 🛡️ Protective Measures: Appriss data revealed that 45.3% of retailers have slashed operating hours to safeguard against theft. That's some serious store fortification! 💎 Top Targets: FBI data highlights the most coveted loot: currency, jewelry, and clothing. In 2022 alone, jewelry and precious metals worth a jaw-dropping $2,386.61 million were snatched, while clothing and furs worth $6575.59 million vanished into thin air! 🚫 My Takeaways: Consumers are shopping smarter amidst the rising tide of retail crime. But with inventory losses and dwindling foot traffic, retailers are feeling the pinch, leading to price hikes and shortened hours. It's high time for a strategic crackdown on organized retail crime to safeguard both shoppers and businesses alike! 🔎 Want to Dive Deeper?: Explore insider threats and anti-fraud strategies at the Retail Law & Risk Workshop during NRF Protect. Let's join forces to tackle this retail underworld! #RetailCrime #ConsumerBehavior #ShopSmart #ProtectRetail #NRFProtect #marketingresearch #NRF #fashionbusiness

Let's delve into the realm of self-checkout theft – a persistent challenge for retailers worldwide. Conventional industry standards often fall short in detecting and preventing such losses. However, at Extenda Retail, we're rewriting the rulebook. Through rigorous research and analysis, we've uncovered a startling truth: the prevailing industry benchmarks underestimate the magnitude of self-checkout theft. But here's the game-changer – with minimal adjustments to retailers' environments, systems, and processes, our SelfServiceLossPrevention solution has proven capable of identifying four times more instances of theft than the current norm. It's time to redefine what's possible in retail security. Our mission is simple: to empower retailers with unparalleled insights and tools to combat theft effectively. If you're ready to transcend industry standards and fortify your business against losses, let's connect and explore how Extenda Retail can revolutionize your approach to self-checkout security. #RetailSecurity #LossPrevention #SelfCheckoutTheft #InnovationInRetail #ExtendaRetail #RedefiningStandards

The frequency of organized retail crime (ORC) events continues to rise rapidly, and can cut into retailers' bottom lines. However, with a multi-pronged strategy, retailers can work to curb ORC. In a recent Modern Retail article, Tony D'Onofrio, President of Sensormatic Solutions, explores the three key pillars of a successful Loss Prevention strategy: next-gen tech, partnerships, and legal frameworks. Check out the article here: https://ow.ly/tPWl50Quac5 #Retail #LossPrevention #ORC

We've reached a pivotal moment in the #lossprevention & #assetprotection industry, where practical methods meet smart tech solutions. The Purchek® technology is leading the charge, employing an unbiased and automated approach to prevent #shoplifting. Learn how this technology protects assets and reshapes the #retail landscape: https://lnkd.in/ecPrr_WR #retailtechnology #theftprevention #socialresponsibility

Checkout this fantastic article by Marshall Kay in Forbes discussing the under-utilization of RFID technology in the retail industry for asset protection use cases. It's fascinating to see how RFID has the potential to revolutionize key aspects like inventory management, supply chain visibility, and theft prevention—areas of paramount importance for retailers. Both Marshall Kay and Read Hayes, PhD ,of the Loss Prevention Research Council (LPRC) emphasize the untapped potential of RFID in Asset Protection, Theft prevention, and forensic data collection. Personally, having witnessed the evolution of RFID from within retail. I agree with Marshall & Read's assessment of RFID's under-utilization in relationship to Asset Protection utilization. It's been an incredible journey, and I consider myself fortunate to have been part of the RFID revolution during my time in the retail sector. #RFID #RetailInnovation #DigitalTransformation

There are so many issues that retailers are grappling with at the moment - supply chain issues, sustainability concerns, staff shortages. The list goes on. And somewhere when often chatting with retailers about their key concerns, the topic always comes up about the challenges of shrinkage and theft and managing security in a busy retail world.   I have to admit that while I often hear about the problems, I wasn't informed enough about many of the solutions and solutions providers to help retailers deal with these issues. So, it was a pleasure when I met Sarah Lenihan, one of the Verkada team in London at the recent Retail Technology Show, who later took time to talk me through the emerging trends around retail security and how technology is empowering retailers to take back control in this space.    With the emergence of technologies and AI enabled tools, supporting active loss prevention strategies and enabling action in real time, this is a fascinating area in which AI is really evolving retail security, tackling shrinkage and enabling the retailer to respond more effectively to the industry issue. What's interesting is that chances are you've already visited a retail store using Verkada's security technology, you just didn't know or notice it. Check out Verkada's ebook on retail security and loss prevention measures, free to download in the retail section on their website. https://lnkd.in/eRJpCne9 And if you want to learn more, this is one of the many topics we will touch on when we host a London Retail Safari on 12th June, which looks at the needs of both the modern shopper and retailer. Rob Yeates Flick Collingwood 📈 Becca Simmons Mandy Hennebry Niamh Higgins Louise Lally Training Academy Peter Hyland Oonagh O'Hagan Jennifer Turner (Delaney) Mark McCann Simon Betson Keith Hanley Lorraine Butler Fergal Doyle CDir Jean McCabe TRYSTAN FARNWORTH Dee Cunniam Evelyn Moynihan Matt Bradley Carl Goodman William Good DJ McAllen Peter Rigney Suzanne Quinn (McHugh) Paul Lowry Áine Hussey Holly Barry Jim Barry Katrin Hengst #tre #topretailexpert

Attention, retail warriors! 💥 Organized Retail Crime (ORC) is sweeping the nation and LVT just released a pretty interesting article on navigating the shifting landscape. Here’s a brief summary: LVT delves into the dynamic world of retail security and the evolving threat of ORC. The blog unveils crucial insights and strategies to stay one step ahead in this fast-changing landscape. 🔍 Explore the proactive measures retailers are taking to adapt, innovate, and combat the surge in ORC incidents. From cutting-edge surveillance solutions to smart analytics, discover how technology is revolutionizing the defense against retail crime. Ready to fortify your retail fortress? 💪 Dive into the full article for a deep dive into the world of adaptive security: https://lnkd.in/gnMaJ5_J At LVT, we're passionate about empowering retailers to thrive in the face of challenges. Join the conversation, share your thoughts, and let's build a more resilient retail future together! 🌟 #RetailInnovation #OrganizedRetailCrime #SecurityRevolution #LVTInsights #RetailResilience 🛡️