Retailers Must Implement Ironclad Loss Prevention Strategies

Frank Costa, President Nexgen Protection Services – 

One of the biggest threats to retail profits is “shrink,” or preventable losses due to theft or human error. Retail shrink accounts for billions of dollars per year in lost revenue, so it’s in retailers’ best interests to have a comprehensive set of standards designed to avoid these losses. 

The rise of retail organized crime, cyberattacks, and new methods of theft have made reducing shrink harder than ever for retailers. In order to be prepared for these modern threats, retail store owners and managers must have ironclad loss prevention strategies in place, as well as the tools to enforce them.

SOURCE: 

Shein, M. Reassessing the role of loss prevention, Security Magazine, 04/04/2024.
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