B&Q, Asda, Peacocks, SPAR, Phones 4u, Scotmid Co-op among expert speakers at Loss Prevention Summit
Retail suffers at the hands of shoplifters, travelling gangs, internal thieves and online fraudsters up to £4 billion every year. Crime and loss prevention forms a considerable proportion of the overall cost of retail crime in the UK, with an average expenditure of £750,000 per retailer.*
Ray Palmer, head of asset protection at B&Q told the Retail Bulletin, “If you put the energy into addressing loss prevention then it’s a ‘free quid’.
“In today’s shrinking market you either take more money, get better terms from suppliers, or you address your [stock loss] gremlins. You need to do the first two but for every pound saved on shrinkage it is a pound of profit.”
Retailers need to invest heavily in loss prevention technology and training to protect their businesses, but more importantly to ensure the safety and well-being of their employees, customers and the communities which they serve.
Today’s fraudsters are increasingly using techniques that make online fraud harder to identify and more difficult to isolate. With e-crime costing the retail sector £205.4 million in 2011-12**, e-crime now equates to the most costly type of crime affecting the sector. Many retailers now identify fraud arising from their growing online and multichannel operations as the biggest emerging issue of retail crime and needs to be a priority.Register now to make sure of your place.
* BRC Retail Crime Survey 2012
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