By Moe Lastfogel Director of Sales and Marketing for The Retail Observer ![]() Yes, the Holiday Pirates have arrived, and they are giving consumers a bad name. These pirates come in all shapes, sizes, ethnicities, and cultural beliefs. No, they don’t have eye patches and peg legs or a parrot on their shoulder — yet they are still Pirates. Who are they and how do you know when one is in your store? You don’t, and that’s the problem. In the old days of looting pirates, at least you knew when they were coming. They would sail into your harbor, row ashore and fire a few shots off to make you run, and plunder and pillage with very little chance of escape, but at least you knew it was coming. Today these pirates have refined their stealing ways, as they no longer make noise and let you know they’re coming, yet there is no doubt they are present, as the numbers don’t lie. Loss prevention continues to meet challenges on all fronts, from highly skilled cybercriminal operations to solo shoplifters who nimbly pocket low-value items. Overall, risk is becoming more of a priority to retailers, and that cuts a broad swath: ecommerce, return fraud and internal hazards. All areas have seen increases in prioritization from retailers, particularly in organized retail crime, cybercrime and ecommerce fraud. The 2020 National Retail Security Survey finds shrink at an all-time high, accounting for 1.62% of a retailer’s bottom line — costing the industry $61.7 billion. It cuts deeply across the industry too, with seven in 10 reporting a shrink rate that exceeds 1%. Increasing boldness on the part of shoplifters due to current unemployment, bail reforms and criminal justice reforms, more attempted theft without fear of consequences, gift card scams, self-checkout, mobile checkout, the frequency of phone scams which is way up, including activation of gift cards. The National Retail Security Survey is an annual poll of loss prevention executives that benchmarks retail shrinkage and operational information about how retailers are combating losses. The survey also showed that the Consumer Electronics and Home Improvement side of Retail were the least affected, but it’s still something to look at. Proper training and setting up a task group to look into how secure your operation is are two suggestions that will help you begin your loss prevention program. I'm sure you can see the monetary reasons for making this a priority conversation. Happy Retailing, Mates- Moe Lastfogel [email protected]
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By Moe Lastfogel Director of Sales and Marketing for The Retail Observer ![]() The holidays are upon us and I cannot decide if I’m more grateful or thankful for this past year. By definition: Grateful (adjective) - warmly or deeply appreciative of kindness or benefits received. Thankful (adjective) - feeling or expressing gratitude; appreciative. Ok, they are different words with very similar meanings, so I guess that I am feeling both (even in this Covid era). Let me tell you why I feel this way. The last 13 years in business and personal life have been a whirlwind of ups and downs. Dealing with loss as multiple family members moved on to the great beyond (four loved ones in three years), I experienced the warm support of friends and family during these times. Having children grow up and move out on their own (3) and now having five grandchildren with one more due this month. Thanks to social media, Facebook and LinkedIn has helped bring many old friends and family back into my life. The Retail Observer has officially gone from “News Rag” to one of the most respected magazines in the industries we cover. It has achieved growth in our readership with over 26,000 subscribers and reaches over 38 countries. The website is now receiving over 30,000 hits a month on average. The magazine has also become the official sponsor or media partner of over 30 shows and events. Affiliations with trade associations, buying groups and our readership are in constant growth and are getting stronger every day. Consumer electronics, furnishings, plumbing and even cabinet manufacturers are calling to get involved with us to offer our readers new products to help grow their companies. The openness of the many manufacturers we deal with to invite us to take behind-the-scenes looks at what they are doing for the future has been amazing. We have grown to have many of our own writers and various Buying Groups and Associations that submit exclusive articles to us, making us one of the best resources in the industry to help our readers thrive in this economy — not just for today, but for tomorrow. I see the future offering even more to be thankful and grateful for. The sky’s the limit. Let us know what you are thankful for. Send an email to [email protected]. I look forward to reading your thoughts. Happy Retailing, Moe Lastfogel [email protected] |
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December 2021
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