Report: Shrink cost retailers more than $112B globally in 2012

Shoplifting, employee theft found to make up the majority of losses

“One of the main takeaways (from the study) and it’s something a lot of our retailers do already is to have an overall loss prevention program,” Reynolds said. “One of the things that we hear a lot from our customers is that our solutions – EAS (electronic article surveillance) – is their first line of defense and is also their backbone for their overall program. Each corner is a different challenge, a different item and it gives them more of a laser focus than a shotgun approach to go after those different challenges that come up. The ones that implement that feel they have a lower shrink (rate) than the 1.5 percent average. It has to be a philosophy all the way from the C-suite of the retailer down to the individual stores.”

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