Loss Prevention
Organized retail crime (ORC) is a plague that's spreading. It's infecting retailers, customers, stores, and online marketplaces. It has no cure, and retailers are forced to treat the symptoms with higher prices, increased security, and reduced hours. ORC starts in stores, cargo bays and other physical locations. Professional thieves steal thousands of dollarsโ worth ofโฆ
The second half of 2021 saw 35.5 billion online transactions processed with a global growth in volume of 44 percent year-over-year (YoY), according to a recent LexisNexisยฎ Risk Solutions study. The study illustrated that accelerated digitalization, fueled by the pandemic, continues across a multitude of different demographics and geographies. This change in consumer mentality andโฆ
Digital technologies have spurred the rise of resellers โ individuals and organizations that look for opportunities and use bots to purchase goods instantly and at scale. Resellers may purchase discontinued or discounted merchandise, but often target the hottest items that consumers are waiting to purchase. And theyโre dominating the fashion, technology, events and travel industries,โฆ
Ransomware in retail is arguably the closest the public gets to seeing the devastation of cyberattacks. One day everything at the local grocery store is normal; the next, it canโt process card payments, restock shelves or perform even the simplest of automated tasks. One week, children are enjoying their favorite snacks; the next, the productsโฆ
Buy now, pay later (BNPL) companies are the new normal online, having quickly become a $100 billion industry in the past few years. This growth is attracting more users, companies and investors to the sector. Unfortunately, fraudsters will also inevitably follow suit, so the industry must remain vigilant. This article offers insights into how BNPLโฆ
Weโve all felt the shockwaves of the e-commerce eruption. Itโs transformed the way people and businesses make payments. Whatโs more, the amount of data itโs creating is swelling with every second. In just 10 years, the amount of data in existence went from 1.2 trillion gigabytes to a whopping 59 trillion gigabytes โ thatโs a riseโฆ
Retailers jumping to capitalize on e-commerce trends have embraced omnichannel, which continues to gain favor as a business strategy for brands. However, innovation by brands to appeal to shoppers is also finding favor with an unwanted audience: thieves. There has been ample progress within omnichannel organizations in recent years, as shoppers can now check product availabilityโฆ
The very nature of a good retailer is to be agile. This ability is not only useful in deftly navigating changing customer demands, supply chain challenges, and competitive threats, but also in surviving the complex risk environment that we find ourselves in. Without a doubt, the last 24 months have certainly proven themselves to beโฆ
Recent โspontaneousโ smash-and-grab incidents, like the one at Nordstrom in San Francisco, have been anything but spontaneous. The impact of these events are more than simple theft and loss for retailers; they deter customers, disenfranchise employees, and add insurance costs. The way those committing theft, robbery and crime have adopted technology has become a newโฆ
In a letter to Congressional leadership, 20 CEOs of leading retailers expressed urgent concern over the growing impact of organized retail crime on retail employees and communities across the U.S. The signatories representing apparel, electronics, health and beauty, home improvement, and general merchandise sectors implore lawmakers to pass the INFORM Consumers Act, legislation that willโฆ