Retail Council of Canada 2021 Retail Loss Prevention Forum
The face of retail loss prevention is changing amid an industry landscape that’s been altered significantly by impacts of the pandemic. Bringing together loss prevention and law enforcement professionals from across the country, Retail Council of Canada’s 2021 Retail Loss Prevention Forum shed some light on the changed environment and the continued evolution of prevention strategies and tactics.
Key insights from the Forum:
- With organized retail crime on the rise, the creation of intra-industry networks, development of strong relationships with local law enforcement and the sharing of critical information can help retailers unite in their efforts to curb the impacts of organized criminal activity.
- Developing an acute understanding of current technology systems, including their capabilities and limitations, will help retailers navigate the complex world of tech stack investments and get the most out of the latest advancements and innovations.
- Through the creation of a comprehensive incident response plan and collaboration with law enforcement, businesses can help reduce the negative impacts of cybercrime and mitigate the potential damage and loss associated.
Retailers across the country are beginning to challenge the traditional loss prevention approach, rethinking their strategies and leveraging creative community relationships to more effectively secure their stores and ensure the safety of their customers, employees and the communities they operate in.
Amid an escalation of organized retail crime (ORC) activity across the country, merchants everywhere are open to attacks perpetrated by these criminal networks. However, by creating networks of their own and engaging fellow loss prevention professionals, law enforcement and local government in dialogue and information sharing, the operations of ORC groups can be significantly disrupted.
As technological tools become more intuitive, transitioning from reactive to predictive solutions, their ability to aid in the efforts of loss prevention teams is immense. But which technologies are right for your stack? Find out how developing an understanding of your current technologies and systems will enable you to leverage the full potential of new and emerging tech developments.
Cybercrime continues to rise in Canada, presenting all businesses with an online presence with the very real threat of attack. Find out how the development of a company-wide incident response plan, as well as continuous prevention education, can help retailers better protect themselves against damage and loss.
Creative and innovative approach to community partnerships and engagement helping to reduce retail crime
The traditional loss prevention paradigm and practices employed to protect organizations against crime are changing. As a result, teams across the country are rethinking their strategies. Toronto Crime Stoppers’ Sean Sportun explains how a creative approach and the development of community partnerships helped the retailer drastically reduced crime at its locations, resulting in a safer environment for its customers and employees.
Impacts of the COVID-19 global pandemic have significantly changed consumer shopping behaviour, leading to the rise of ecommerce and curbside pickup explosion. Members of Best Buy’s loss prevention team share the ways their efforts have been affected and the shifts and pivots that were required in order to continue securing the safety of its customers and employees, as well as the profitability of the company.
Government-imposed public health protocols, social restrictions and lockdowns that have arisen because of the COVID-19 global pandemic have changed the way people do things, and impacts on the retail sector have been significant. For retail loss prevention teams charged with ensuring the safety and security of the business’ employees, customers and product, the shifts and accelerations in consumer behaviour mean that they have to rethink their strategies.
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