Canadian Retailer - Store 2017 - 62

LOSS PREVENTION TECHNOLOGY

PREVENTING LOSS
THROUGH DATA ANALYTICS
Linking information to behavioural trends helping retailers
curb the scourge of loss

BY DAN MITCHELL, Director, SAS Global Retail & CPG Practice and DI LEE, Senior Industry Consultant, Retail & CPG

IF there's a vertical that could serve as the poster

child for the hand-in-glove fit of technology and
business, retail would be a strong contender. The
nature of its business processes, from marketing
through point-of-sale, fulfillment channels and
supply chain management, is tailor-made for the
application of technological magic.
Our omnichannel universe also opens up new
vectors for "bad actors" to damage the bottom
line. Intrusions, data theft, ransomware and their
ilk win headlines, but technology also enables retail's dirty little secret: loss through theft or fraud.
Shrinkage is as old as retail itself, whether it be
through administrative error, spoilage, breakage
or outright fraud and theft. Technology allows
thieves and fraud artists to play the same old
games in a more sophisticated manner. Fortunately, the huge volume of data created in our techno-

62 |

CANADIAN RETAILER

| THE LOSS PREVENTION ISSUE

logically enhanced retail environment enables
analytical solutions to those same problems, with
a velocity that can ameliorate problems before
they become gaping holes in the balance sheet.
Shrinkage

The 2017 National Retail Security Survey, conducted in collaboration by the National Retail
Federation and the University of Florida, reveals
that retailers' inventory shrink averaged 1.44 per
cent of retail sales, or $48.9 billion in 2016, up
from $45.2 billion in 2015.
According the American National Retail Federation, internal theft is responsible for 30 per cent
of shrinkage losses, while shoplifting and organized retail crime are responsible for 36.5 per cent.
Fortunately, retailers are sitting on a loss prevention gold mine: Data.

Table of Contents for the Digital Edition of Canadian Retailer - Store 2017

Publisher’s Desk
Retail Currents
Under the Banner
At Issue
Association News
A Family Affair
20 Pairs of Blue Jeans
Riding the Radio Wave
Canada’s Retail Conference Wows Attendees
ERA 2017: The Best of Canadian Retail
Honouring Canadian Retail Greatness
Grand Prix Tracks “Slow Food Fast” and Other Grocery Trends
Longo’s Tradition of Freshness Honoured
Supporting Tomorrow’s Retail Leaders
Restorative Justice: A Proving Ground for Loss Prevention
Preventing Loss Through Data Analytics
Advertisers’ Index
Canadian Retailer - Store 2017 - Intro
Canadian Retailer - Store 2017 - bellyband1
Canadian Retailer - Store 2017 - bellyband2
Canadian Retailer - Store 2017 - cover1
Canadian Retailer - Store 2017 - cover2
Canadian Retailer - Store 2017 - 3
Canadian Retailer - Store 2017 - Publisher’s Desk
Canadian Retailer - Store 2017 - 5
Canadian Retailer - Store 2017 - Retail Currents
Canadian Retailer - Store 2017 - 7
Canadian Retailer - Store 2017 - Under the Banner
Canadian Retailer - Store 2017 - 9
Canadian Retailer - Store 2017 - At Issue
Canadian Retailer - Store 2017 - 11
Canadian Retailer - Store 2017 - Association News
Canadian Retailer - Store 2017 - 13
Canadian Retailer - Store 2017 - 14
Canadian Retailer - Store 2017 - 15
Canadian Retailer - Store 2017 - A Family Affair
Canadian Retailer - Store 2017 - 17
Canadian Retailer - Store 2017 - 18
Canadian Retailer - Store 2017 - 19
Canadian Retailer - Store 2017 - 20
Canadian Retailer - Store 2017 - 21
Canadian Retailer - Store 2017 - 20 Pairs of Blue Jeans
Canadian Retailer - Store 2017 - 23
Canadian Retailer - Store 2017 - 24
Canadian Retailer - Store 2017 - 25
Canadian Retailer - Store 2017 - Riding the Radio Wave
Canadian Retailer - Store 2017 - 27
Canadian Retailer - Store 2017 - 28
Canadian Retailer - Store 2017 - 29
Canadian Retailer - Store 2017 - Canada’s Retail Conference Wows Attendees
Canadian Retailer - Store 2017 - 31
Canadian Retailer - Store 2017 - 32
Canadian Retailer - Store 2017 - 33
Canadian Retailer - Store 2017 - ERA 2017: The Best of Canadian Retail
Canadian Retailer - Store 2017 - 35
Canadian Retailer - Store 2017 - 36
Canadian Retailer - Store 2017 - 37
Canadian Retailer - Store 2017 - 38
Canadian Retailer - Store 2017 - 39
Canadian Retailer - Store 2017 - Honouring Canadian Retail Greatness
Canadian Retailer - Store 2017 - 41
Canadian Retailer - Store 2017 - 42
Canadian Retailer - Store 2017 - 43
Canadian Retailer - Store 2017 - 44
Canadian Retailer - Store 2017 - 45
Canadian Retailer - Store 2017 - 46
Canadian Retailer - Store 2017 - 47
Canadian Retailer - Store 2017 - Grand Prix Tracks “Slow Food Fast” and Other Grocery Trends
Canadian Retailer - Store 2017 - 49
Canadian Retailer - Store 2017 - 50
Canadian Retailer - Store 2017 - 51
Canadian Retailer - Store 2017 - Longo’s Tradition of Freshness Honoured
Canadian Retailer - Store 2017 - 53
Canadian Retailer - Store 2017 - 54
Canadian Retailer - Store 2017 - 55
Canadian Retailer - Store 2017 - Supporting Tomorrow’s Retail Leaders
Canadian Retailer - Store 2017 - 57
Canadian Retailer - Store 2017 - Restorative Justice: A Proving Ground for Loss Prevention
Canadian Retailer - Store 2017 - 59
Canadian Retailer - Store 2017 - 60
Canadian Retailer - Store 2017 - 61
Canadian Retailer - Store 2017 - Preventing Loss Through Data Analytics
Canadian Retailer - Store 2017 - 63
Canadian Retailer - Store 2017 - 64
Canadian Retailer - Store 2017 - 65
Canadian Retailer - Store 2017 - Advertisers’ Index
Canadian Retailer - Store 2017 - cover3
Canadian Retailer - Store 2017 - cover4
Canadian Retailer - Store 2017 - divider1
Canadian Retailer - Store 2017 - divider2
Canadian Retailer - Store 2017 - 69
Canadian Retailer - Store 2017 - 70
Canadian Retailer - Store 2017 - 71
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