All articles tagged with #loss prevention
TJX, the parent company of T.J. Maxx, HomeGoods, and Marshalls, is implementing body cameras for its loss prevention associates to deter theft and promote a safer environment in its stores. The footage from these cameras will only be accessible to law enforcement or legal representatives with a subpoena. This move follows similar security measures by other retailers like Target to combat increasing retail theft.
TJX Companies, the parent company of TJ Maxx and Marshalls, is equipping employees with body cameras to curb thefts. The initiative aims to de-escalate incidents and deter crime, with footage shared only with law enforcement upon request. The company hopes the cameras will reduce "shrink" and enhance store safety, amid a broader retail industry struggle with theft, which resulted in $112.1 billion in losses in 2022.
TJX Companies, which owns TJ Maxx, Marshalls, and Home Goods, has started equipping specially-trained loss prevention employees with body cameras in select stores to deter shoplifting and enhance safety. This move is part of a broader trend, with about a third of retailers exploring similar measures, including AI technologies and removing self-checkout registers, according to a 2023 National Retail Federation survey.
TJX Companies, the parent company of TJ Maxx, Marshalls, and HomeGoods, is equipping loss prevention employees with body cameras to deter theft and enhance store safety. The initiative aims to de-escalate incidents and reduce merchandise shrinkage, which cost the retail industry $112.1 billion in 2022. The footage from these cameras is shared only with law enforcement or in response to a subpoena. This move follows similar anti-theft measures by other retailers like Dollar General.
A TikToker named Shug has gained attention for documenting the activities of alleged undercover loss prevention workers, known as "floor walkers," at Walmart. In a recent video, Shug captured a man in a blue flannel shirt and baseball cap attempting to spy on another shopper. Walmart has been investing in loss prevention initiatives, including new technology, to combat shoplifting. Some customers have shared tactics to deter floor walkers, while others express discomfort with being followed in stores.
Retail theft is on the rise in the D.C. area and nationwide, with small businesses experiencing the personal and financial impact. The increase in thefts is attributed to a troubling economy and individuals seeking street credit. Small businesses are considering hiring security, but the cost can be burdensome. Store owners are advised not to confront thieves and instead call the police. The emotional toll and community impact of theft can lead to businesses closing. Building better communication and support within the community may help deter theft and support small businesses.
Despite the rise in retail theft, retailers such as Costco, Lowe's, Best Buy, and Tractor Supply have managed to minimize its impact on their businesses. These companies share similarities in their strategies to combat theft, including store location in suburban or rural areas, the sale of big and heavy merchandise that is difficult to steal discreetly, secure displays that require customer assistance, and limited self-checkout options. These tactics have helped these retailers maintain lower incidents of theft and mitigate the effects of retail theft on their profits.
Retail theft is on the rise across the United States, with major companies experiencing significant profit losses and safety concerns as large groups target stores. The National Retail Federation reports a 26.5% increase in organized crime and over 80% of retailers reporting a spike in violence and aggression associated with thefts. Retailers are investing in additional security measures such as cameras and security cables, but coordinated attacks continue to occur. Experts emphasize the need for tougher legislation and amendments to address this growing problem.
Retail executives from Walmart and Target are speaking out about the increasing threat of organized retail crime, which is impacting company profits and the safety of customers and employees. Recent incidents, such as a smash-and-grab at a Nordstrom in Los Angeles, highlight the severity of the issue. Walmart CEO Doug McMillon is calling for action at the local level to address the problem, while Target CEO Brian Cornell acknowledges the unacceptable amount of retail theft and organized retail crime. Both companies are working on strategies to combat shrinkage and reduce loss rates.
Giant Food grocery stores are implementing new security measures to combat a "tenfold" increase in theft, including hiring more loss prevention personnel, increasing store surveillance, and using new technology to track stolen items.
A Home Depot loss prevention worker, Blake Mohs, was shot and killed while trying to stop a shoplifting suspect in a California store. Mohs was due to marry his fiancée in August and was a well-known member of the community who helped keep customers and staff safe. The suspect, Benicia Knapps, was arrested on suspicion of murder, robbery, child endangerment, and conspiracy, while the driver of the getaway car, David Guillory, was arrested on charges of child endangerment, evading police, and driving the wrong way. Home Depot expressed its condolences and said it was "heartbroken over this senseless tragedy."
A 26-year-old Home Depot loss prevention employee, Blake Mohs, was shot and killed while trying to stop a shoplifter in Pleasanton. The suspect, a 32-year-old woman, shot Mohs during a confrontation and fled the scene with a 31-year-old man driving the getaway car. The woman's 2-year-old child was reportedly inside the car at the time. Both suspects were detained by Alameda County Sheriff's deputies, and the male suspect has been booked into Santa Rita County Jail. The woman suspect will reportedly be booked after she receives medical treatment.
America's biggest retailers have been warning about organized retail crime, which they claim has grown into a multibillion-dollar problem. However, the effectiveness of their strategies to solve it and the validity of the data overall have come into question. Studies from the National Retail Federation show retail shrink cost retailers $94.5 billion in 2021, up from $90.8 billion in 2020, but the data is largely qualitative and cannot be fact-checked because it's gathered from an anonymized set of retailers. External retail crime accounts for only 37% of those losses, or about $35 billion, the NRF data shows.