TIS THE


TALK TO ANY RETAIL LOSS PREVENTION PROFESSIONAL AND YOU WILL QUICKLY FIND OUT THAT THE WORD SHRINKAGE IS WHAT OFTEN KEEPS HIM OR HER UP AT NIGHT. TO HELP CANADIAN RETAIL OUTLETS REDUCE THEFT, FRAUD AND LOSS, PARTICULARLY DURING THE UPCOMING HOLIDAY SEASON, INDUSTRY MEMBERS HAVE BANDED TOGETHER TO DEVELOP A DATA- SHARING INITIATIVE THAT MIGHT JUST HELP THEIR BRETHREN SLEEP A LITTLE EASIER


T


he holiday season is quickly ap- proaching and that can mean only one thing for most people: a trip to the mall. For many Canadians, the holidays are all about buying that new Elmo toy or en- suring the present under the tree is ex- actly what the intended recipient wants (or sometimes needs). However, for Canadian retailers, the holiday season is about revenue and profit. It is the time of year that makes or breaks some retailers, which is why the


16 SECURITY MATTERS • WINTER 2011


SEASON By Dan Verbin


next few weeks for retail outlets is also about beefing up security and their loss prevention efforts to reduce theft, loss and overall shrinkage.


The fact of the matter is that global shrinkage, in general, for retailers is at its highest level since 2007. As a result, Canadian retail outlets are increasingly turning to their loss prevention teams to minimize internal and external theft by im- plementing new polices and procedures, not to mention deploying the latest


strategic technologies. According to the recently released


2011 Global Retail Theft Barometerstudy, shrinkage is up 6.6 per cent worldwide compared to last year. Canada is not im- mune. The country’s shrink rate increased a noticeable 4.9 per cent from 2010 levels to 1.49 per cent of retail sales or $3.630 billion US in 2011. This alarming trend, largely due to increased shoplifting, em- ployee fraud and reinvigorated organized crime rings, amounted to a $119 billion


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