The Wall Street Journal recently stated that commercial burglaries have almost doubled in New York City since March 12 when a state of emergency was declared. Reason being, thieves are targeting nonessential businesses that have shuttered locations as a result of government directives or are robbing essential businesses that would likely have more cash on hand. Multiple retail organizations are also reporting an increase in shoplifting attempts and point of sale shrink since the beginning of the coronavirus outbreak. In times like these, as a rise in theft, burglaries and other disturbances are expected, security is more important than ever.
The National Retail Federation welcomed a nearly $500 billion package set for a vote in the Senate that would increase funding for loans to small businesses and provide other economic aid during the coronavirus pandemic.
In retail, brick-and-mortar stores experience loss or shrink due to shoplifting, fraud, employee theft and human error. To mitigate against this, many have dedicated loss prevention (LP) personnel who use a variety of tools, including in-store video surveillance systems and point of sale (POS) systems, to deter and investigate theft. But, despite the continued best efforts of LP teams, shrink is on the rise.
U.S. Senator Bill Cassidy, M.D. (R-LA) introduced legislation to fight the online sale of stolen, counterfeit and dangerous consumer products by requiring extensive transparency of large-volume third-party sellers in online retail marketplaces.
Retailers today face a number of security challenges, including shoplifting, shrink and theft at the point of sale, protecting the premises after hours, slip and fall lawsuits and much more. Adding complexity to the security challenge is that retailers face these threats in a variety of locations within stores, each of which comes with its own unique requirements. Today’s flexible, intelligent surveillance cameras offer a variety of form factors and capabilities that allow them to address the range of security and operational challenges.
Loss prevention professionals as well as those who aspire to work in loss prevention in the United States and Canada can apply for Vector Security’s annual Loss Prevention Foundation (LPF) scholarship program now through March 31, 2020.