In a discussion centering on the importance of involving C-level executives in companies’ loss prevention efforts, GameStop CEO Paul Raines will be joined by Albuquerque Chief of Police Ray Shultz and William Titus, VP of Loss Prevention for Sears and NRF Advisory Council Chair, during the keynote address at the National Retail Federation (NRF) 2011 Loss Prevention Conference & Expo, June 13-15 at the Gaylord Texan Resort & Conference Center in Dallas, TX.. The show also will feature turnkey insights delivered by executives from retail companies including: Vitamin Shoppe, Saks Fifth Avenue, Pier 1 Imports and PETCO.
The show’s Expo Hall will feature more than 200 solution providers showcasing solutions designed to cater to the next generation of loss prevention challenges, which include the need to protect retailers’ assets, reduce shrink, fraud and manage risks.
Other conference sessions focus on a broad array of risk and loss prevention issues for malls and shopping centers in particular, including:
“We’re seeing a lot of really exciting changes as it relates to things like point-of-sale (POS) and even how basic credit cart transactions are done,” noted NRF Senior Asset Protection Advisor Joe LaRocca, in a video on the NRF “Retail’s BIG Blog.”
“Technology is going to really change the way we do bus in loss prevention and retail overall, but we need to be on top of it,” stated LaRocca. “During the conference we’re going to spend a lot of time focusing on things like mobile POS, touchless pay systems…things like Near Field Communication (NFC) to make purchases at the register. By understanding those technology changes now, we’ll get in front of the risks and problems we’re going to see two, five, even seven years from now.”
Analytics Driving Next-Gen Anti-Theft Solutions
Among the relevant retail news scheduled to be announced during the LP convention, The Retail Equation will showcase a newly developed method designed to sift through data and identify organized crime rings that can be displayed in a visual tool to help retailers link individuals and graphically display retail fraud rings.
The tool uses encrypted credit card information, customer loyalty cards and/or a consumer ID number to create a return history on each customer and link that individual to other customers using the same information. According to The Retail Equation, the new visual tool has helped one New York City-based retailer identify numerous individuals and automatically linked them to one another with a statistical analytics model. Then, using the visual tool, the retailer was able to graphically plot the individuals to depict their connections to one another, with a more comprehensive view into ongoing fraudulent behavior.
“The [Loss Prevention Conference & Expo] consistently attracts the largest retail LP community of the year,” said Tom Rittman, VP Marketing, The Retail Equation. “We’re pleased to see increasing attention on the point-of-return by loss prevention professionals in the retail industry; it’s an important place to differentiate the consumer experience, as well as identify and prevent fraud — a $14-18 billion annual problem. Since organized retail crime involves various forms of return fraud, we are introducing a new tool at the show to help distinguish and deter these fraud rings for retailers.”
Loss Prevention Awards
During the event on Tuesday, June 14, the NRF will honor winners of the Loss Prevention Awards during a ceremony presented by Richard Hollinger, Ph. D., Professor of Criminology, Law and Society at the University of Florida, and Melissa Mitchell, Director of Loss Prevention at LifeWay Christian Stores. Nominees include loss prevention professionals and law enforcement partners. The NRF will recognize organizations with the following awards: Law Enforcement Retail Partnership Award; Loss Prevention Case of the Year; and Ring of Excellence and will be compared to last year’s trends.