Saving the Sale: LP's Newest Hat

By Patrick O'Leary, Vice President & General Manager, Nedap Retail

Everyone in the retail profession knows that the face of Loss Prevention/Asset Protection (LP/AP) has changed several times over the last several decades, with good reason. Although it may seem untrue at times, the retail industry changes quite frequently. When gasoline prices increase, retail sales soften. When the housing market is booming, retail sales also improve. And those are just the first layer of levers that affect retail sales. Deeper KPI's, such as the unemployment rate, can have a long-lasting impact on sales, both good and bad depending on the actual rate. Yet, regardless of how consumers react to whichever lever is pulled, how each retailer will fare is determined mostly by one very important factor: inventory levels.

Time for Another Change
Going from the title of Loss Prevention to Asset Protection never became a mandate. In fact, the departmental name change was such a slow burn in the industry that it actually fizzled out before fully catching on. Today, both terms are used interchangeably for the most part. However, some say a new change in titles is looming on the horizon, and an increasing number of indicators tends to support the claim. Imagine LP/AP executives having new titles designed to describe the one area in which they can make the most impact on the health of an organization. What might that title look like? Some say a new title that is inclusive of Inventory Management. After all, poor inventory issues, such as out-of-stocks, are costing retailers $984 billion in lost sales worldwide, $144.9 billion of which is from North America alone. That's 984,000,000,000!

With inventory levels emerging as the top priority for retailers' survival, someone has to take the proverbial bull by the horns and start making some positive waves. Who better than the LP/AP department? Truth be told, there is no department in retail more equipped to address this problem than LP/AP professionals. The LP/AP department is the only team with its hands deeply embedded in every other department. From Merchandising, Operations and Logistics, to Procurement, Human Resources and Financial Accounting, no other department can make a more positive impact in the shortest possible timeframe.

The Current State of Retail
In recent webinar hosted by the IHL Group, a leading global research and advisory firm specializing in technologies for the retail and hospitality industries, it was revealed that consumers experience an out-of-stock situation as often as 1 in 3 shopping trips. According to the IHL Group, the consumers define an "out-of-stock" as any time they come into a store with intent to buy and leave for any reason other than the price is too high. This could mean that a store may have the desired item somewhere in the store, such as the rear stockroom or in the wrong location, but the shelf that was supposed to display the item was empty. Either way, poor inventory management is the culprit.

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Zippin Rolls Out Checkout-Free Concept Store
Tech Platform Can Be Deployed By Any Retailer
Zippin integrates its own software with readily available hardware, for other grocers to deploy
Now that Amazon has set the bar for frictionless checkout, other companies are vying to match the competition with checkout-free options of their own.

Zippin is launching its next-generation, checkout-free software platform that enables retailers to quickly deploy frictionless shopping in stores. The San Francisco-based startup has also opened a concept store in San Francisco's SOMA neighborhood.

Zippin, founded by industry veterans from Amazon and SRI, opened a "just walk out"-enabled concept store in San Francisco's SOMA neighborhood. In a statement, Zippin notes that while early approaches to autonomous shopping have relied solely on cameras to track purchases, its technology uses a combination of overhead cameras and smart shelf sensors for a higher level of accuracy. And to showcase its automated shopping technology in a real-life retail environment. On leaving the store, customers receive a receipt detailing their charges.

Consumers in the U.S. waste almost 37 billion hours a year standing in line, and a significant portion of that is spent waiting in retail checkout lines. Zippin's patent-pending approach uses AI, machine learning, and visual cognition technology, to create the best consumer experience: banishing checkout lines and self-scanners, and letting shoppers zip in and out with their purchases. The secure and trusted Zippin platform can be easily and quickly deployed by any retailer wanting to offer autonomous, checkout-free shopping. cstoredecisions.com  retailwire.com

Fazoli's Restaurant Rolls Out Crossmatch® Fingerprint Biometrics to Improve Operational Efficiency and Reduce Fraud
Crossmatch®, a globally-recognized leader in biometric identity management and secure authentication solutions, today announced that Fazoli's Restaurants, the leading quick-service Italian restaurant chain in the U.S., completed its rollout of Crossmatch U.are.U® fingerprint readers. Each of the over 200 Fazoli's corporate and franchise locations across 26 states were upgraded to use biometrics at the point-of-sale (POS) to improve efficiency, ensure correct staffing levels and reduce fraud. prnewswire.com

27% of US Enterprises Take Months to Install Vital Security Updates
More than a quarter (27%) of enterprise IT departments in the US are forced to wait at least a month before installing vital security updates, due to budgetary restraints and overly complex infrastructures. That's according to Kollective's new 'State of Software Delivery' report that examines the software testing and distribution bottlenecks throughout large organizations.

The failure to rapidly deploy and install security updates is placing businesses at greater risk of a targeted cyberattack, as hackers look to exploit the vulnerabilities of outdated systems. Kollective's report also found that 37% of IT managers list 'a failure to install updates' as the biggest security threat of 2018. securitymagazine.com

6 Reasons Security Awareness Programs Go Wrong
While plenty of progress has been made on the training front, there's still some work ahead in getting the word out and doing so effectively.

Good news on the security awareness training front: Wombat Security reports that 95% of companies they surveyed now train end users on how to identify and avoid phishing attacks, up from 86% in 2014.

Even more good news: The training also has had an impact. Roughly 54% of security pros said they have been able to quantify reductions in phishing susceptibility based on training activities, according to Wombat's "2018 State of the Phish" report. "A few years ago many scoffed at the idea of security awareness training, but now they realize that it can only benefit their company."

Yet there's still some work ahead in getting the word out and doing so effectively. That means understanding where companies go wrong with their security awareness training - and how to correct it.

1. Security Pros Get Too Technical with Top Management Security pros often get too bogged down in the details of an ongoing program and don't focus on the big picture.

2. Companies Don't Spend Enough Time Training Execs With Financial Responsibilities Top officials, from people on the executive board and in the C-suite to the financial team and the procurement department, require more specialized training on the cyberthreats facing their companies, he says. These people are high-value targets to cybercriminals.

3. Managers Across the Business Aren't Encouraged to Participate By getting buy-in from the other managers, security pros can convince them to encourage their direct reports to attend the awareness training. For the rank-and-file, if their supervisors want them to participate, that's usually enough.

4. Companies Don't Recruit Natural Leaders Many companies don't think of creating a task force for the security awareness program. Security pros should seek out natural leaders - people who may or may not be technical but are the life of the party at company gatherings or always speak up at companywide meetings.

5. Companies Don't Sell the Personal Benefits of Security Awareness Programs  Security awareness has become more than a business issue - it's a modern life skill issue. HR departments need to play up that training aspect when they recruit new employees. It's know-how they can take with them throughout their careers.

6. Companies Don't Plan Properly or Test Thoroughly Enough Before conducting any tests, it's important they are trained to think through the types of attacks that are important to monitor, how they want to group the users, and what they want to measure. Run more proactive red team/blue team tests that culminate with explaining to executives how they could respond more efficiently to a security issue. darkreading.com

Ukrainian Hacker Gets 6 Yrs Trafficking $31M in Stolen Financial Info
Yeliseyev was arrested while vacationing in Israel and has been ordered to forfeit more than $200,000 and pay roughly $32,000 in restitution.

"For over six years, the defendant, Ruslan Yeliseyev, trafficked in personal financial information that had been stolen from over 62,000 victims," Yeliseyev purchased stolen credit card information connected to roughly 213 U.S.-based accounts that were later used to enter into fraudulent transactions with online merchants, according to the indictment.  law360.com

Going Cloud First: Risks to Consider
Companies are always concerned about cloud security, but may overlook other factors in cloud adoption, such as the impact on performance. networkcomputing.com

7 Threats Your E-Commerce Business Might Face
As more and more businesses tend to shift online these days, people are met with unprecedented risk factors. These risks are undeniable, and finding their solutions is of utmost importance, since they prevent consolidation of the firm. Following are seven of such risks, with their potential solutions:

1. E-Commerce Online Security
The number of Internet users is globally increasing. With this, the chances of hacking and data phishing are also rising. To protect your business, using stronger passwords and employing multi-layered security system on websites are wise options.

2. E-Commerce Intellectual Property
Intellectual property is the one which is copy-righted, and always met with the dangers of theft. Legally auditing and patenting your content and sites can reduce the risks.

3. Customer Disputes
Dissatisfied customers often fall out from companies, causing major economic setbacks. However, their issues are normally trivial and can be solved with just a little effort. The most common complaints revolve around product and payments. Make sure that your company does not charge people until shipments have been made. A clear refund policy also helps.

4. Product Warehousing and Logistics
It has been found that a huge percentage of online shoppers find guaranteed delivery dates important. Therefore, ensuring that your company does not run out of products by proper stock management would help a lot. Plus, professional delivery services would allow products to be dropped correctly, and on time.

5. Customer Service
Appeasing customers should be a business' top-most priority. Personalization, chat bots and quick response mechanisms promise better customer experience and increase loyalty.

6. E-Commerce Taxation
It refers to sales tax associated with an online sale. According to Nexus, the "state cannot obtain tax jurisdiction over a retail until there's a physical connection between the two". For this, making a physical location your office might be a good idea.

7. E-Commerce Website SEO and Marketing
Algorithm updates risk insufficient traffic on a website. To prevent that, developing and practicing a well-planned marketing strategy, using keywords for homepages, and using social media for marketing can be done. digitalinformationworld.com

Amazon's fakes problem hits lower-priced brands hardest
While upscale brands have made the loudest noise about knockoffs sold by third-party sellers through Alibaba, Amazon and others, lower-priced brands on Amazon may be more vulnerable because of their greater presence on its marketplace, according to research from e-commerce insights firm Gartner L2 emailed to Retail Dive.

The top-selling products on Amazon are priced under $50, and that makes low- to mid-priced brands prime targets of unauthorized distribution, according to the report.

Customer claims of counterfeiting are widespread on Amazon: A third of all unique products listed by third-party merchants garner a review that calls the product, often a fashion or beauty item, a "fake" or "counterfeit," Gartner L2 found.

And while Amazon has worked to combat counterfeit sales of luxury beauty brands, it's done little for high-end brands in other categories, and less for lower-priced brands. retaildive.com

Bernie Sanders presses Amazon to improve working conditions
U.S. Senator Bernie Sanders last week began circulating a petition addressed to Jeff Bezos, urging Amazon's CEO to improve working conditions and wages at its warehouses. The Vermont senator is also slated to introduce a bill to the senate on Sept. 5 that would impose a 100% tax on government benefits received by employees at companies with more than 500 people. The move would follow reports that many of Amazon's warehouse workers rely on federal assistance for food purchases.

Amazon also came under fire on Twitter last week for deploying at least 16 "fulfillment center ambassadors" on the social media platform to calm conversations regarding labor practices at Amazon. The company clarified to multiple media outlets that the accounts did not belong to bots, but real people. retaildive.com

E-commerce Performance Indicators & Confidence (EPIC) Report Finds 91% of Retailers Expect Online Revenue Growth With Increased Focus on Personalization, Mobile & Customer Experience

Delaware, OH: Five indicted in $50,000 theft at multiple Home Depot stores
A Delaware County Grand Jury has returned a 13 count indictment against five people who committed several thefts targeting Home Depot stores. The group includes Lindsey Clifford, 27, Antonio Estrada, 26, Donald Gorey, 47, Shelley Hagerman, 38, all of Columbus, and Leanna Luna-Jimenez, 25, of Hilliard.

"Surveillance video shows members of the group arriving at a Home Depot store together, but going inside separately," said Delaware County Prosecutor Carol O' Brien. "A cart would be filled with tools and taken past all points of sale." According to the Delaware County Prosecutor's Office, the Home Depot stores targeted by the group include the Powell, Columbus and Dublin locations. "Not all members of the group participated in each instance of theft, but together the total in stolen merchandise is estimated to be at least $50,000," O' Brien said. "It is likely that amount will increase, as each instance saw an estimated $1,500 to $5,000 in losses for the retailer." The group allegedly committed more than twenty incidents of theft against Home Depot during the period of indictment.  nbc4.com


Houston, TX: Deputies searching for 4 suspects accused of stealing at least $18,000 in merchandise from Home Depot
Precinct 1 deputies are searching for at least four people who are accused of stealing thousands of dollars of merchandise from Home Depot stores in Harris and Fort Bend counties. Dating back to April, deputies say the suspects would run from the stores with unpaid merchandise.
The thieves are believed to have stolen at least $18,000 in inventory from nine Home Depot stores.  abc13.com

Fraud Gang of Six Busted in San Carlos, CA., Hotel
Six people on probation were arrested at a Residence Inn in San Carlos Thursday morning for various crimes involving identity theft, such as possession of blank checks, counterfeit credit cards, burglary tools, credit card skimmers and more, the San Mateo County Sheriff's Office announced Friday. Upon searching the individuals and their hotel rooms, detectives discovered more than 200 fraudulent credit cards, checks, items for manufacturing fake credit cards, skimming devices, ammunition and a large amount of what was thought to be methamphetamine. The investigation is ongoing, and anyone with information on these cases is asked to call task force Agent Gross at (650) 573-3229 or Detective Burnett at (650) 802-4290.  sfgate.com

Update: Baltimore, MD: Three women convicted in Organized Retail Theft ring; Pink, Ulta, Dick's Sporting Goods and Victoria's Secret
Three women pleaded guilty in Baltimore Circuit Court to theft charges in connection to an organized shoplifting ring targeting stores such as Dick's Sporting Goods and Victoria's Secret, Maryland's attorney general announced Friday. Two of the women, Tyrayah Graham, 23, and Tiara Baker, 20, were convicted of conspiracy to commit a theft scheme of $100,000 or more, Attorney General Brian E. Frosh said. A third woman, Donna Moye, 40, pleaded guilty to theft scheme over $100,000, Frosh's office said. Frosh said Graham and Baker acted as high-level "boosters," shoplifting merchandise they planned to re-sell. Moye acted as an intermediary between the "boosters" and a "fence" who ran a store of stolen goods at a home on N. Port Street in Baltimore.

The women stole thousands of dollars worth of merchandise at multiple locations between January and June of last year, some of which was captured on surveillance video, the state's attorney's office said. The women targeted clothing, accessories and make-up retailers such as Dick's, Victoria's Secret, Pink, Hollister and ULTA. They advertised goods for sale on Instagram. Baker was sentenced to six years in prison, which will run concurrently with a sentence in an unrelated case. Moye was sentenced to 10 years, with all but time served suspended and three years' supervised probation. Graham will be sentenced on Sept. 25. Cases involving two other defendants, Lisa Williams and Lyric McLaughlin, are pending in Baltimore Circuit Court. baltimoresun.com

Update: 5 Restaurant Employees charged in $70,000 Gift Card Theft; 3 enter plea agreement
Five former Arizona Family Restaurant employees were indicted in late May and three have entered plea agreements on fraud and theft charges. Each were indicted on one count of fraud and theft of property and three counts of theft of a credit card by a Pima County grand jury May 25. The owners of the Green Valley restaurant were reviewing their financial reports last September when they discovered 13,000 gift card sales, which they found unusual. They then discovered several employees had been ringing up gift cards and keeping the money for themselves. More than $70,000 was stolen over the course of nearly four years. gvnews.com

Ninilchik, AK: Alaska State Troopers bust man in $85,000 Seafood Burglary

Staten Island, NY: Two women hit two CVS locations for over $1,600 in beauty products and medicine

Cumberland County, PA: Man arrested after stealing over $1000 worth of computer equipment from Walmart

El Paso, TX: Mexican trucker charged in connection to semi trailer thefts
Deputies and detectives with the El Paso County Sheriff's Office investigating reports of stolen semi-trailers in the Horizon City area arrested and charged a 52-year-old Mexican man. On Friday, August 17, 2018, deputies arrested Antonio Baltierrez Madriles at a gas station. Baltierrez was booked into the El Paso County Detention Facility and charged with "Theft of Property over $2,500 and under $30,000." On July 16, 2018, deputies began investigating the theft of a semi trailer at the Flying J Truck Stop in Far East El Paso County.

A GPS tracker in the stolen semi indicated the cargo vehicle was in Mexico. On July 25, 2018, investigators learned the semi-trailer was crossed into Mexico at the Bridge of the Americas. Investigators obtained surveillance images of the semi truck transporting the stolen semi-trailer into Mexico. Court documents state investigators researched the registration information for the semi truck seen in the surveillance footage and linked it to a company in Mexico. The criminal complaint against Baltierrez states, "the company and the truck tractors have been linked to multiple thefts of semi trailers crossed into Mexico."

Investigators learned Baltierrez was "one of the drivers for the company," the court document states. Baltierrez was allegedly identified as entering the U.S. from Mexico the day of the trailer theft, then seen driving the same tractor trailer hauling the stolen semi-trailer back into Mexico, the complaint affidavit states. The estimated value of the stolen semi trailer is $25,000, court documents state. kvia.com

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