Is loss prevention going away?

Regular loss prevention measures are no longer enough to fight theft. Standard retail store alarms and hidden cameras aren’t enough to fight off theft. Cutting edge technology that is by nature a step ahead of shoplifters is what retailers are finding today.

What are 5 methods of loss prevention?

Preventing Shoplifting and Return Fraud

• Double Check Merchandise.
• Reorganize Your Space.
• Post Staff Around the Store.
• Require Receipts for Cash Returns.
• Ask for ID.
• Schedule Strategically.
• Set Up Security Measures.
• Hang Anti-Theft Signs.

Is loss prevention allowed to chase you?

Loss prevention personnel can conduct a citizen’s arrest, but they cannot legally charge you with a crime. Only the police have the authority to do so. Hold you for a minimal value item. Some policies prevent shoplifters from being held if they attempt to take an item below a certain value.

What are loss prevention strategies?

8 Proven Strategies for Loss Prevention

• Leverage Your Employees and Encourage Buy-In.
• Have Clear Policies.
• Use Clear Communication & Training.
• Update Accounting.
• Automate Inventory Controls.
• Use Strong Deterrents.
• Monitor Loss Trends.
• Adapt.

How does Walmart know if you steal?

Walmart Uses Image Recognition To Track Theft These cameras are placed near the cashier and self-service checkout in over 1000 stores to detect shoplifting activity using AI technology. The cameras track items instead of people and can detect when an item has been placed in the bag without being scanned first.

Does Walmart care if you steal?

Typically, Walmart doesn’t press charges or detain those caught shoplifting when the value of the items stolen is less than $25. In this case, they will encourage you to return the items and leave the store. If the value of what you have stolen is between $1000-$2000, then this is classed as a class 6 felony.

What are the chances of getting caught shoplifting?

According to a recent National Retail Security Survey, the odds of getting caught shoplifting are 1 in 48. And each year, Inventory shrink costs the US retail industry $45.2 billion, according to data from NRF.