Next LP: LP/AP's Role In The Future Retail Enterprise

By Read Hayes, Director, LPRC Research Scientist, University of Florida

LP professionals are quickly taking on new roles in the retail enterprise as technology changes and so do the criminals.

The retail industry is losing nearly $50 billion per year to theft in the U.S. alone. Plus, associates are increasingly being placed at risk, resulting in numerous injuries and deaths each year due to attacks from thieves. This results in an increased role for loss prevention and asset protection (LP/AP) professionals throughout the industry.

When asked about the changes in retail crime and how thieves will operate in the next 20 years, the survey panel ranked them by the most impactful to least:

• Increased use of technologies to commit crimes
• Increased crime by organized groups and gangs (ORC)
• Increased POS external fraud
• Increased employee dishonesty due to disloyalty
• Increased customer shoplifting
• Increased intracompany distribution and delivery theft and fraud
• Increased robberies and other violent crimes
• Increased "distant" supply-chain fraud
• Increased harassment and terrorism incidents
• Increased parking lot crime