“Beware a monkey steal your belonging”
Reflections on a year in loss prevention…
An unusual title?
Perhaps!
“Beware a monkey steal your belonging” was a public information message I spotted whilst abroad recently.
Somehow it seemed an appropriate title for a look back at a year of retail loss prevention that brought unusual challenges around retail theft prevention and indeed dealing with shrinkage generally…
Professionally I will remember the year for two reasons.
The first is that 2023 saw the 30th Anniversary of Intrepid Security…
'“The other reason I will remember 2023 is for the alarming rise in both shoplifting and violence to staff. I find both despicable and the latter damnable. ”.
Noel Verbruggen - Intrepid CEO
I have written previously about how I started the business some 30 years ago. Looking back, there is no way I, even as an avid movie buff – including science fiction, could ever have imagined how radically different the world would become over three decades.
The advent of the internet and the ushering in of an age of omni-channel retail has seen the most profound changes in the industry. I remember seeing the first ATM. The first cash card from TSB. I remember Barclaycard launching in the UK and the furore about being able to pay, other than by cash or cheque (remember cheques!?!).
As an infamous fraudster once said, with omni-channel retail comes omni-channel fraud. And I have certainly seen enough to recognise the truth of that statement.
There was a time when loss prevention, before it became asset protection and then risk management to reflect the growing remit, was largely the domain of retired police officers either chasing thieves or light-fingered staff who had nicked stock or cash. Simpler times.
The other reason I will remember 2023 is for the alarming rise in both shoplifting and violence to staff. I find both despicable and the latter damnable. Some small consolation can be found in the way these things have forced innovation in retail loss prevention. Of course, we have the well-established technologies such as EAS tagging, CCTV installation and SmartTrack, but we also saw a proliferation of relatively new solutions such as personal cameras.
Intrepid was at the vanguard of retail theft prevention, offering the Freedom Case by Indyme to retailers. Not only did the Freedom Case show itself to be extremely effective in reducing shrinkage of high risk items, but also sales of items increased through better stock availability and, I believe, a more user friendly experience for customers and retailers alike.
Also memorable for 2023 were our two appearances at Retail Risk conferences, with a completely new look for the company – again to emphasise our three decades of longevity.
At Retail Risk – London our stand was a tongue in cheek representation of what my living room might have looked like in the 70s. And at least some of it was authentic… the “Eames chair” was actually from my flat in London at that time… and made a great raffle prize on the day.
When planning for Retail Risk – London we also realised that Abba had been going for as long as we had! So, in that spirit we gave away tickets to the Abba Experience – and the winner was Frank Burton from Primark. I like to think that as a quid pro quo Bjorn and Benny offered tickets to come and see us at Retail Risk by way of reciprocation…
Then there was Retail Risk – Leicester. What a show. Themed on the ageless Star Wars films, we gave away a stormtrooper helmet on the stand made by the original designer and creator of the very first stormtrooper armour – when George Lucas was a struggling Director/producer that nobody had heard of! The lucky winner was Martyn Bennett of Tesco. And I have to say, I was quite sorry to see it won!
On a personal level I will remember 2023 with mixed emotions…
On the one hand it was a year in which I seemed to be constantly in and out of hospital, trying to combat illnesses that have plagued me for most of my life but that needed finally to be dealt with. Being constantly under the knife or in recovery is tough for anyone, but especially I think at my tender age of 71.
However, it is the mental game of recovery that can become exhausting. And for that reason, the many calls and notes I received throughout the year from concerned professionals, enquiring of my progress and offering their best wishes meant everything to me in the battle to get well again. Thank you all.
Thanks to the skill of the medics and surgeons, my own dogged determination and the kindness of so many risk management colleagues I feel that I have now turned a corner and am looking forward to the next 30 years… Well, the alternative is less appealing!
“When planning for Retail Risk – London we also realised that Abba had been going for as long as we had! ”