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Top Take-aways from LPRC Impact 2017

Oct 9, 2017 9:19:52 AM / by Alexander Siera

lprc_impact.jpgLast week Spotcrowd founders attended LPRC Impact 2017. This annual 3 day conference attracted over 350 Retailer Executives, Asset Protection service providers, and Loss Prevention Research Council Members (LPRC). We got the chance to be one of the first to learn about the latest trends and greatest advancements in technology for the retail security industry.  

Weren't able to attend?
Looking for a highlight summary?

I've put together a list of the biggest take-aways that we shared with the rest of our team.


iLab 4.0

The LPRC iLab was an excellent display of all the newest and best hardware for retail security enhancements. The collection of latest AP technologies and solutions on the market featured various facial recognition techniques, RFID tech, DNA-spray, camera solutions, booster bag detectors, biometric tech, and more. Each vendor had a viable solution to various concerns in the industry. iLab is something that SpotCrowd would like to participate in next year. We think our live facial blurring technology and crowdsourced retail security live monitoring would be a hit. If you want learn more about our facial blurring tech, we'd love to show you a demo.

 

The C.R.A.V.E.D. Model

Brian Smith, Assistant Professor from  the University of New Haven. uses the CRAVED Model to explain why certain products are attractive and preferable to thieves. (ranked in order of importance)

  1. Concealable - easy to hide in pocket or bag
  2. Disposable - easy to sell or trade
  3. Available - easy to find and abundant
  4. Valuable - more expensive
  5. Enjoyable  - to own or use
  6. Removable - mobile, easy to carry

True stories from veteran shoplifters

At the conference the audience got the chance to ask questions to experienced shoplifters. Here are some of their remarkable answers:

"Every day I stole from multiple stores, often the same items."

"In thirty years I was not stopped once at the door."

"Within 15 seconds I can assess if I’m going to steal or not. If the store culture doesn’t care -- dirty, unorganized, lagging, low involvement from employees -- I know I have an easy day."

"I don’t care about cameras because I know they’re not being monitored."

"Every other day I would change my appearance...a suit one day, jogging outfit the next."

"Cameras don’t chase me out of the store, so I don’t care."

 

Remarkable statistics quotes and conclusions

  • Retailers don’t share info between each other but they want to...badly.
  • With little exception, the distribution of theft for a type of product follows the ‘80-20 rule’:  80% of store’s external theft is caused by 20% of the repeat shoplifters.
  • Most stolen products are 4 inches or smaller and priced $5 or higher.
  • NYPD focuses on repeat offenders because 20% shoplifters are responsible for 80% of all stolen goods.
  • There are far more white-collar criminals than ever before. Identity theft and new technologies such as credit card copiers and printers are the easier way to make money illegally. They are harder to catch because they are very mobile, operating virtually and crossing state lines.
  • Recurring theft is hurting retail more than it did in the past. With online access anyone can be a seller, making it easy for them to turn a profit from their shoplifting.

At SpotCrowd, we pride ourselves on staying current on the most effective ways to deploy technology in Retail and yield the greatest results. We can't wait for LPRC Impact 2018!

Topics: retail, lprc

Alexander Siera

Written by Alexander Siera

What is SpotCrowd?

SpotCrowd is part of the Techstars Retail 2017 program working on a crowd-sourced security camera monitoring solution for retailers. Anyone in the world who has a broadband connection can become a Spotter and earn money catching shoplifters in the act. Top notch real-time facial blurring technology and geo-fencing is used to protect customer privacy.

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