Delegates at the Retail Risk – London conference last week were the first to experience the new live and interactive Retail Risk – Global Survey.
Since 2011 Retail Knowledge’s Surveys of retailers primarily in the US, UK and Australia have become an indispensable tool for the industry to benchmark operations and find practical ways to beat fraudsters.
The new Retail Risk – Global Survey uses a new methodology which for the first time enables participants in the Surveys to vote and share information anonymously, by logging on to a secure third party website.
Figures for shrink levels and for some aspects of loss prevention resources are markedly different in the latest Survey, a change which could well be due to confidentiality.
The same survey method will be used at all future Retail Risk conferences globally, enabling retailers to make international comparisons, to see how threats are changing geographically and to track those changes year on year.
The findings will be distributed to participants in the Survey. Retailers interested in taking part in future Retail Risk – Global Surveys should register for upcoming conferences (free to all retailers) at www.retailrisk.com
In contrast to previous Surveys, the first Retail Risk – Global Survey shows that the biggest area of store loss for UK retailers is internal theft. The new prominence given to internal risk could also be due to the confidential survey method.
The Survey collected data on the main sources of retail loss instore and online, store loss and online prevention systems used by retailers, technology they are investigating and their perceptions of the greatest risks and emerging risks.
The results reflect the continued growth of omnichannel retailing. 85% of respondents have a transactional e-commerce channel, up from 73% in last year’s UK Retail Fraud Survey.
The Survey also collected data on loss prevention teams’ functions and the degree of integration of risk management across the in-store and online retail spaces.
It asked many of the same questions as previous Retail Risk Surveys, and many new ones as well, suggested in discussions with the industry.
Participants were asked to sum up their day (at the Retail Risk – London conference and the co-hosted eRisk – London conference) in one word.
Responses ranged from ‘fantastic’ and ‘awesome’ to ‘interesting’, ‘insightful’, ‘enlightening’ and in 8% of cases ‘OK’ or ‘mixed’. There were no negative responses to this question.