The Next Retail Profit Opportunity

Retail Media Networks are already the fastest growing ad-supported media channel. In 2022, GroupM estimated that global retailers had $88 billion in ad revenue and in 2023 it will reach $101 billion with projections to grow by 60%.

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Loss Prevention Research Council Weekly Series – Episode 151

Thank you NRF and David Johnston. Congrats to Ring of Excellence, Read Hayes, Joan Manson, Chad McIntosh, Chuck Miller, and Keith White. 75% of consumers extremely to very concerned if retailers raise prices to cover cost of theft. 36% have stopped shopping at certain stores due to safety concerns. 26% would shop elsewhere and if their local store puts items under lock and key.

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Loss Prevention Research Council Weekly Series – Episode 150

Dollar Tree is considering locking up product due to theft. Ulta Beauty Sales Grow 12.3%, Although Theft is a Serious Concern. Worldwide, IHL is forecasting that the overall economic impact worldwide in retail from AI through 2029 will be $9.2 trillion dollars. The impact of AI in the coming seven years will be even a more significant advantage to larger retailers. Four retail segments will benefit the most from AI investments.

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Loss Prevention Research Council Weekly Series – Episode 149

The three major challenges which from discussions with technology companies and retailers have been elevated as the highest USA priorities for loss prevention are active shooter, safety, and organized retail crime. Locking up merchandise to reduce shrink reduces revenue and increasingly drives consumers to alternate retail models. Five takeaways about the consumer from Walmart, other retailers after a big week of earnings. Apple in the Smartphone Market: Win Where it Matters.

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Loss Prevention Research Council Weekly Series – Episode 148

81% reported an increase in retail shrink in 2022. Total apprehensions increased 45.6% and total recovery dollars from these apprehensions increased 70.5% in 2022. Shoplifter apprehensions and recovery dollars from those apprehensions increased significantly in 2022, up 50.9% and 90.5% respectively. Retail sales have fallen steeper in San Francisco than any other county in California. USA GDP growth slowed to a modest 1.1% annual rate from the average 3% in the previous two quarters.

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Loss Prevention Research Council Weekly Series – Episode 147

Top five USA grocery chains are Walmart, Amazon, Costco, Kroger, and Target. Due to crime, Giant Foods is now limiting self-checkout kiosks to 20 items per customer and closing at 10 PM in some stores. Around 40% of all working hours could be impacted by AI large language models such as ChatGPT-4. With AI 50% of organizations believe it will result in job growth and 25% think it will create job losses.

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Loss Prevention Research Council Weekly Series – Episode 146

Within five days of its release to the public in November 2022, ChatGPT had amassed a user base of over a million people. The top 5 tech driven strategies for retailers for the next 18 months are improving network and IT security (28%), new payment tech / capabilities (27%), advanced analytic tools and capabilities (25%). The retail sector in Australia and New Zealand lost about $4.3 billion a year through theft, a 28 per cent increase on four years ago when the last study was done.

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