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[[File:Asset_protection.jpg|thumb|A loss prevention agent is monitoring cameras for potential shoplifters from their workstation.]]
[[File:Target Protection Specialist.jpg|thumb|A uniformed retail loss prevention employee for [[Target Corporation|Target]]. Known as a Target Security Specialist ]]
'''Retail loss prevention''' (also known as '''retail asset protection''') is a set of practices employed by [[retail]] companies to preserve [[Profit (accounting)|profit]].<ref name="sennewald">{{cite
Retail loss prevention is geared towards the elimination of preventable loss.<ref>Alan Greggo and Millie Kresevic, ''Retail Security and Loss Prevention Solutions'' (2011), Taylor & Francis, pp. 228</ref> Most companies take this traditional approach by either having their own in-house loss prevention team or using external security agencies.
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=== External theft ===
{{main
External [[theft]] is when customers intentionally cause shrink by theft, fraud, or vandalism. Also known as shoplifting, thefts that occur in retail settings are done during business hours and involve the lack of security and prevention measures. Theft prevention can be done by reducing the opportunity to steal in the store through placing prevention mechanisms in place.
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Internal theft is when company employees intentionally cause shrink by theft, fraud, vandalism, waste, abuse, or misconduct. Since associates have access to the entire building and during non-business hours, they are capable of costing the company substantial losses over a longer period of time.
Internal theft is typically identified by reporting systems, first-hand visual/CCTV surveillance or tips from coworkers. It frequently occurs via dishonest operation of the [[Point of sale|Point
Internal theft traditionally causes more loss to a business than external theft due to the increased opportunity available to internal staff members. "A well-informed security superintendent of a nationwide chain of retail stores has estimated that it takes between forty and fifty shoplifting incidents to equal the annual loss caused by one dishonest individual inside an organization."<ref>Lawrence J. Fennelly (1999). ''Handbook of loss prevention and crime prevention''. 3rd ed. Woburn: Butterworth / Heinemann. 55</ref>
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=== Apprehensions and Recoveries ===
Many large retailers have in-store loss prevention employees who are trained to reduce shoplifting. This can come in the form of uniformed security officers, [[Store detective|undercover security]], or both. Each state allows stores to apprehend and detain shoplifters under [[Shopkeeper's privilege|shopkeeper's privilege laws]]. Apprehensions are typically a last resort after attempts to recover merchandise fail. An attempt to recover merchandise is known as a recovery or a "burn" and is generally one of the primary job duties of loss prevention associates. Many retailers operate in-store loss prevention teams including [[Target Corporation|Target]], [[Walmart]], [[Macy's]], [[JCPenney]], [[Nordstrom]], and [[Sephora]]. Teams generally have anywhere from
===Security tags<span class="anchor" id="Ink tags"></span>===
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===CCTV===
[[Closed-circuit television|CCTV]] (
===Receipt checks===
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==See also ==
* [[McAfee Institute]]
* [[Package pilferage]]
* [[Package theft]]
* [[Retail]]
* [[Revenue protection inspector|Revenue protection]]
* [[Shopkeeper's privilege]]
* [[Shoplifting]]
* [[Store detective]]
* [[
* [[Marge Be Not Proud]], eleventh episode of the seventh season of the American animated television series ''[[The Simpsons]]'', which deals with this subject.
==References ==
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