Tony D'Onofrio
Tony as Co-Host/Guest
Loss Prevention Research Council Weekly Series - Episode 150 - The $9.2 Trillion Retail Economic Impact from AI Through 2029
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
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.
Loss Prevention Research Council Weekly Series - Episode 149 - Retail Shrink Challenges, Retailers' Earnings 5 Takeaways, Apple Market Share
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
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.
Loss Prevention Research Council Weekly Series - Episode 148 - Latest Retail Shrink Survey, San Francisco Store Closures and State of USA Economy
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
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.
Loss Prevention Research Council Weekly Series - Episode 147 - Top 5 USA 2023 Grocery Chains and Future of Jobs with AI
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
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.
Loss Prevention Research Council Weekly Series - Episode 146 - ChatGPT, Retail Tech Priorities and Australia Retail Shrink
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
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.
Loss Prevention Research Council Weekly Series - Episode 144 - Interview with Kroger's Kevin Larson
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Kevin's perspective on his career, surprises, asset protection & its evolution, data analytics, his work at LPRC, working across boundaries, integration, and the future of loss prevention.
Loss Prevention Research Council Weekly Series - Episode 143 - Inflation, Retailer Returns, and More Shoplifting News
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Due to inflation, the UK English Breakfast was up an astounding 22% in February. Worldwide retailer returns have grown from $643 billion in 2015 to an amazing $1.8 trillion in 2022. Women’s dresses purchased online have a return rate as high as 90%. For the United States, the top three products with highest inflation are eggs at over 55%, butter and margarine at nearly 27%, and airfare at 26.5%. Retailers are relying on loss prevention tech to curb shoplifting.
Loss Prevention Research Council Weekly Series - Episode 142 - Happiest Countries and LP Inspired Retail Ad Revenue
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
RILA AP Conference amazing turnout! Open House at our Labs a great success! Happiest countries, Roe v. Wade leak and potential protests, ORC data for 2021, Apple lawsuit over NFC use, and increased digitization of retail. Global retailers had $88 billion in ad revenue and in 2023 it will reach $101 billion. LP can have a major role in growing ad revenue. Amazon had 76.9% of the total retail media spend in 2022. Big opportunity for Walmart.
Loss Prevention Research Council Weekly Series - Episode 141 - 2023 IT Tech Investments & Retail Crime Epidemic
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Potential Trump indictment, new Chat GPT 4 & its capabilities. The 2023 retail forecast is for 6.9% sales growth. Store IT spend is expected to increase by 4.0%, store counts up 3.5% in 2023 and 3.7% more store remodels. Topping the list of IT priorities is Personalizing the Customer Experience. Inventory visibility was a close second. America’s biggest companies say retail crime is an epidemic, but just big of a problem is it?
Loss Prevention Research Council Weekly Series Episode 140 - USA Retail Crime Trends and Shopping While Drunk
ICSC Summit for Organized and Violent Crime. AI in retail including text to video and generative video AI, and USA banking issues. Major retailers such as Macy's, Target, and TJX report higher shrink in WSJ article. New York City Mayor Eric Adams said some store customers who wear masks are more likely trying not to get caught shoplifting than stopping the spread of COVID. USA consumers spent $14 billion while drunk.
Loss Prevention Research Council Weekly Series Episode 139 - The Top 250 Global Retailers, Amazon No-Go, and Retail Fatalities 2022
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Predictions from Chief Economist of Deloitte Global on what to expect in 2023. The top 10 retailers represent 34% of the total revenue of all top 250 global retailers. Apparel was fastest growing sector with highest profit margin at 9.8%. Amazon closing 8 Amazon Go stores. For 2022, retail violence incidents were up 17% and alarmingly fatalities were also up 17%. Parking lots at 53% had the highest fatalities.
Loss Prevention Research Council Weekly Series Episode 138 - USA Economic Signals and Growth of RFID
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Quantum computing breakthrough, ChatGPT in Bing gets a little crazy on Valentine’s Day. More Chinese spy balloons. Walmart & Home Depot results forecast USA economy. In 2022, the problem of inventory distortion worldwide totaled an astounding $1.993 trillion. Retailers already using RFID in 2022, 83% had higher sales growth and 80% had higher profits.
Loss Prevention Research Council Weekly Series Episode 137 - Valentine fun facts and New ATF Gun Crime Report
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
More unidentified objects shot down over US and Canada. US government was tracking ballon from take off, and train derailments. Thank Henry VIII for Valentine holiday. 67% of Americans said they plan to spend either the same or more in 2023 as they did last year on retail purchases. More than 1 million guns were stolen from private owners from 2017 to 2021. Number of suspected ghost guns recovered by law enforcement agencies & sent to ATF for tracing increased by 1,083% from 2017 to 2021.
Loss Prevention Research Council Weekly Series Episode 136 - Amazon halts Fresh Stores and US Secret Service Mass Attacks Research
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Amazon currently has 44 Amazon Fresh locations and 28 Amazon Go stores in the U.S. The company also took a $720 million impairment charge in the fourth quarter related to property, equipment, and operating leases at its physical stores. The common places for mass attacks were businesses, including restaurants and retail. 96% of the attackers in the study were male. 72% of the attackers experienced a financial stressor some time before the attack.
Loss Prevention Research Council Weekly Series Episode 135 - Perspectives from the National Retail Federation
With Dr. Read Hayes, Tony D'Onofrio, Tom Meehan, and Guest David Johnston, NRF VP of Asset Protection and Retail Operations
David answers questions about NRF priorities, 2023 LP predictions, Big Show takeaways, NRF LP Council, value of industry groups, retail violence trends, and the increased importance of retail loss prevention.
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It is a Small World
“Even monkeys can fall from their trees.” – Japanese Proverb
Continuing our global learning journey, our next stop is Tokyo Japan. Founded, in 1603, this city was once a small fishing village called Edo. In 1890, it became Tokyo which means Eastern Capital in English.
In Tokyo, you will find the world’s busiest intersection, the Shibuya crossing where 2,500 people cross the intersection, every time the lights turn green. This city also holds the record for the most Michelin starred restaurants at 212 places to enjoy amazing food.
Tokyo is the most populous city in the world with 37 million people. Uniqueness is everywhere, even in vending machines, where you can buy hot meals, fresh produce, and even umbrellas. There is one vending machine in the city for every two people.
Have lost count on the many times I visited Tokyo to experience their modern retail industry. This picture is from the New Otani Hotel gardens, a favorite during multiple visits.
As the Japanese proverb that opened this summary reminds us, no matter how accomplished we become, you can always make a mistake. Overconfidence can lead to missteps. Life is one sweet ride and Japan provides many reminders on how to enjoy it.
Categories
Brilliant Research
Retail’s Hidden Advantage: How RFID & Computer Vision’s Radically Improve Operational Improvements
Companies that are already using RFID technology in our study averaged profit growth in 2023 that was 57% higher than those who do not. And they are expecting their profits in 2024 to be 88% higher than those not already using RFID. Companies are 34x more likely to use computer vision already and 35% more likely to invest in computer vision in 2024 than below average performers. - From IHL Services Read more
Smart Infographic
AI in Retail Organizations: Not Everyone Sees Eye to Eye
More than half of respondents are leveraging AI in some capacity across their businesses today. More than half of CEOs of enterprise-level businesses believe that the role of AI-based technology is fundamental to the future of retail. - From Digital Commerce 360
Insightful Videos
The World Ahead 2024: five stories to watch out for
From the biggest election year in history, to how to control AI and even taxis that fly, The Economist offers its annual look at the world ahead. Read more
