Tony D'Onofrio
Tony as Co-Host/Guest
Loss Prevention Research Council Weekly Series - Episode 188 - EAS vs RFID, Crime in California, and Post Pandemic Review
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
One retail customer that experimented with eliminating hard tags from its LP programs saw shrink more than double in test locations within one year. Another retailer saw shrink grow 40% to 70% in test departments in just seven weeks. A third retailer saw shrink increase by 40% in stores or categories where tags were removed — but not elsewhere in the store.
Loss Prevention Research Council Weekly Series - Episode 187 - Digital Acceleration and the Top 5 Global Risks for 2024
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Americans are now roughly twice as likely to prefer getting their news from digital devices than television. Three-in-ten USA adults regularly get their news on Facebook with YouTube coming in second at 26%. For GenZs, one-third regularly scroll TikTok for news, up 255% since 2020. AI impact for retail by 2029 will reach $9.2 trillion dollars.
Loss Prevention Research Council Weekly Series - Episode 185 - Retail workers safety concerns and top consumer fears of online marketplaces
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Most retail workers feel unsafe; want better planning, security. The top consumer fears about online marketplaces are… LA Sheriff says it busted a retail crime ring with millions of dollars of stolen medications and personal care products
Loss Prevention Research Council Weekly Series - Episode 184 - UK / USA crime and Self-Checkout Challenges
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
In UK, of the 408,690 police-recorded shoplifting offences in England and Wales in 2023 that were assigned an outcome, 16% were charged or summonsed while 58% of the investigations were closed with no suspect identified. In USA while the rate of reported violent crime fell 2.1% between 2021 and 2022, total violent crime—reported and nonreported—rose from 16.5 incidents to 23.5 per 1,000 people. Nonreported violent crime in 2022 exceeded the 2015-19 average.
Loss Prevention Research Council Weekly Series - Episode 183 - Interview Insights from Michael Lamb
With Dr. Read Hayes and Tony D'Onofrio
An interview with Michael Lamb, former Loss Prevention Vice President at Home Depot, Walmart, and Kroger. What will Mike focus on next?
Loss Prevention Research Council Weekly Series - Episode 182 - The Game Changer Technology of Retail RFID
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
61% of retailers plan to implement RFID in their stores by 2026. Companies that are using RFID in their retail operations averaged profit growth that was 57% higher than those which did not. For 2024, the same companies are expecting profitability to be 88% higher than those not already using RFID.
Loss Prevention Research Council Weekly Series - Episode 181 - Who is stealing at self-checkout?
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
One study of retailers in the United States, UK, and other European countries found that companies with self-checkout lanes and apps had a loss rate of about 4%, more than double the industry average. 15% of self-checkout users confess to purposely stealing. While 60% of those who have stolen felt remorseful and 33% say they’ve been caught, 44% say they’ll likely do it again. 31% of Gen Zers and 21% of millennials have purposely taken an item without scanning it.
Loss Prevention Research Council Weekly Series - Episode 179 - Inside Organized Retail Crime Rings
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
We’re talking about operations that have fleets of trucks, 18-wheelers that have palletized loads of stolen goods, that have cleaning crews that actually clean the goods to make them look brand new. “The financial impact is real, but way more important is the human impact, the impact it has to our associates, the impact it has to our guests,” Ulta CEO Dave Kimbell told CNBC in a rare sit-down interview.
Loss Prevention Research Council Weekly Series - Episode 178 - Apple Next Big Thing, Branding, INTEGRATE, and AI Biases
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Loss Prevention Research Council Weekly Series - Episode 177 - Latest UK Retail Crime Data, Gen Z Trends, and Best Places to Retire
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Latest UK crime survey shows a massive increase in violence and abuse, reaching the levels experienced during the pandemic at nearly half a million incidents a year. It also shows a massive increase in customer theft, doubling to just shy of £2 billion; a lack of confidence in the police response, with 60% rating it as poor or very poor; and a continuation of the rise in cyber crime. Less than half (47%) of Gen Z Americans are thriving in their lives. Best places to retire in the world.
Loss Prevention Research Council Weekly Series - Episode 176 - Top Retail Technologies 2024 and Fun Valentine Facts
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Forecasted sales growth by retail channel in 2024 is 5.1% for physical stores and 7.1% for e-commerce. IT spend at the enterprise level is expected to rise 4.9% and for stores at 4.3%. The top 5 areas where retailers are implementing artificial intelligence are....Compared to 2022, the data indicates that returns were up 15% for Cyber Week 2023, nearly doubling the pace of recorded sales growth. A Roman fertility festival was the precursor to Valentine’s Day.
Loss Prevention Research Council Weekly Series - Episode 175 - Deloitte Retail Predictions 2024 and Six Questions to Ask Mid-Career
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Deloitte’s baseline forecast anticipates continued growth in consumer spending at a rate slightly below GDP growth due to falling inflation, low unemployment, and increasing productivity growth. Six technologies for 2024. Technology will play a key role for both retail and restaurants in 2024, with 100% of retail and restaurant owners surveyed stating that automation and technology have improved their businesses. 6 Questions to Ask Midpoint in your Career.
Loss Prevention Research Council Weekly Series - Episode 174 - USA 2023 Crime Rates and Consumer AI Trends
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Most violent offenses remained elevated in 2023 compared to 2019, the year prior to the outbreak of COVID and the widespread social unrest of 2020. There were 18% more homicides in the study cities in 2023 than in 2019, and carjacking has spiked by 93% during that period. Shoplifting jumped upward by 22% from 2022 to 2023. 41% of U.S. shoppers are aware of retailers using AI in their buying journeys. Top Ten Countries Leading the AI Race.
Loss Prevention Research Council 172 - Retail Returns Totals, Holiday Retail Violence, and USA Store Closures
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Total returns for the retail industry amounted to $743 billion in merchandise in 2023. The total amount of dollars lost to returns abuse and fraud in 2023 is $101 billion. During USA Holiday Season there were 28 retail fatalities which were up 87% and 25 Organized Retail Crime Cases which were up 67%. In 2023 there was an 80% surge in store closures.
Loss Prevention Research Council Weekly Series - Episode 171 - The Meaning of 2024 and Why it Will be a Great Year
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
In 2024, the top 5 New Year resolutions for Americans are Saving Money, Be Happy, Exercise More, Improve Physical Health, and Eat Healthier. Your future, including what is in front of you, has not been written. Maybe setting New Year resolutions is a good place to start. Always remember that you are in control of your destiny and can craft the life you always dreamed about.
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It is a Small World
Continuing our journey to learn something new, our next stop is the Grand Bazaar in Istanbul Turkey. It all began in the year 1455 when Mehmet the Conqueror, the Ottoman Empire’s visionary leader, decided to establish a center of trade in the heart of the city.
Today the Grand Bazaar or as known to locals as the Kapalıçarşı is one of the world’s most famous shopping destinations. Its 30,700 square meters (330,452 square feet) covered retail mecca is a wonder to get lost it.
Inside the Bazaar’s 64 streets and smaller alleyways are roughly 4,000 stores, a mosque, post office, cafes, banks, delicious spices from the orient galore, local foods, and even a police station. You might call it a mini or maybe even better a mega city mall plus.
As a tour guide correctly wrote, the Grand Bazaar in Istanbul is a living testament to the city’s rich history and vibrant culture. It is a place you can shop for exquisite treasures, indulge in delectable flavors, and immerse yourself in the traditions of the past.
A special life-long friend who arranged for me to experience this special place once again is what inspired this summary. Retail has so many exciting places in the world where culture and humanity come together in an explosion of all your senses. Traveling back to Istanbul of what a great feeling it is to step away from your comfort zone, focus on the probabilities, vanquish the impossible, and create immersive experiences of a lifetime.
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Brilliant Research
McKinsey Technology Trends Outlook 2024
Which technology trends matter most for companies in 2024? New analysis by the McKinsey Technology Council highlights the adoption, development, and industry effects of advanced technologies. The two trends that stood out in 2023 were gen AI and electrification and renewables. - From McKinsey and Company Read more
Smart Infographic
Visualizing the Cost of Hosting the Olympics
The Paris Olympics are estimated to cost over $9 billion to host, making them one of the less expensive Summer Olympic Games in recent memory. The International Olympic Committee requires cities to have at least 40,000 hotel rooms for spectators and an Olympic Village that can house 15,000 athletes and officials. - From Visual Capitalist
Insightful Videos
Why EV Leases Are So Cheap Right Now In The U.S. -CNBC
Automakers are offering steep discounts on electric vehicles, and especially on leases. In the first three months of 2024, less than a quarter of car buyers leased vehicles, but more than a third of EV buyers did. Read more
