Tony D'Onofrio
Tony as Co-Host/Guest
Loss Prevention Research Council Weekly Series - Episode 154 - Crime Trends, More Self-Checkout Challenges, and Threads
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
When does crime prevention turn into sales prevention? Self-checkout theft causing problems for Canada's retailers and shoppers who despise receipt checks. Threads Shoots Past One Million User Mark at Lightning Speed.
Loss Prevention Research Council Weekly Series - Episode 153 - More Retail Crime, Amazon Go Closings, and AI
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Costco cracks down on sharing membership cards. Police recover $7 million worth of Nike sneakers in Torrance shoe bust. Amazon Go stores closures continue. Wharton Consortium for Operational Excellence in Retail. Consumer confidence jumps in June. What will artificial intelligence do for us in the future.
Loss Prevention Research Council Episode 152 - The AI Disruptive Future of Retail
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
This week, our hosts discuss growing issues in retail from lowered sales due to inflation, inventory distortion, shrink and violence on the rise, and the Amazon effect. Also this week, a new two-factor scam to be aware of as well as more current events!
Loss Prevention Research Council Weekly Series - Episode 151 - NRF Protect 2023 Review
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
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.
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.
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There will be an Answer - Let it Be
Continuing our journey to learning something new, our next stop is the Rock N Roll Hall of Fame in Cleveland Ohio. This city was named after Moses Cleaveland, a surveyor from Connecticut who founded Cleveland in 1796 while surveying the Western Reserve.
Cleveland would go on to have the first electrified public square in 1879 (thanks to Charles Brush and his arc lamp), and become home to General Electric in 1892. It is also the city with the first indoor mall opening in the country in 1890.
Standing over Public Square is the Terminal Tower which when it opened in 1928, was the second tallest building in the United States. And if you needed some super inspiration, remember that Cleveland is where Superman was created by Jerry Siegel and Joe Shuster in the early 1930s.
Today, Cleveland is the home of the Rock & Roll Hall of Fame. The city’s own radio disc jockey Alan Freed both coined the term "rock and roll" and heavily promoted the new genre—and that Cleveland was the location of Freed's Moondog Coronation Ball, often credited as the first major rock and roll concert.
This photo is from the Rock & Roll of Fame featuring one of my favorite songs from the Beatles. “And when the night is cloudy there is still a light that shines on me. Shine until tomorrow, let it be.”
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Brilliant Research
Retailers' Blind Spot for Holiday 2024
When asked about their top holiday concerns for 2024, retailers revealed a continued reliance on historical data for critical decisions, rather than leveraging current consumer feedback. Key uncertainties revolve around promotional strategies, understanding item volume drivers, and the potential impact of inflation. The outcome of the holiday season remains unpredictable, even from these insider’s perspectives. - From First Insights Read more
Smart Infographic
The Future of Retail in Asia-Pacific: From Turbulence to Resurgence
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
