Loss Prevention Research Council Weekly Series - Episode 45 - Post Vaccine Retail and @Strategy
With Dr. Read Hayes, Tony D'Onofrio, Tom Meehan, and special guest John Voytilla, LP Focus
From Chain Store Age and Customer Growth Partners projects that 2021 retail sales will rise 8.1% this year to $4.26 billion. The 8.1% increase would mark the fastest growth pace this century, easily topping 2004's 6.4% increase. 56% of the increase will be from digital channels.
From Statista, 4th quarter GDP Growth. China was the first country to bounce back from its Coronavirus losses recording 6.4% growth. USA was down 2.5%. Germany down 3.9%. France down 5%. Italy down 6.6%.
From IHL Group, the top 5 vendors increasing market share with retailers in 2021 were: Microsoft 59%; Oracle 42%; Amazon 36%; Cisco 29%; Salesforce 28%. These were ranked by % retailers increasing business with solution provider in 2021.
From First Insight - Consumer shopping behaviors as vaccines roll out. 31% of consumers won't get or are not sure if they want to receive a vaccine. Most consumers will not rush back to stores after getting vaccinated. 45% will go less or the same amount into beauty stores. 45% same for footwear. 43% same in accessories / jewerly and electronics. 41% same or less for luxury. 40% same or less in apparel. Spikes in COVID-19 are influencing in-store shopping and spending. 61% of consumers indicated they would significantly or somewhat cut spending if a national lockdown was enforced. 60% state that spikes in COVID-19 cases are deterring them from shopping in-stores. 71% still don't feel safe testing beauty products. 62% don't feel safe trying products in fitting rooms. 60% still don't feel trying on shoes. 59% don't feel safe working with a sales associate.
On this week’s episode, John Voytilla, global loss prevention and subject matter expert in developing scalable and actionable strategies, joins our co-hosts to talk about the LPRC STRATEGY@ program, the importance of collaboration in the retail industry, acute vs. chronic LP issues, erosion of consequences, and much more.
John Voytilla has a verified approach to risk identification and mitigation. He has over 20 years of leadership experience in the office products industry, where he led the loss prevention and safety organizations at OfficeMax/Office Depot. Through mergers and acquisitions, John developed synergistic strategies that improved the profitability of the company. John joined Party City in 2017 as Senior Vice President to lead the development of the loss prevention and safety program, store development, facilities, and procurement functions. Recently, John launched his own consulting practice LP-FOCUS, LLC. There he will apply his critical thinking and financial/business acumen to help organizations improve their profitability. John has been an active board member and past chair of the BOA for the LPRC.
