Loss Prevention Research Council Weekly Series - Episode 58 - Amazon Revenue Per Minute and Retail Theft Apprehensions 2020

With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan

May 20, 2021

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Visualizing the length of the fine print for 14 popular apps

https://www.visualcapitalist.com/terms-of-service-visualizing-the-length-of-internet-agreements/

App/Service	Word Count	How many minutes to read? (240 wpm)
Microsoft	15,260	63.5
Spotify	8,600	35.8
Niantic (Pokemon Go)	8,466	35.2
TikTok	7,459	31.4
Apple (Media Services)	7,314	30.5

Tech Giants Earn Fortunes by the Minute

https://www.statista.com/chart/24841/tech-companies-earnings-by-minute/

So how much revenue does each of the following companies generate per minute:

Amazon – Over $800,000

Apple – Nearly $700,000

Google – Over $400,000

Microsoft – Over $300,000

Facebook – Over $200,000

Long Working Hours Cause 745,000 Deaths A Year

https://www.statista.com/chart/24867/stroke-and-ischemic-heart-disease-deaths-caused-by-long-working-hours/The World Health Organization and the International Labor Organizaton have released a first of its kind study which found that 745,000 people died in 2016 due to long working hours, a 29 percent increase on 2000. Working 55 hours a week or more is associated with a 35 percent higher risk of a stroke and a 17 percent higher risk of dying from heart disease. The burden of work-related disease is most prevalent in men with 72 percent of dreaths occurring among males. According to the WHO, most of the deaths occurred among people who passed away aged between 60 and 79 who worked 55 hours per week or more while aged between 45 and 74.

South-East Asia was the world region worst impacted with more than 300,000 deaths from long working hours while the Western Pacific region came second with just over 200,000. The study states that the number of employees putting in long hours is increasing which is resulting in a higher risk of work-related disability and death. Covid-19 is also dramatically changing work patterns, blurring the boundaries between home and office with the potential to feed the trend towards more working hours.

For the Americas the number of deaths due to long working hours was over 43,000.

The World’s Top 50 Influencers across Social Media Platforms

https://www.visualcapitalist.com/worlds-top-50-influencers-across-social-media-platforms/

Rank	Name	Category	Total Followers	Biggest Platform
#1	Cristiano Ronaldo	Sports	517M	Instagram
#2	Justin Bieber	Music	455M	Instagram
#3	Ariana Grande	Music	429M	Instagram
#4	Selena Gomez	Music	425M	Instagram
#5	Taylor Swift	Music	361M	Instagram

Jack Hayes 33^rd Annual Retail Theft Survey

https://hayesinternational.com/news/annual-retail-theft-survey/

Study reports on over 184,000 shoplifters and dishonest employee apprehensions in 2020 by just 22 large retailers, who recovered over $81 million from these thieves.

“While temporary store closures due to the Covid-19 Pandemic resulted in fewer thieves being caught stealing in 2020, the average shoplifting case value increased 13.0% and the average dishonest employee case value increased 3.8% over 2019,

As expected, the Covid-19 Pandemic clearly affected apprehensions and recovery dollars in 2020, with shoplifting apprehensions and recovery dollars down 43.8% and 36.5% respectively; and dishonest employee apprehensions and recovery dollars down 20.3% and 17.2% respectively. However, those participant retailers designated as ‘Essential’, saw overall apprehensions rise 7.9% and dollar recoveries increase 9.1% during 2020.”

Highlights from this highly anticipated annual theft survey include:

• Participants: 22 large retail companies with 18,594 stores and over $500 billion in retail sales in 2020.
• Apprehensions:Participants apprehended 184,621 shoplifters and dishonest employees in 2020, down 41.3% from 2019. Note: “Essential” retailers’ apprehensions increased 7.9%.
• Recovery Dollars:Participants recovered over $81 million from apprehended shoplifters and dishonest employees in 2020, down 30.0%. Note: “Essential” retailers’ recovery dollars increased 9.1%.
• Shoplifters: 158,158 shoplifters were apprehended in 2020, down 43.8%; and over $49 million was recovered from these shoplifters, down 36.5%. Note: “Essential” retailers’ shoplifting stats were up 8.6% (apprehensions) and 15.3% (recovery dollars).
• Dishonest Employees: 26,463 employees were apprehended in 2020, down 20.3%; and $32 million was recovered from these employees in 2020, down 17.2%. Note: “Essential” retailers’ dishonest employee stats were up 2.7% (apprehensions) and 0.1% (recovery dollars).
• Case Averages:
  Total Thefts: $    440.48, up 19.2% in 2020
  Shoplifters:   $    310.11, up 13.0% in 2020
  Employees:   $1,219.61, up   3.8% in 2020

Summarizing this week:

1. The fine print is a reminder that we need to keep it simpler.
2. Tech Giants are making lots of money every second.
3. Some of us are working too hard even during COVID-19 and it could kill us. 
4. The world’s top influencers tell us that the world is going more and more visual
5. Retail theft trends confirm that LPRC is needed more than ever.