Retailers are expected to lose a staggering $50.6 Billion this year (NRSS 2019). Approximately $18.5 Billion of that is from shoplifting alone. That buys enough cans of red bull to circle the earth 32 times. Listen, do you hear that sound? That is the sound of retail loss prevention executives grieving the loss of their merchandise, profitability, and sanity.
The five stages of grief (Denial, Anger, Bargaining, Depression and Acceptance) are universally experienced by people from all walks of life and all cultures – including many LP executives across all retail verticals. Not everyone will experience all five stages, or in order. But one thing is certain – retailers are under siege and their loss prevention leaders are suffering as a result. Here we will focus on just three of the five stages.