Morrison Security: A Trusted Retail Security Company
Morrison offers comprehensive solutions to help retailers tackle the challenge of loss prevention effectively. Through advanced technology and tailored strategies, Morrison assists retailers in identifying vulnerabilities in their operations and implementing measures to mitigate risks.
The Impact of Retail Theft
According to data compiled by Capital One Shopping, retail theft, particularly shoplifting, has had a significant financial impact on retailers. In 2023 alone, stores lost a staggering $121.6 billion to retail theft, with projections indicating a potential increase to over $150 billion by 2026. The year 2022 saw retailers facing losses of $112.1 billion in gross revenue and $84.9 billion due to fraudulent sales returns. Shoplifting losses in 2022 surged by 19.4% compared to the previous year, with theft accounting for a notable 10.5% share of retail sales dollars. On average, each shoplifting incident cost retailers approximately $461.86 in 2020. Despite efforts to combat theft, stores were only able to apprehend shoplifters about 2.0% of the time, with the average shoplifter being arrested once out of every 100 incidents. These statistics underscore the ongoing challenge retailers face in mitigating the financial impact of retail theft.
Source: Capital One Shopping | Title: Retail Theft (Shoplifting) Statistics | Link: Capital One Shopping – Shoplifting Statistics
Morrison Security’s Loss Prevention, Compliance and Quality Auditing Services
Morrison Security’s retail loss prevention services are designed to optimize profits by minimizing avoidable inventory and asset losses. Additionally, our services include compliance and quality auditing, safeguarding organizations from potential legal, financial, and reputational risks arising from noncompliance with regulatory standards. By ensuring adherence to government, industry, and other regulations, as well as maintaining essential quality standards, we help protect businesses from liabilities and uphold their reputation for excellence.
The Four Pillars of Morrison Security’s Retail Loss Prevention
Comprehensive and Integrated
Services are designed to meet a broad spectrum of client needs in an integrated way. From assessment and design of risk mitigation programs to implementation and staffing, from deterrence to emergency reactivity, we combine an extensive range of proven services that work together to give clients end-to-end solutions to their risk mitigation needs.
Fact-Based Methods
All assignments begin with an evaluation to identify all key factors contributing to risk and loss, including operational process gaps, theft, poor controls, systemic flaws, and inadequate training. After our team conducts your baseline assessment, they establish remediation strategies for identified exposures by benchmarking the organization’s performance against industry best practices. Statistical analysis of key performance metrics is also a central component of our approach. Before formulating remedial strategies or deploying resources, Morrison Security’s skilled and experienced staff will identify trends and root causes to provide clients with customized predicative loss indicators and other reports to measure program efficacy.
Qualified People
Morrison Security’s knowledgeable compliance and loss prevention experts is your guarantee of reliable results. All consultants have relevant senior management experience from the client side that enables them to understand the operational contexts of risk mitigation at all levels of the organization. Their expertise and certifications, including OSHA, C-TPAT and ITAR, ensure that projects move quickly from diagnostics to remedial action.
Scalable
Morrison Security serves a wide variety of customers in many ways. Some clients choose to outsource their entire compliance auditing and loss prevention function. Others rely on us for security officer services only. Still other clients, many with their own in-house asset protection, risk management and loss prevention programs, use our consultants to improve their performance. Whatever the need, our services scale quickly and flexibly – from one to many, from simple to complex, from local to national and global, from end to end.
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Custom Retail Security Solutions
Morrison Security helps organizations protect their brand by identifying and measuring areas that contribute to risk and loss, including operational process gaps, systemic flaws and lack of training. We have a team of professional auditors and risk and loss prevention professionals ready to work with you to analyze your requirements and develop solutions to meet your risk and budget needs.
Secure Your Retail Business with Morrison Security
Don’t let theft, whether from external threats or employee theft, undermine your business success. Partner with Morrison Security today and fortify your defenses against retail loss.
With advanced surveillance technology, comprehensive risk assessments, and expert training programs, we empower businesses to identify vulnerabilities, deter theft, and respond swiftly to incidents. Our holistic approach to retail security not only safeguards your assets and revenue but also enhances the safety and security of your customers and employees.