In 2016, RILA introduced the retail industry to a new way of thinking about loss prevention. The concept of Total Retail Loss (TRL) was developed to be a more manageable and meaningful approach to defining and measuring retail losses. And since we first published the research which fully outlined TRL and its applicability for retailers, we've seen more and more companies adopt the approach to advance their LP practices.
In a Convenience Store Decisions article this week, c-store chain Kum & Go was the latest retailer to reveal how the company's approach to loss prevention is evolving as they embark on the 'TRL path.'
Kum & Go's Manager of Loss Prevention Britt Davidson explained how the company began using the TRL typology to identify and categorize areas of loss and create efficiencies within their LP program.
"Specifically, it provides a much better way to define and measure loss of all kinds by providing a typology consisting of 33 different categories that cross the entire spectrum of retail theft and fraud." – Britt Davidson, manager of loss prevention for Kum & Go
The full article can be read here.
Want to learn more about retailers' adoption of TRL and other LP best practices? Meet members of the Kum & Go team, as well as hundreds of other industry peers May 5–8 at RILA's Retail Asset Protection Conference in Denver, Colorado. Visit www.rila.org/ap to learn more and register.