Total Retail Loss 2.0: From Theory to Practice

A look at retailers' awareness & adoption of TRL

Three years ago, we introduced a new approach to measuring and managing loss in retail: total retail loss. Together with University of Leicester Emeritus Professor Adrian Beck, we issued a report, which established a new typology to categorize retail costs and losses and help retailers develop an organizational framework for measuring loss and its impact on the business. Our hope was that the total retail loss (TRL) concept would be adopted broadly throughout the retail industry and asset protection practitioners would have an improved mechanism to deliver value to their company.

Now, with our updated report, “Total Retail Loss 2.0: From Theory to Practice,” we are able to analyze the global retail industry’s adoption of TRL, informed by an online survey of nearly 100 retailers, as well as interviews with senior asset protection executives. And the results are compelling.

Retailers around the world have embraced and are benefiting from the TRL concept. In fact, 89% of retailers surveyed were aware of TRL and 64% of those believed TRL had some impact on their organizations. 53% of respondents had either fully embraced the concept or adopted some of its elements, and 47% were thinking about using it in the next year.  
 

It’s encouraging to see more and more companies adopting TRL in their loss management practices. We all share similar challenges in this area, so establishing a more consistent and effective way to talk about it as an industry is extremely helpful. We’re appreciative of Professor Beck’s work and RILA’s efforts to share this groundbreaking research with the broader retail industry.

Paul Jaeckle
  • Vice President, Asset Protection
  • Meijer
It is exciting to see the industry leveraging this work. We’re optimistic that TRL 2.0 along with the original report will enable the retail industry to strive towards a more coherent, integrated, and progressive approach to the management of losses and ultimately the protection of profits.

It is hoped that both this new research and the original work developing the TRL concept will enable the retail industry to strive towards a more coherent, integrated and progressive approach to the management of losses and ultimately the protection of profits.

Adrian Beck
  • Emeritus Professor
  • University of Leicester
Access the full report here and feel free to reach out to me to learn more about RILA’s work with TRL and leading retail asset protection executives.
 
Tags
  • Asset Protection

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