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.
- Vice President, Asset Protection
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.
- Emeritus Professor
- University of Leicester