Tony D'Onofrio
Tony as Co-Host/Guest
Loss Prevention Research Council Weekly Series - Episode 127 - Zebra Consumer Study and Thanksgiving Fun Facts
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Shoppers continue choosing online or in-store for the same reasons – availability, selection, and price. They prefer retailers with easy returns (80%), allow them to get in and out of stores quickly (76%), and offer order delivery to home (75%). They are also taking advantage of alternative pickup and delivery options with 34% of shoppers opting to buy online, pick up in store or buy in store and ship to home and with 90% saying they will continue to use these services. Fun Thanksgiving Facts
Loss Prevention Research Council Weekly Series - Episode 126 - Economic, Major Risks, Consumer and Retailer Challenges for 2023
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
IMF now forecasts global GDP growth to slow dramatically from the 6% in 2021 to 3.2% in 2022 and an even lower 2.7% in 2023. Global inflation is forecast to rise from 4.7% in 2021 to 8.8% in 2022, 6.5% in 2023 and 4.1% in 2024. The 10 highest global risk scenarios published by the Economist Intelligence Unit. 40% of consumers believing inflation will impact their holiday shopping decisions. 43% of retailers think consumers are buying less overall, yet only 29% of consumers admit that this is the case.
Loss Prevention Research Council Weekly Series - Episode 125 - More Holiday Forecasts and Five Terrifying Retail Trends
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
In terms of spend for this holiday season, 37% report their financial outlook as worse when compared to last year. 74% say they will spend more or the same on the holidays than last year. 32% plan to buy resale items as a way to offset rising prices. 34% plan to use social media as part of their holiday journey (vs. 28% in 2021). Online Holiday Sales to Grow 6.1% in 2022. Five Terrifying Retail Trends.
Loss Prevention Research Council Weekly Series - Episode 124 - Declining Consumer Trust and World Reaches 8 Billion People
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Primary reasons consumers shop in-store are: they need the items now (75%) or they want to touch and feel or try on items before purchasing (57%). Across all segments, more than 25% of customers report decreased trust in retailers based on inventory levels. Customers report they will give up on your store after 2.5-3 out-of-stock experiences. In just 48 years, the world population has doubled in size, jumping from four to eight billion. The exact date that we will hit 8 billion is November 15.
Loss Prevention Research Council Weekly Series - Episode 123 - The Successful IMPACT 2022 Conference at the Univesity of Florida
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
2022 LPRC IMPACT was a great success! In this week’s episode, our co-hosts discuss the IMPACT Conference and the great preparations taken, the record setting conference attendance, and a look at the LPRC moving forward into 2023!
Loss Prevention Research Council Weekly Series - Episode 122 - All Your Retail Holiday Forecasts Summarized
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
USA retail holiday sales will increase 7.5% this year, above the 10-year avg. of 5%. WIth inflation, real growth will range from 1% to 3% below the 10-year avg. 92% of retailers expect a recession in the near future. 81% expect it to be one year or less. To prepare, 52% plan to seek cuts indirect expenses and 42% would invest more in loyalty, reduce direct expenses, and inventory. 56% expect to be stuck with excess inventory after the holidays. 60% of digital orders are now influenced by physical stores.
Loss Prevention Research Council Weekly Series - Episode 121 - USA Retail Shrink Report 2022
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Similar to the last five years, average shrink rate in 2021 was 1.4%. When taken as a percentage of total retail sales in 2021, that shrink represents $94.5 billion in losses, up from $90.8 billion in 2020. Highest LP tech investments in 2022: RFID systems; AI-based point-of-sale (POS)/self-checkout (SCO) video analytics; license plate recognition; and/or self-service locking cases or lockers. Nearly 90% of respondents reported that COVID-19 had resulted in an increase in the risk of violence.
Loss Prevention Research Council Weekly Series - Episode 120 - Retail Violence and USA Holiday Sales Predictions
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Since D&D started tracking the data in 2016, retail fatalities have been up every single year. In total, retail fatalities are up 63% since 2016. • Comparing quarter to quarter to the previous year, for Q1/2022 vs Q1/2021, retail fatalities are up 9% and violent incidents are up 16%. This holiday season, U.S. retail sales excluding automotive are expected to increase 7.1% year over year, according to the Mastercard SpendingPulse™ annual holiday forecast. Key trends to watch this year include.
Loss Prevention Research Council Weekly Series - Episode 119 - Global Economic and Retail Headwinds
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
LPRC Team is on the road – Listen to see where! In this week’s episode, our co-hosts discuss the newest clinical trial data for vaccines, Tik Tok potentially got hacked, an examination of global inflation and the impact on everyday households, a look at the Global Economic and Retail Headwinds, the latest cyber security trends in the industry, and a look at everything 2022 LPRC IMPACT!
Loss Prevention Research Council Weekly Series - Episode 118 - Preview of Disruptive Future of Retail Webinar, LPRC Impact Conference, and Eastern Europe Cyber Attacks
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Update on LPRC Impact Conference. A preview of upcoming "The Inflationary, Recession-Risky, and Disruptive Future of Retail" webinar and a continued look at Eastern Europe generated cyber attacks
Loss Prevention Research Council Weekly Series - Episode 117 - Mid-Year Retail Checkup, E-Commerce, and UK Oxford Street
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Mid-year Checkup: What Retail Execs are Saying about inflation and inventory and more. E-commerce Revenue to Shrink for the First Time. UK Oxford Street Footfall jumps 24% thanks to international visitors.
Loss Prevention Research Council Weekly Series - Episode 116 - UK Crime, NRF views on Recession, and Cloud Computing
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
UK Retail Leaders Call on Police to Prioritize Crime. UK retailers have spent £715m ($835 million) on crime prevention in 2020/21. Retail sales, which does not include auto sellers, gas station and restaurants, were up 7% in the first six months of the year, according to NRF. Where Americans Plan to Cut Back in the Face of Inflation. Amazon Leads $200 Billion Cloud Computing Market.
Loss Prevention Research Council Weekly Series - Episode 115 - Retail Criminals Profiles, Inflation / Recession Impact, and Solutions
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
USA has 27 million known shoplifters, but only 3% are professionals. Only one out of every 100 shoplifters are arrested, and about 48% of shoplifters were repeat offenders. The top 3 items that retail thieves craved most are designer clothes (34%), laundry detergent (21%), and razors (20%). Inflation and hard economic times increase crime in general and this includes retail theft. For every $330 worth of products stolen, a retailer needs to sell an incremental $300,000 worth to break even.
Loss Prevention Research Council Weekly Series - Episode 114 - Consumer Perspectives on the Metaverse and Inflation
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Men (73%) are more likely than women (62%) to visit metaverse destinations. Women more likely to use metaverse as a virtual showroom, browsing products digitally before returning to physical world to make purchases (25% women vs. 18% for men). More than half (53%) of consumers say their financial condition is worse in 2022 than it was in 2021. Nearly a third believe it will deteriorate over the next 12 months. Consumers think they’ll be living with higher prices for 600+ more days.
Loss Prevention Research Council Weekly Series - Episode 113 - Retail Crime Trends and Violence
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
USA retail crime results in $125.7 billion in lost economic activity and 658,375 fewer jobs, paying almost $39.3 billion in wages and benefits to workers. ORC costs retailers an average of $720,000 for every $1 billion in sales as of 2020, up from $450,000 five years earlier. 86% said that an ORC criminal has verbally threatened an associate with bodily harm. 2021 was another violent retail year in USA retail with incidents up 9% and fatalities up 14% from the previous year.
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It is a Small World
“Even monkeys can fall from their trees.” – Japanese Proverb
Continuing our global learning journey, our next stop is Tokyo Japan. Founded, in 1603, this city was once a small fishing village called Edo. In 1890, it became Tokyo which means Eastern Capital in English.
In Tokyo, you will find the world’s busiest intersection, the Shibuya crossing where 2,500 people cross the intersection, every time the lights turn green. This city also holds the record for the most Michelin starred restaurants at 212 places to enjoy amazing food.
Tokyo is the most populous city in the world with 37 million people. Uniqueness is everywhere, even in vending machines, where you can buy hot meals, fresh produce, and even umbrellas. There is one vending machine in the city for every two people.
Have lost count on the many times I visited Tokyo to experience their modern retail industry. This picture is from the New Otani Hotel gardens, a favorite during multiple visits.
As the Japanese proverb that opened this summary reminds us, no matter how accomplished we become, you can always make a mistake. Overconfidence can lead to missteps. Life is one sweet ride and Japan provides many reminders on how to enjoy it.
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Brilliant Research
World Happiness Report 2024
The top 10 countries have remained much the same since before COVID. Finland is still top, with Denmark now very close, and all five Nordic countries in the top 10. But in the next 10, there is more change, with the transition countries of Eastern Europe rising in happiness (especially Czechia, Lithuania and Slovenia). Partly for this reason the United States and Germany have fallen to 23 and 24 in the rankings. - A partnership of Gallup, the Oxford Wellbeing Research Centre, the UN Sustainable Development Solutions Network, and the WHR’s Editorial Board. Read more
Smart Infographic
ChatGPT Statistics - Users, Revenue (March 2024)
ChatGPT has over 180.5 million monthly users as of March 2024. Nearly 15% of the ChatGPT users are from the United States. More than 92% of Fortune 500 companies are using ChatGPT. atGPT is forecasted to generate a revenue of $1 billion in 2024. 53% of the readers failed to identify ChatGPT written content as AI-written. – From Demandsage.com
Insightful Videos
The World Ahead 2024: five stories to watch out for
From the biggest election year in history, to how to control AI and even taxis that fly, The Economist offers its annual look at the world ahead. Read more
