Loss Prevention Research Council Weekly Series - Episode 19 - The State of USA Retail

With Dr. Read Hayes, Tony D'Onofrio, Tom Meehan, and special guest Greg Buzek - President IHL Group

August 13, 2020

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In this episode of LPRC CrimeScience: The Weekly Review, Dr. Read Hayes, Tom Meehan, and Tony D’Onofrio are joined by Greg Buzek, Founder and President of the IHL Group, to delve into COVID-19’s impact on retail, inventory distortion, emerging technologies (artificial intelligence & computer vision), the millennial unemployment rate, global retail sales, virtual SOC, cybersecurity training, and much more.

Greg Buzek is the Founder and President of IHL Group and one of the Founders of the Retail Orphan Initiative (www.retailROI.org), a charitable foundation that seeks to help the 400 million orphaned and vulnerable children around the world. In 10 years, RetailROI has been involved in over 200 projects in 24 countries helping an estimated 226,000 children through clean water, education, computers, language training and care.

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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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Deloitte Global Retail Outlook 2024

After a prolonged period of suppressed consumer spending, macroeconomic and geopolitical uncertainty, and rapid changes in consumer behavior (among other things), the global retail industry stands at a crossroads; forced to make decisions about long term investments in new technology and business models while at the same time managing the rising cost of doing business and a decline in the spending power of consumers. - From Deloitte Insights Read more

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The World's Top Flight Routes by Revenue

In 2024, a record 4.7 billion people are projected to travel by air—200 million more than in 2019. While revenues surged to an estimated $896 billion globally last year, airlines face extremely slim margins. On average, they made just $5.44 in net profit per passenger in 2023. Today, the industry faces pressures from high interest rates, supply chain woes, and steep infrastructure costs. - From Visual Capitalist

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Loss Prevention Research Council Weekly Series - Episode 19 - The State of USA Retail

With Dr. Read Hayes, Tony D'Onofrio, Tom Meehan, and special guest Greg Buzek - President IHL Group