SAN DIEGO, CA – June 11, 2007 – LP Innovations, a nationwide provider of retail loss prevention solutions, and CAP Index, Inc., the world leader in crime forecasting and loss mitigation analytics, have joined forces to create the National Shrink Database – the retail industry’s first Web-based user interface to provide actual and accurate industry shrinkage information.
Previewed for the first time at the NRF Loss Prevention Conference & Expo (June 11–13, San Diego Convention Center), the National Shrink Database is the first tool of its kind to offer location-specific shrinkage data. Users simply enter an address, mall/plaza name, and ZIP code to benchmark their individual retail locations against those of similar retail segments within the same mall, shopping center, or other geographic location. The database uses actual and timely statistics from the collective membership, and results can be compared at the local, state, and national level. In addition to shrinkage information, users can also research the usage of security measures at the local, state, or national level by retail type.
These new metrics provide retailers with tangible information to enable more accurate budgeting, resource allocation, real estate planning, and overall loss prevention assessments of a retail location.
Editor’s Note: For more information about the National Shrink Database and the alliance between LP Innovations and CAP Index, Inc., please see the attached Q&A.
“For years, the retail industry has relied on databases and reports that provide only general shrink averages on a national scale,” said Steven May, president and CEO of LP Innovations. “The National Shrink Database better serves retailers by providing actual location-specific shrinkage and security information. The ability to use this information as a reference far exceeds any current shrinkage projections in the industry today.”
“The National Shrink Database allows a faster means of determining what successful retailers are utilizing to protect their locations from loss and security-related incidents,” said Jon Groussman, president and COO of CAP Index, Inc. “With better information, retailers can make better decisions, and can secure the future of their businesses.”
LP Innovations and CAP Index expect the National Shrink Database to be formally released to the retail industry by fall 2007. Preview demos are available at LP Innovations’ booth, #507, and CAP Index’s booth, #615, at the NRF LP Conference & Expo. Editors interested in a show or post-show briefing with Steven May and Jon Groussman can contact Megan Maguire Kelly at 610-269-2100, ext. 225, or Emily DiTomo at 610-649-9292.
About LP Innovations
LP Innovations is the only nationwide, single-source provider of loss prevention solutions for the retail industry. Since its inception in 1998, LP Innovations has provided its rapidly growing customer base with a variety of innovative solutions proven to protect profit and reduce shrink. From a nationwide network of certified loss prevention auditors and investigators to a dedicated staff of data analysts, client service representatives, and support technicians, LP Innovations provides its customers with best-in-class services, building stronger and more effective loss prevention programs.
About CAP Index, Inc.
CAP Index, Inc., is the world leader in crime forecasting. For the past 18 years, the company has provided innovative solutions to Fortune 500 corporations and government agencies looking to minimize a broad range of losses, including shortage, general liability, fraud, lawsuits, and crimes against persons and property.
CAP Index’s CRIMECAST® products are derived from an advanced evaluation system designed to accurately identify the risk of personal and property crimes at any location in the United States, Canada, and the United Kingdom. CRIMECAST reports assist clients in ranking and comparing multiple locations, site selection, security resource allocation, litigation, and underwriting.
CAP Index provides crime forecasting models for 81 of the top U.S. Fortune 100 companies, as well as leading retailers, financial institutions, insurance companies, and quick service restaurant (QSR) companies nationwide.
For more information, please call 610-903-3000, or visit www.capindex.com.
LP Innovations
(610) 269-2100, ext. 225
CAP Index, Inc.
Public Relations
(610) 649-9292
Megan Maguire Kelly
Emily DiTomo