loss prevention, retail security, Electronic item tracking. These are all commonly used terms, while most people don’t know what they mean. Experts in the loss prevention industry may or may not be aware of the specific definitions of these terms. Many LP professionals repeat these terms over and over without really thinking about what they are saying. To understand the combined meanings of these phrases, it helps to take a look at their word-for-word meaning.
Loss prevention:
loss = The damage or suffering caused by losing something.
Prevention = The act of preventing something or impeding something.
Retail Security:
Retail sale = The sale of goods or merchandise to the consuming public in small quantities.
Security = Freedom from risk or danger; Security status.
Electronic Item Tracking:
electronics = Anything related to the controlled conduction of electrons and/or a variety of charge carriers.
Article = An individual thing or element of a class; a particular object or item, such as an item of clothing or food.
Surveillance = Close scrutiny or observation of a person or group, particularly one under suspicion.
When you take these words and put them together, their individual meanings are expanded and magnified. These terms encompass elements of both the definition of lingual derivation and the implications of common usage.
Loss prevention = Prevent damage to the bottom line caused by loss of money, property, etc. in a business context.
retail security = The process by which goods are sold to the public in a manner that is safe for both the consumer and the store owner, preventing theft or damage.
Electronic Article Surveillance = Electronically powered machines and fixtures that can alert a retailer if merchandise is removed from the store.