By Mark Borkowski ——Bio and Archives--February 15, 2024
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The LCBO's decision to scan customers' IDs to buy alcohol is one of the biggest corporate blunders in recent memory. What were they thinking? Since theft is out of control, I propose a better alternative. In the 1960s people would fill out a little chit of what they wanted to buy from a panel of all the products in a display area.
You would pay for the products and have a Clerk behind a long table go retrieve the orders and hand them to you. Today it could be all done online, or by visiting a using a terminal in the store to place the order.
The last report of theft by the LCBO was $77 million in 2018. Retail experts indicate that it is likely now four times that amount.
No more need for extra security. LCBO stores could reconfigure their retail footprints and save up to 35% of their space.
CBC:
'There has been a brazen amount of theft going on,' says long-time LCBO employee
Denise Davis says many mickeys of vodka have gone missing from LCBO shelves since she started working there almost 40 years ago.
But over the last year, the veteran LCBO employee says alcohol theft in Ontario has become rampant as thieves have started to stuff duffle bags with bottles of Grey Goose and threaten employees with weapons consistently. -- More...
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Mark Borkowski is president of Mercantile Mergers & Acquisitions Corporation is a mid-market mergers & acquisitions brokerage firm based in Toronto. Mark can be reached at (416) 368-8466 or at .(JavaScript must be enabled to view this email address)