Las Vegas hotels and Clorox bleach have some history in common — specifically, they were both hit by recent cyberattacks. Last week, a ransomware group reportedly compromised MGM Resorts’ slot machines, check-in systems, websites, and even electronic door keys. And now Clorox has revealed that an IT breach has forced it to reduce manufacturing operations, leaving a financial impact in the short term.

The MGM attack is noteworthy since casinos put serious resources into cybersecurity — but it only takes one slip for an incident to occur. That’s why every business needs to understand the risks and create a cybersecurity plan, or else (like Clorox) they’ll have a mess to clean up.

Cybercrime isn’t the only kind of theft impacting businesses. Today we’ll discuss the old-fashioned variety…

Today’s Edition...

Shoplifting: Do small businesses need to be worried?

Cora: How the company funds women’s health education

Guac-AI-mole: Meet Chipotle’s avocado-peeling robot

Do Small Businesses Need to Worry About the Shoplifting Spike?

(Source: Shutterstock)

The phrase “smash-and-grab” has appeared in headline after headline lately. In Los Angeles, a theft ring has cost stores, including Macy’s, Nike, and Nordstrom, up to $400,000 per location as flash mobs of dozens easily overwhelm security guards. Dick’s Sporting Goods blamed shrink (industry jargon for lost inventory) for a 23% drop in quarterly profits, and Target’s CEO predicted a 100% year-over-year spike in losses to crime.

It’s plenty enough to make small retailers ask, “What’s going on, and should I worry?”

Such worries might not be completely unfounded. In late August, thieves took $500,000 in merchandise from an independent L.A. jewelry store. (Meanwhile, in New York City, 8-year-old pickpockets are reportedly “terrorizing” bars and restaurants; they’re definitely going on Santa’s Naughty List.)

While your small local business is unlikely to get hit by a 50-person theft ring — or tiny schoolchildren — the U.S. Chamber of Commerce has found that about half of small retailers are reporting increased theft.

But here’s a catch: the shrink might be coming from inside your business.

“Behind closed doors, retailers are facing other issues … including theft by their own employees, that are contributing to losses,” CNBC reports, adding that shrink can be “used as an excuse for generally bad performance” as it gets lumped in with figures, such as customer returns and lost merchandise.

In the U.K., employee theft is up by 20%, likely as a reaction to the rising cost of living. To combat it, the Association of Certified Fraud Examiners recommends that employers offer benefits such as lunch vouchers, subsidized childcare, and financial education. (Especially in tough economic times, experts say, employee loss prevention must be proactive rather than reactive.)

Some media outlets have even questioned if we’re in the midst of a shoplifting scourge or a paranoid panic: CNN cites National Retail Federation numbers that suggest shrink as a percentage of sales has gone down since 2020. In “The Great Shoplifting Freak-Out,” the Atlantic asks, “Why is it so hard to figure out if America’s enormous surge in theft is real?”

Like with many issues these days, it can be easier to trust vibes than anything else — and not many business owners are picking up good ones. Whatever you’re feeling, staples like security systems, insurance, and fraud prevention remain essential.

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With PandaDoc, you can make your business’s document workflow as simple as black and white. If you’re ready to level up your document management and collaboration, check out PandaDoc today.

Cora Funds Women’s Health Education Internationally

(Source: Shutterstock)

It’s deemed the “fifth vital sign” (in addition to blood pressure, heart rate, respiratory rate, and body temperature) for half the human population throughout much of their lives. However, discussing menstruation still carries a stigma across the globe.

Enter Cora. Known for its line of organic sanitary products, the company has a mission to spread literacy and open conversations about women’s reproductive health. Cora founder Molly Hayward was inspired to start the brand when a schoolgirl in Kenya shared that she and her classmates would stay home from school during their periods due to lack of pads.

“Around the world, an estimated 100 million girls experience period poverty,” the company reports. With every purchase, Cora donates sanitary products (22 million in total) and health education “to those in need through our partners on the ground in India, Kenya, and the United States.”

That’s an endeavor worth supporting … period.

Chipotle’s Avocado-Peeling Robot Will Guac You to the Core

(Source: Chipotle)

It takes Chipotle workers about 50 minutes to make one batch of guacamole (no wonder it costs extra). But that might be a thing of the past, thanks to the fast-casual company’s new collab with robotics startup Vebu Labs. Together, they’re testing a guac-prep robot named Autocado that “cuts, cores, and peels avocados.”

Holding up to 25 pounds of avocados at once, the bot could (literally) cut production times in half while reducing food waste across Chipotle’s 3,200 locations. That’s a future Chipotle has invested in to the tune of $50 million for its high-tech Cultivate Next venture.

But what about disappearing jobs? Chipotle insists its food will always have a human touch, describing the Autocado as “cobotic.” No word yet on whether the droid dicer will bring down those side-of-guac prices, though.

Chipotle did it, but what about your business? Find out if you should hire a human or a robot.