doesn’t does pay. According to NRF’s (National Retail Federation) third annual Organized Retail Crime survey: awareness of organized retail crime has never been higher, yet senior loss prevention executives admit the problem is getting worse. More than three-fourths of retailers (79%) said their company has been a victim of organized retail crime within the past year. The survey also found that 71% of retailers say they have noticed an increase in organized retail theft activity in the past 12 months, up dramatically from 48% in 2006.
“Despite retailers’ best efforts, organized retail crime continues to proliferate in stores around the country,” stated NRF Vice President of Loss Prevention Joseph LaRocca. “Organized retail crime rings are sophisticated and smart, but with the partnerships created between retailers and law enforcement agencies, retailers have a real chance at stopping these criminals dead in their tracks.” In April 2007, NRF announced the creation of the Law Enforcement Retail Partnership Network, a secure web-based database that will help retailers and law enforcement fight back against illegal activity in stores and online.
Organized retail crime rings generally steal merchandise from stores and the sell the goods through online auction sites or at flea markets. According to the survey, 61% of retailers have identified or recovered stolen merchandise from a fence location, up from 59% last year.
Indicating the rise in awareness of the issue, 57% of retailers said their company’s top management understands the issue, compared to only 41% in 2006. Additionally, companies are committed to fighting the problem, with one in ten retailers spending more than $1 million dollars each year to fight and prevent organized retail crime.
Source: NRF Press Release