When it comes to looking at retail crime by the numbers, the statistics are staggering. Shrink – the loss of inventory due to employee theft, shoplifting, paperwork errors, or supplier fraud – cost retailers more than $34 billion in 2011, or more than 1.4% of their total sales, with shoplifting accounting for 35% of those [...]
Over the past few weeks, we’ve shared how the best loss prevention professionals in the industry would be in New Orleans in June to learn best practices in the space and what’s new in technology. It seems the well-known retail criminals didn’t get the memo. On Monday night of NRF’s Loss Prevention Conference, CVS’s National [...]
There’s been plenty of press in recent years chronicling the epidemic that is organized retail crime. But how do habitual retail crimes affect the industry, retail employees and customers beyond dollars and cents? At Wednesday afternoon’s breakout session Habitual Offender: Beyond Apprehension, loss prevention executives from GAP and CVS Caremark discussed the resonating effect habitual [...]
“Cargo at rest is cargo at risk,” said Maurizio Scrofani, Supply Chain Security Expert at this afternoon’s seminar on Best Practices for Preventing Cargo Theft, as the other panelists nodded in agreement. The FBI estimates cargo theft amounts anywhere between $15 to $30 billion dollars a year. And though that estimate is quite broad, it’s [...]
When I mention the Sprint brand, your first thought might not include the company’s retail loss prevention solutions. But maybe it should be. As one of the solution providers exhibiting at LP ’12 this week, I had the opportunity to chat with Sprint executive Kelly Robinson about what the organization is offering in the retail [...]
Reports of busted shoplifting rings and criminal flash mobs have been making headlines all year, but the larger story of what’s happening in retail loss prevention goes beyond stolen Tide detergent and kids mobbing convenience stores. To explain the trends that are shaping the industry and what they mean for LP professionals, I talked with Gary Johnson, [...]
Breeding hundreds of criminals each and every day, organized retail crime has never been so problematic for retail companies. In fact, NRF’s latest Organized Retail Crime survey found that 96 percent of retailers over the past year have been victims of this opportunistic crime. Retail loss prevention executives, knowing full well how sophisticated these criminal enterprises have become in [...]
There are just two weeks until NRF’s 2012 Loss Prevention Conference & EXPO in New Orleans, and for those in retail LP, it’s a much-needed chance to gear up for the mounting challenges of today’s retail world. In NRF’s recent ORC survey, 96 percent of retailers reported their company has been the victim of organized retail [...]
Following the successful launch of the Colorado Organized Retail Crime Alliance in April, Colorado Governor John Hickenlooper, signed State Rep. Mark Barker’s House Bill 1304 into law adopting, as he puts it, measures to prevent organized retail crime. Organized Retail Crime (ORC) is defined as the theft or fraud activity conducted with the intent to [...]