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Smash-and-Grab Is Only One Part of a Retailer’s Loss Prevention Story

Retail TouchPoints

Yet despite the growing frequency of ORC, retailers would be remiss to focus their loss prevention efforts solely on these brazen, smash-and-grab scenarios. In fact, according to the 2023 National Retail Security Survey conducted by NRF, Appriss Retail and the Loss Prevention Research Council, 68.8% Similarly, 57.8%

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Rethinking Hard Tag Removal: How RFID Technologies are Complementary to EAS Hard Tags

Retail TouchPoints

According to the National Retail Federation (NRF), retailers lost $112 billion due to shrink in 2022, up from nearly $94 billion in 2021. Craig Szklany serves as VP and Product General Manager, Loss Prevention and Liability at Sensormatic Solutions.

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Planning to Prevent Workplace Violence in Retail

Retail TouchPoints

A 2022 U.S. My 35-plus years of experience in retail, most of that time being in loss prevention, has taught me a lot. Some insurance companies have loss control or loss prevention professionals who can help. Throughout his retail career, loss prevention has been a consistent focus.

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Organized Retail Crime is on the Rise, but AI Can Stop This Troublesome Trend

Retail TouchPoints

But without the data to link the individuals involved in the ORC ring, retailers may continue to suffer tremendous loss and shrink every year. increase in ORC incidents between 2021 and 2022. Is Organized Retail Crime Getting Worse? Organized retail crime is a growing problem. retailer makes, more than $700,000 is lost due to ORC.

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Is the Retail Crime Wave a Tsunami or a Ripple?

Retail TouchPoints

Back in 2022, the message was clear — retail crime was on the rise : “There’s no two ways about it,” said Gautham Vadakkepatt, Director of the Center for Retail Transformation at the George Mason University School of Business in an interview with Retail TouchPoints. Additionally, definitions remain vague.

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Dick’s, Lowe’s, Target Execs Cite Theft’s Impact on Financial Results and Safety

Retail TouchPoints

While shrink is far from a new problem in retail, the impact of theft — particularly large-scale operations run by organized retail crime (ORC) rings — has been garnering the attention of executives at some of the country’s largest retailers, including Lowe’s , Target and Dick’s Sporting Goods. increase in theft attributed to ORC in 2021.

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During the Holidays, Small and Mid-Sized Businesses Feel the Impact of Retail Crime

Retail TouchPoints

According to the National Retail Security Survey, losses attributed to retail theft rose to $112.1 billion in 2022, up from $93.9 He brings more than 30 years working with the retail industry and specializes in loss prevention, safety, ecommerce fraud and supply chain security.