A recent study from the National Retail Federation (NRF) has found more than two-thirds of retailers have seen a rise in organized theft in the past year.
The same amount said organized retail crime gangs, which often steal high-end products as well as everyday items like infant formula or laundry detergent, have gotten more aggressive or violent, and more resources are being aimed at protecting customers and employees.
The 15th annual study, which polls retailers on theft trends, discovered 97 percent of retailers have been victims of organized retail crime in the past 12 months. The five cities seeing the most organized retail crime: Los Angeles, New York City, Houston, Chicago and Miami. On average, losses amounted to $703,320 for every $1 billion in sales, the NRF found, resulting in the fourth consecutive year that amount exceeded $700,000.
About 65 percent of retailers polled said organized retail crime is a higher priority than it was five years ago. More than half of companies are using additional technology to address the problem, and 44 percent are upping loss prevention budgets, per the NRF… BizWomen Journal
