Organized retail crime is continuing to grow, with the number of dollars lost topping a key threshold for the fifth year in a row and three-quarters of retail companies that have been victims saying activity is up.
That’s according to the 16th annual Organized Retail Crime study by the National Retail Federation.
“Retailers are seeing more cases and higher losses as organized crime continues to target stores, warehouses and cargo,” NRF Vice President for Research Development and Industry Analysis Mark Mathews said. “Retailers are investing millions to fight these crimes, but they need more help from law enforcement and, most of all, they need tougher laws that recognize the difference between petty shoplifting and professional crime for profit.”
The survey found 75% of loss-prevention executives at a cross-section of large and mid-sized retail companies said ORC activity had increased in the past year, up from 68% last year. Losses averaged $719,548 per $1 billion in sales, a 2% increase from last year and the fifth year in a row that the figure topped the $700,000 mark.
Current losses compare with only $453,940 in 2015, and the increase of nearly 60% comes as many states have raised the threshold of what