Organized retail crime (ORC) is continuing to grow, with nearly three-quarters of retailers surveyed reporting an increase in the past year, according to the National Retail Federation. The report found 92 percent of companies surveyed had been a victim of ORC in the past year and 71 percent said ORC incidents were increasing. Losses averaged $777,877 per $1 billion in sales, up 7 percent from 2017's previous record of $726,351.
Retailers attributed the increase to the easy online sale of stolen goods, gift card fraud, shortage of staff in stores, and demand for certain brand name items or specific products. In addition, a number of states have increased the threshold for a theft to be considered a felony, meaning criminals can steal a larger quantity of goods while keeping the crime a misdemeanor and avoiding the risk of higher penalties that come with the commission of a felony. ORC typically targets items that can be easily stolen, and quickly resold, and top items range from low-cost products like laundry detergent, razors, deodorant, infant formula, and blue jeans to high-end goods like designer clothing and handbags, expensive liquor, and cellphones.
Related: Almost All Americans Shop at Discount Retailers; Online Grocery Shopping Gains Ground.
from Industry Stats https://ift.tt/2Dxnloi
No comments: