CEO DATELINE - NRF says retail crime on the rise
CEO DATELINE - NRF says retail crime on the rise
- October 19, 2016 |
- Walt Williams
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A growing number of retailers are reporting they have been targeted for theft and scams, according to a new survey by the National Retail Federation.
The survey of 59 senior retail loss prevention executives found all their companies had experience an increase in organized retail crime in 2015. The average loss was $700,259 per $1 billion in sales, a significant increase from $453,940 the previous year.
Gangs often use storefronts, pawn shops, flea markets and kiosks to fence stolen goods, and 63 percent of respondents said they had recovered merchandise from a physical location. However, many criminals are turning to the Internet because of the anonymity it provides, with 58 percent of loss prevention executives said they had identified stolen merchandise sold online.
Retailers are also seeing an increase in thieves returning stolen merchandise for store credit, which is then resold to secondary-market buyers.
"Organized retail crime continues to impact retailers at a larger scale now more than ever before," said Jonathan Gold, NRF's vice president for supply chain and customs policy. "ORC also poses a threat to unwitting consumers who may purchase stolen merchandise that is not stored properly or may have expired."
Cargo theft also is a problem, with 44 percent of respondents saying goods had been stolen on their way to the store, up from 38 percent in 2014. Los Angeles reported the most retail crime, followed by New York City, Chicago and Miami. http://bit.ly/2eis3Y0
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