Retailers Face Increased Threats from Organized Retail Crime
Organized retail crime (ORC) continues to grow, with 83 percent of merchants reporting an increase in the past year, according to the National Retail Foundation’s 12th annual ORC study. All survey respondents reported being an ORC victim in the past year, and the average loss was $700,259 per $1 billion in sales, a significant increase from $453,940 last year.
As the problem grows, 71 percent of loss prevention executives surveyed said they believe their top management understands the severity and complexity of the crimes, up from 63 percent last year.