Company News • 14.07.2015

National Retail Security Survey has been released

Retailers estimate shoplifting and fraud cost $44 billion in 2014

Retail loss prevention professionals have one of the hardest jobs in the...
"Retail loss prevention professionals have one of the hardest jobs in the industry" says NRF President and CEO Matthew Shay.
Source: National Retail Federation

A new study being released from NRF PROTECT, the industry’s largest retail loss prevention event, finds that retailers lose billions of dollars to shoplifting, employee and vendor theft and administrative error – collectively known as inventory shrink.

According to the National Retail Federation/University of Florida National Retail Security Survey, retailers say inventory shrink averaged 1.38 percent of retail sales, or $44 billion, in 2014.* The report was sponsored by The Retail Equation.

Specifically, retailers surveyed estimate that shoplifting accounted for the largest part of reported shrink in 2014 – 38 percent, followed by employee/internal theft (34.5%), administrative and paperwork errors (16.5%), vendor fraud or error (6.8%) and unknown loss (6.1%). 

“Retail loss prevention professionals have one of the hardest jobs in the industry – protecting their customers, employees and merchandise from the threat of harm and fraud, and the results of this survey prove the enormity of their task,” said NRF President and CEO Matthew Shay. “Retailers will continue to review best practices and work to better educate decision makers in Washington about the burdens these crimes place on consumers, retail companies, their employees and the economy.”

“A common misperception about shoplifting is that retailers can ‘afford’ the loss of a candy bar or a pair of jeans, but the truth is that the industry loses billions of dollars each year at the hands of callous criminals that could be put towards human capital, promotions and other necessary business operations,” said NRF Vice President of Loss Prevention Bob Moraca. “Though we are encouraged by the partnerships forged with law enforcement over the years and advances in technology that will help deter a crime before it happens, criminals continue to thwart much of the progress retailers have made thus far.”

When it comes to loss prevention budgets, 39.4 percent of those surveyed say their budget for 2015 increased over last year; just over one-third (36.6%) said their budgets would be similar to what they were last year – leaving 23.9 percent of respondents with decreased resources.

Dr. Richard Hollinger, criminology professor at the University of Florida and lead author of the NRSS for the past 24 years, notes this year’s shrink percentage is the lowest seen in the survey’s history. “Loss prevention professionals have done a commendable job of elevating the issue of shrink and retail fraud within their own companies and with industry insiders and the public, but the battle wages on to find ways to contain further losses to their businesses,” said Hollinger. “As retail issues like shrink and security become more complex, retailers should continue to work together as an industry to ensure continued partnerships, with the end goal of finding the most effective asset protection solutions possible.”

Source: National Retail Federation

related articles:

popular articles:

Thumbnail-Photo: Zebra Technologies to acquire Reflexis Systems, Inc....
10.08.2020   #POS communications #workforce deployment

Zebra Technologies to acquire Reflexis Systems, Inc.

Acquisition helps Zebra empower every worker at the edge to execute the best next action

Zebra Technologies Corporation (NASDAQ: ZBRA), an innovator at the front line of business with solutions and partners that deliver a performance edge, today announced it intends to acquire Reflexis Systems, Inc., a ...

Thumbnail-Photo: Bright future for Copenhagen-based Irma Store...
15.06.2020   #electronic shelf labels (ESL) #price labelling

Bright future for Copenhagen-based Irma Store

Automatic price updates with ESL

Irma Smedetoften is located in the heart of Copenhagen's Northwest Quarter. The area around the Irma store is part of an urban development project where, among other things, the local trade district will be strengthened. Irma has also recently ...

Thumbnail-Photo: Reflexis successfully expands into Baltic region by signing Maxima Latvia...
08.07.2020   #POS communications #workforce deployment

Reflexis successfully expands into Baltic region by signing Maxima Latvia

Region’s leading retail chain chooses workforce management solution

Reflexis Systems, the leading provider of intelligent workforce management and execution solutions for multi-site businesses in retail, food service, hospitality and banking, today announced that Maxima, one of the largest Latvian retail chains, has ...

Thumbnail-Photo: POS TUNING tuned its pushfeed system
02.07.2020   #product presentation #product classification systems

POS TUNING tuned its pushfeed system

The supplier optimizes the compartment systems C60 and C90

Never change a running system?Who doesn't know this saying? Changing something well-tried always has something to do with risk. The danger that something suddenly doesn't run as well as before is always there. But standstill has never ...

Thumbnail-Photo: Creative criminal meets intelligent security system...
28.05.2020   #security #brick and mortar retail

Creative criminal meets intelligent security system

Interview with Ralph Siegfried, Business Development Manager at Axis Communications GmbH

Stores come in different sizes, have different settings and vary in product selection. That’s also why they need a customized loss prevention and security solution. What are some options for retailers and what key elements do they need to ...

Thumbnail-Photo: eBay’s management of payments begins scaling globally...
24.07.2020   #online trading #e-commerce

eBay’s management of payments begins scaling globally

Payments initiative reaches a milestone as the Operating Agreement with PayPal expires

Starting today (July 20th), eBay will begin expanding its management of payments around the globe. The company embarked on its journey to manage the end-to-end payments process on its marketplace platform in late 2018 and is already seeing success ...

Thumbnail-Photo: COVID-19 accelerates adoption of contactless payments...
20.05.2020   #payment systems #coronavirus

COVID-19 accelerates adoption of contactless payments

Consumers around the world are switching to contactless to help with social distancing

RBR’s Global Payment Cards Data and Forecasts to 2024 reportreveals how increased contactless card issuance and acceptance combined with changes in consumer behaviour are driving growth in contactless payments. In 2018, the number of ...

Thumbnail-Photo: Behind the curtain: Inside Amazon
18.05.2020   #online trading #marketing

Behind the curtain: Inside Amazon

A Frankfurt startup helps sellers to improve their ranking on the platform

"I want to successfully promote and sell my products on Amazon" - that's the goal of many sellers. It comes as no surprise as the Seattle-based online store has evolved to become the largest e-commerce marketplace in Europe since its ...

Thumbnail-Photo: Disposition and shelf maintenance in times of Corona...
19.08.2020   #POS marketing #shop equipment

Disposition and shelf maintenance in times of Corona

Tools for shelf management

The CPG industry is currently experiencing turbulent times just as much as retail. Challenges such as the ban on field sales force visits or the sudden increase in demand for some articles, which leads to gaps in the shelf and loss of sales, are ...

Thumbnail-Photo: Payment and retail - what happens after the crisis?...
09.07.2020   #brick and mortar retail #payment systems

Payment and retail - what happens after the crisis?

Interview with Christine Bauer from CCV

We ask Christine Bauer, Vice President International Sales of the payment service provider CCV, which has been firmly established in Germany for 25 years and internationally for 60 years.Mrs Bauer, CCV has been on the market for a very long time, ...

Supplier

Reflexis Systems GmbH
Reflexis Systems GmbH
Kokkolastr. 5-7
40882 Ratingen
CCV GmbH
CCV GmbH
Gewerbering 1
84072 Au i.d.Hallertau
POS TUNING Udo Voßhenrich GmbH & Co KG
POS TUNING Udo Voßhenrich GmbH & Co KG
Am Zubringer 8
32107 Bad Salzuflen
Delfi Technologies GmbH
Delfi Technologies GmbH
Landgraben 75
24232 Schönkirchen
APG Cash Drawer
APG Cash Drawer
4 The Drove
BN9 0LA Newhaven
Adasys GmbH – a Poindus Company
Adasys GmbH – a Poindus Company
Max-Planck-Straße 10
70806 Kornwestheim
SALTO Systems GmbH
SALTO Systems GmbH
Schwelmer Str. 245
42389 Wuppertal
Apostore GmbH
Apostore GmbH
Uferstraße 10
45881 Gelsenkirchen
Poindus HQ - Taiwan
Poindus HQ - Taiwan
5F., No.59, Ln. 77, Xing-Ai Rd.,Neihu Dist.
Taipei City 114