RF Survey: Organized Retail Crime on the Rise
Retail crime is on the rise according to the NRF’s recently released annual 2017 Organized Retail Crime (ORC) survey.
In its 13th annual ORC study, the National Retail Foundation (NRF) concludes that ORC poses a serious threat to retailers. More than 94 percent of retailers surveyed believed they were a victim of ORC in 2017, and ORC gang aggression is on the rise. ORC costs retailers an average of $726,351 per every $1 billion in sales, according to the report. Top items stolen include designer clothing, denim jeans and designer handbags.
As a result of flat or declining loss prevention budgets, fewer retailers are able to recover stolen merchandise. Only 17.1 percent have recovered stolen merchandise or gift cards found in stores, versus 33.9 percent in the 2016 survey.
Hikvision takes ORC and retail loss prevention seriously, and has developed innovative security solutions to support retail loss prevention efforts. “Hikvision’s TurboHD HDTVI lineup lets retailers install our technology with their existing cable infrastructure. It saves customers money while providing up to 5MP resolution on coaxial cables,” said Cliff Miller, Hikvision’s director of retail sales. “Plus, Hikvision TurboHD supports IP technology in addition to legacy systems, so retailers can migrate over at a later date, which offers them additional value.”
The NRF surveyed 63 loss prevention retailers representing a wide range of retail sectors such as grocery, home improvement, jewelry, department stores and sporting goods, to name a few. To download the full NRF report, click here.