Retailers lose less to theft in 2017

Tuesday 12 June 2018 11:48 CET | News

A National Retail Federation (NRF) survey has showed that losses from retail dropped to USD 46.8 billion in 2017, down from USD 48.9 billion in 2016.

The National Retail Security Survey published by the and the University of Florida (UoF) canvassed 63 loss prevention and asset protection professionals from a variety of retail sectors.

The majority of those surveyed (59%) said that they felt the shrink was flat or decreasing, compared to 51% who felt that way in the previous report. Still, 41% said they believed shrink was growing, though that number was down from 49% in 2016.

Shoplifting and what NRF called organized retail crime topped the list of reasons given for shrink at 36%. That was followed closely by internal employee theft (33%), administrative paperwork errors (19%), and vendor fraud or mistake (6%).

While these numbers are encouraging and show that retailers have made progress, criminals are constantly evolving. Todays retailers no longer have to worry just about shoplifters or thieving employees, they also need to protect against digital crimes.

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Keywords: retailres, survey, National Retail Federation, cybercrime, fraud, retail crime
Countries: World