survey shows retail theft increasing

There was no dearth of data at the National Retail Federation’s Loss Prevention Conference & EXPO in Los Angeles last month. Sadly, much of it confirmed what many loss prevention executives have speculated on for months – namely, that losses linked to shoplifting, employee theft and organized retail crime are inching upward as a result of the dour economy.

Preliminary results of the National Retail Security Survey (NRSS) show an increase in the rate of retail theft for the first time in six years. Retail theft — a catch-all term that includes shoplifting, employee theft, administrative error and vendor fraud — averaged 1.52 percent of retail sales in 2008.  That’s up from 1.44 percent in 2007.

The annual collaborative effort between NRF and the University of Florida surveyed 95 retailers in the first half of 2008. It uses data from 2007, and was conducted by criminology professor Richard Hollinger with a funding grant from ADT Security Services.

According to the survey, incidences of shoplifting increased over 2007, accounting for roughly 35 percent of losses. Other losses included administrative error (15 percent of shrinkage) and vendor fraud (4 percent of shrinkage).

Employee theft represented 44 percent of the losses, ;the survey found that 14 percent of those cases involved collusion with outsiders.

1 Response to “survey shows retail theft increasing”

  1. 1 Nathan
    March 17, 2010 at 8:38 pm

    That’s a very interesting and scary picture that you illustrated so well for us. I think employee theft is the part that makes me sick the most. It’s always been at the top, since I am aware of because it can be so difficult to address effectively. It’s made worse due to the fact that employers are paying these thieves in this tough job market and they bite the hand that feeds them. I saw the other day what the average employee steals verses a typical shoplifter and it was equally disturbing, although I don’t have the numbers in front of me now.

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About Arthur De Gennaro

My friends call me Art. Welcome to my blog. In this space you’ll find information and comments on the ophthalmology world, the optical industry, the hearing industry and medical practice management. My intent is to provide information you can use to improve your business and your own performance. Please visit often and feel free to join the discussions by leaving comments.

You can learn more about me and my consulting company, Arthur De Gennaro & Associates, LLC by visiting my web site www.adegennaro.com

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