Retail shrink added up to nearly $100 billion in losses for retailers in 2021. How are loss prevention teams addressing the key drivers of the security risks causing shrink?
The National Retail Federation surveyed a cross-section of retail loss prevention professionals to study the causes of shrink, shifts in loss prevention tactics, the impacts of organized retail crime (ORC), adoption of technology to help manage shrink, and other priorities. The survey, conducted in partnership with the Loss Prevention Research Council and sponsored by Appriss Retail, found the average shrink rate of 1.4% is driven primarily by shoplifting, ORC, and employee theft. However, of most concern is the 26.5% increase in ORC incidents.
Download your copy of the report to dig into the survey findings and learn key strategies for minimizing security risks at your organization.