In 2022, the retail landscape was nothing short of a rollercoaster, witnessing staggering losses that skyrocketed to over $112 billion—a significant leap from $93.9 billion in 2021.
This brand new report from Appriss Retail, NRF, and LPRC provides valuable insights into the current state of retail crime and the measures retailers are taking to protect their businesses. It serves as a crucial resource for understanding the evolving landscape of retail risk and security, offering valuable information for retailers of all sizes and segments across the United States.
Retail shrink is the financial loss experienced by retailers due to various factors like theft, errors, and unknown occurrences. It includes shoplifting, organized retail crime, return fraud, and employee theft as significant contributors. Technology, such as data analytics and AI, offers valuable tools to identify and prevent shrinkage. By staying vigilant, collaborating with others, and adopting innovative solutions, retailers can fortify their defenses and build a safer, more profitable future.
Download your copy of the report to dig into the survey findings and learn key strategies for minimizing security risks at your organization.