The New Normal: Designing Security to Fight Organized Retail Crime
Bold, well-orchestrated – sometimes violent – organized retail crime (ORC) has reached a new level of intensity. That means loss prevention and asset protection also must rise to new heights. Fortunately, new technologies make it possible to more effectively reduce shrinkage and improve asset protection.
The FBI now estimates ORC losses at more than $30 billion per year. The National Retail Federation polled members in 2017, and 95% said they had been victimized by organized theft and fraud operations, with costs rising to more than $700,000 for every $1 billion in sales.
The key to understanding the ORC new normal is to think like the members of these criminal teams. This article explores who they are, actions they may take and why, as well as fraud detection and security strategies likely to become lasting solutions: better inventory management, security systems integration all the way to the shelf level, working backwards towards solutions, and establishing open-architecture digital security systems to save time and money.