LP Personnel And Safety

The billions of dollars the retail industry loses every year due to shoplifting and employee theft have not decreased, but rather will likely continue to increase every year.  Deaths due to shoplifting are not rare anymore.  News about managers and employees getting shot while trying to stop a shoplifter is commonplace now.  Training your LP staff to follow strict regulations when approaching a shoplifter should be a top priority for your business.

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To stop a thief: Shoplifting is a daily battle for retailers

On any given day, more than $35 million worth of merchandise is stolen from retail stores across the country by shoplifters – amateurs and professionals alike – who steal clothing, jewelry, electronics and a host of other items, including food.

Some sneak quickly and quietly with the merchandise, others make bold getaway attempts.

In Tupelo, the retail and financial hub of Northeast Mississippi, the Tupelo Police Department gets hundreds of reports each year.

In 2014, TPD took 483 reports related to shoplifting, according to TPD Public Information Officer Chuck McDougald. Last year, that number fell to 260. So far this year, the department has taken 162 calls.

“Higher shopping volume days correspond to more shoplifting calls,” he said. “Those include weekends and holidays.”

As for the timing of when shoplifters are busiest, apparently they’re not early risers.

RETAIL INVENTORY SHRINKAGE INCREASED TO $45.2 BILLION IN 2015

The 2016 National Retail Security Survey, conducted in collaboration by the National Retail Federation and the University of Florida, reveals that retailers’ inventory shrink averaged 1.38 percent of retail sales, or $45.2 billion in 2015, up by $1.2 billion from 2014.

According to the report, 47 percent of retailers surveyed reported increases in overall inventory shrink in 2015, with shoplifting accounting for the greatest cause with an average loss of $377 per incident (39 percent), up nearly $60 from 2014.

Robberies continue to be a growing expense for retailers, costing an average of $8,180.17, up from $2,465. The rise in robberies in 2015 was driven by an increase in jewelry stores reporting extremely high average losses.

“With a constantly evolving retail landscape, loss prevention becomes more complex every day,” said NRF Vice President of Loss Prevention Bob Moraca. “LP professionals have been working diligently to find advancements in technology aimed at deterring crime in our industry, sometimes even before it happens – but as our techniques get more sophisticated, so too do the criminals.”

Shoplifting: Retail’s $45 Billion Problem

Retailers are struggling to keep tabs on shoplifters who are increasingly becoming their top source of loss, averaging $377 per incidence, up $60 from the year before.

At 39 percent, shoplifting was found to be the biggest contributor among factors that led to overall inventory shrinkage in 2015 causing a $45.2 billion loss across the United States, according to NRF’s 2016 National Retail Security survey. The new numbers reflect a $1.2 billion increase in losses from 2014.

The inventory shrink averaged 1.38 percent of retail sales and saw 47 percent of retailers reporting losses in 2015.

“With a constantly evolving retail landscape, loss prevention becomes more complex every day,” said NRF Vice President of Loss Prevention Bob Moraca. “LP professionals have been working diligently to find advancements in technology aimed at deterring crime in our industry, sometimes even before it happens – but as our techniques get more sophisticated, so too do the criminals.”

Another factor adding to inventory shrinkage was a rise in robberies that exclusively targeted jewelry stores. The average loss reported by robbed stores increased from $2,465 per incidence in 2014 to $8,180.17 last year.

“Loss prevention professionals continue to do an exceptional job at locating the issues and finding solutions to prevent additional loss in their retail stores,” said Dr. Richard Hollinger, University of Florida criminology professor and lead author of the NRSS. “It is important for retailers to continue building relationships with law enforcement and leverage new technologies that can further provide protection to their assets, customers and employees.”