$112.1 Billion in Retail Shrinkage According To National Retail Federation Survey

The National Retail Federation (NRF) just released its 2023 Retail Security Survey. Retail shrinkage accounted for $112.1 billion in losses in 2022. Organized retail crime (ORC), homelessness concerns and non-ORC theft were top on the list of risks and threats. Retailers in the survey cited security personnel as one way of stopping or apprehending shoplifters.

What ORC Members Look For. ORC gangs look for items that are easy to resell online or on the black market. They include handbags, hats, jewelry, sunglasses, athletic clothes, jeans, t-shirts, branded athletic shoes, diapers, baby formula, liquor, perfume, mobile devices and tablets, cell phone accessories, computer games and gaming consoles. The list includes just about anything that can easily be resold.

Cities Hit Hardest. Los Angeles leads the list of cities most affected by ORC followed by San Francisco/Oakland, Houston, New York, Seattle, Atlanta, Sacrament, Chicago, Denver, Miami and Albuquerque.

The survey found that 45 percent of retailers have increased the use of third-party security personnel.

If you own a retail store or chain and are looking for an experienced outside security team to help fight theft, contact Access Control Security. Access Control Security has been providing retail security services for over 30 years around the country. Our staff works with retailers to determine the most effective use of security. To find out more, call 888-629-7648 or go to https://accesscontrolsecurity.com/quote-request.