This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

National Retail Security Survey Reveals U.S. Retail Industry Lost More Than $35.28 Billion To Theft In 2011

Employee theft, shoplifting/organized retail crime and administrative error are the main sources of loss affecting retailers, according to an annual survey conducted by the University of Florida with a funding grant from Tyco Integrated Security, the industry’s leading security systems integrator, and Tyco Retail Solutions, leading global provider of retail performance and security solutions.

The 2011 National Retail Security Survey found that retail shrinkage in 2011 was 1.42 percent, down from 1.49 percent from the previous findings in 2010. This calculates to an approximate $35.28 billion annual loss to retailers as a direct consequence of preventable inventory issues, with 44.2 percent attributed to employee theft, 25.8 percent to shoplifting and organized retail crime and 12.1 percent to administrative error.

"The decrease in retail theft indicates retailers are implementing effective loss prevention solutions in order to diligently protect their assets," said University of Florida criminologist Richard Hollinger, Ph.D., who conducted the survey. "The holiday season is an important time for retailers to evaluate their security solutions, and the growing adoption and awareness of better loss prevention strategies has continued in the recent trend of reduced retail losses and improved profitability."

According to NRF, 2012 holiday sales are trending to increase 4.1 percent to $586.1 billion, confirming retailers need to ensure their shrinkage is low in order to capitalize on increased sales. With improved technologies and a large number of consumers accessing retailers’ inventories from multiple touch points, inventory visibility and accuracy is key for loss prevention this holiday season.

“With the holidays and 2013 planning in full swing, it’s important for retailers to take a look at these statistics and evaluate security strategies accordingly,” said Michael Creedon, Vice President, Retail Sales and Operations, at Tyco Integrated Security. “While theft is down this year, organized retail crime is on the rise and loss prevention solutions remain very important to help shrinkage continue to decline and operations run more efficiently and effectively.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,147.98 -226.78 -1.38%
S&P 500 1,928.49 -22.64 -1.16%
NASDAQ 4,701.8810 -31.6160 -0.67%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs