NRF Data Shows Retail Inventory Shrink Increased to $45.2 Billion in 2015
June 16, 16
(IDEX Online News) – The 2016 National Retail Security Survey, a collaboration between the National Retail Federation and the University of Florida showed that retailers’ inventory shrink was $45.2 billion, up by $1.2 billion on 2014.
According to the report, 47 percent of the 80 survey respondents reported increases in overall inventory shrink in 2015, with shoplifting accounting for the greatest share, with an average loss of $377 per incident, up almost $60 compared to 2014.
A significant rise in robberies costing businesses an average $8,180.17 compared to $2,465 in 2014 was driven by an increase in jewelry stores reporting 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.”
The survey was conducted from March 22-April 22.