68% of retailers said ORC gangs had shown more aggression or violence in 2018
The number of retailers suffering from organized thefts revealed. Source: shutterstock.com
According to the National Retail Federation, organized retail crime (ORC) affects almost all merchants. This way, more than two-thirds of those surveyed have seen an increase in the past year.
97% of retailers had been victimized by ORC in 2018, whereas 68% had seen an increase in ORC activity, the research says.
Almost 65% of retailers said ORC is a higher priority for their companies than 5 years ago, while 56% were allocating additional technology to the issue. The research revealed 44% were increasing their loss prevention budgets.
Among the steps taken, 38% of retailers had changed or were planning to change return policies to fight ORC. At the same time, 37% were doing the same with point-of-sale policies, 27% with employee screening and 24% with the way they handle trespassing.
SEE ALSO:
Pay Space
Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.
