The National Retail Federation recently released their latest data on organized retail crime (ORC). Unfortunately, organized retail crime is still a rampant problem that can have a catastrophic effect on a store’s bottom line. Nine out of ten retailers surveyed experienced ORC in the last year.
The 10 Items Most Frequently Stolen from Retail Stores
One of the questions that that the NRF asked retailers is to list the items that are most frequently stolen. As it turns out, organized retail criminals have a strong preference for items that can be quickly resold. What is compelling is the mix of high-end luxury items (e.g. designer handbags and high-end alcohol) and everyday commodities (razors and infant formula).
Teeth Whitening Strips
The Best Way to Prevent Retail Theft and ORC
Retail theft can have a catastrophic effect on a company’s overall revenue. However, face recognition can help dramatically reduce external shrink by up to 34%.
When known retail criminals enter a store, the FaceFirst system matches it against thousands of faces in the database, instantly alerting the store’s loss prevention team. Simply offering that person customer service will almost always deter them from shoplifting.
Face Recognition + EAS
From surveying our customers, we’ve found that face recognition is even more effective when combined with electronic article surveillance technology. The moment a tag triggers an alarm, the thief’s photo can be instantly enrolled in a database using surveillance footage. Then, if the thief tries to return to the same store, or even a different store location, FaceFirst can automatically alert the loss prevention team. The combination of face recognition and EAS is especially powerful, considering that many organized retail criminals prey upon many locations. If you are using EAS, be sure to add tags to the hot-button items listed in this post.