Retailers Report Growing Loss from Theft and Organized Retail Crime, New Study Finds

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RSR Research, an analyst firm providing market intelligence on retail technology trends, announces the results of its latest research report, "Loss Prevention 2010: Retailers Battling Shrink in Tough Times," sponsored by SAS and Sensormatic, and developed in partnership with Retail Industry Leaders Association (RILA). The research finds that retailers, faced with growing shrink and efforts by organized retail crime, expect more from their current Loss Prevention (LP) initiatives to improve gross margin, and reduce theft from individual employees, customers and organized retail crime rings.

The key to combating shrink today lies in better Business Intelligence tools

RSR Research's latest report, "Loss Prevention 2010: Retailers Battling Shrink in Tough Times" finds more retailers than ever reporting the priority of LP rising in their organizations. These findings are based on a survey of 83 retailers in the autumn of 2009. The report can be downloaded at http://www.retailsystemsresearch.com/_document/summary/1037. The report is sponsored by SAS and Sensormatic, and was developed in partnership with RILA, a leading retail trade association.

"The key to combating shrink today lies in better Business Intelligence tools," said Paula Rosenblum, Managing Partner at RSR Research and co-author of the report. "Sixty three percent of the total response pool cite ‘better business intelligence to analyze data’ as a top way to overcome problematic inhibitors, a sentiment echoed even more loudly by those retailers who are already the best performers (Retail Winners): 79% of Retail Winners say that better BI tools are the number one way to get past their current LP issues."

"Organized Retail Crime (ORC) is a greater concern for larger retailers," adds Casey Chroust, Executive Vice President of Retail Operations at RILA. "Sixty percent of retailers with annual revenue greater than $5 billion rate ORC as a top-three business challenge, and retailers’ troubles with employee theft may often involve collusion with outside crime rings and thieves. The problem of ORC in retail is only growing."

"Loss Prevention 2010: Retailers Battling Shrink in Tough Times" contains analysis of the business drivers, opportunities, and organizational constraints surrounding Loss Prevention initiatives, as well as recommendations for creating successful LP capabilities. The report is part of RSR Research's ongoing efforts to provide market intelligence on retail technology trends, and can be downloaded here:
http://www.retailsystemsresearch.com/_document/summary/1037

About RSR Research:
Retail Systems Research (“RSR”) is the only research company run by retailers for the retail industry. RSR provides insight into business and technology challenges facing the extended retail industry, and thought leadership and advice on navigating these challenges for specific companies and the industry at large. RSR’s services include benchmark reports covering the state of retailer technology adoption for topics ranging from merchandising and supply chain, store operations and workforce management, to customer-facing and multi-channel technologies. Custom research reports provide more in-depth views into topics of industry interest, and advisory services help retailers and technology vendors make the most of the insights RSR provides. To learn more about RSR, visit http://www.rsrresearch.com.

About RILA:
RILA is the trade association of the world’s largest and most innovative retail companies. RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs and operate more than 100,000 stores, manufacturing facilities and distribution centers domestically and abroad.

For more information visit http://www.rila.org

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