244. What retailers need to know about increasing organized retail crime
Retail Gets Real · with Tony Sheppard · November 2, 2021 · 22 min
Summary
Organized Retail Crime (ORC) is a growing threat, intensified by the pandemic, that goes beyond simple shoplifting. This episode with Tony Sheppard from ThinkLP breaks down why ORC is rampant and provides retailers with concrete strategies to protect assets, leverage technology, and collaborate with law enforcement to build resilient operations against evolving criminal tactics.
Key takeaways
Differentiate ORC from petty theft: Understand the motivations and methods of organized rings versus individual shoplifting to tailor prevention strategies effectively.
Leverage technology for prevention: Implement advanced surveillance, AI, and data analytics to detect and deter ORC activities, moving beyond traditional security measures.
Collaborate with law enforcement and other retailers: Share intelligence and coordinate efforts to disrupt ORC networks, as these crimes often span jurisdictions and target multiple businesses.
Adapt loss prevention for modern threats: Review and update your loss prevention strategies to account for new ORC tactics, including those exploiting e-commerce and supply chain vulnerabilities.
Prepare for legislative changes and advocacy: Stay informed about potential legislative solutions and consider advocating for policies that support retailers in combating ORC.
The retail industry has been dealing with organized crime for many years, but the topic has gained new attention in the media of late. In this episode, Tony Sheppard, the director of loss prevention solutions at ThinkLP, talks about why we’re hearing so much about these problems right now, how the pandemic has impacted the problem, and how retailers can combat the issue and plan for the future. Learn more at retailgetsreal.com.
What does this episode say about retail & omnichannel?
Differentiate ORC from petty theft: Understand the motivations and methods of organized rings versus individual shoplifting to tailor prevention strategies effectively.
What does this episode say about supply chain & operations?
Leverage technology for prevention: Implement advanced surveillance, AI, and data analytics to detect and deter ORC activities, moving beyond traditional security measures.
What does this episode say about ai & automation?
Collaborate with law enforcement and other retailers: Share intelligence and coordinate efforts to disrupt ORC networks, as these crimes often span jurisdictions and target multiple businesses.
What does this episode say about founder & leadership?
Adapt loss prevention for modern threats: Review and update your loss prevention strategies to account for new ORC tactics, including those exploiting e-commerce and supply chain vulnerabilities.
What does this episode say about retail & omnichannel?
Prepare for legislative changes and advocacy: Stay informed about potential legislative solutions and consider advocating for policies that support retailers in combating ORC.
