Organized retail crime (ORC),
Organized retail crime (ORC), according to National Retail Federation’s Ninth Annual Retail ORC Survey, has grown significantly over the past few years, costing retailers $30 billion a year. ORC reported by top-level retail executives includes eFencing (72%), Physical Fencing (69%) and Cargo Theft (48%). These are all a continuing concern, but the newest and most troubling trend reported was Store Merchandise Credit/Gift Card Fraud, which came in at 78%.
This kind of theft occurs when stolen merchandise without a receipt is returned to a store and is exchanged for store credit in the form of a gift card. The gift card is then sold for cash to secondary markets.
Although the complexity of the issue is becoming increasingly understood by both law enforcement and top level retail management, it is still a problem to be reckoned with to stop the drain on retail profits.
Having the right POS Software and the knowledge of how to use it effectively may be a start in the right direction. Call us today for information about NCR’s Counterpoint Software and the training classes we offer to help you use it with expertise.
Our phone number is 425-672-4806 or you can email us. Now is the time to act!