Audio in retail can do much more than just secure your brick-and-mortar location; it can provide valuable business insights, protect you from liabilities, and help you to better understand the challenges your company faces.
According to the 2017 Organized Retail Crime survey by the National Retail Federation:
- 40% of companies have experience cargo theft within the last year.
- 63.3% of retailers said they have fallen victim to fraudulent returns of stolen merchandise.
- 94.4% of surveyed retailers believe their company has been a victim of organized crime.
- This organized crime costs the retail industry approximately $30 billion every year.
- On average, organized retail crime costs retailers $726,351 per every $1 billion in sales.
- Only 20% of retailers believe their management has a full understanding of the organized retail crime that affects their business.
- 60 % of retailers answered “no” when asked if their company was allocating additional resources to address theft and loss.
According to the 2018 Retail Security Survey conducted by the National Retail Federation:
- Shoplifting accounts for 35.7% of loss and shrinkage for retailers, with internal / employee theft closely trailing at 33.2%.
- The average dollar loss amount per shoplifting incident is $559.
To learn more about audio in retail solutions and their benefits for retail environments, see our Retail Industry Page