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Did you know Delaware's retail industry supports 26% of the state's jobs? Our affiliate, the Delaware Retail Council seeks to support and improve the retail climate in the First State by responding to and advocating for national and local policies that could impact the sector.
That is why I am in San Diego, California this week attending the Council of State Retail Association's (CSRA) Annual Meeting. The CSRA acts as a forum for discussion of important issues of primary concern on state legislation and regulations affecting the retail industry. One such topic that my state retail association counterparts and I will explore is organized retail crime (ORC)—not a new priority for the sector, but one of increasing concern that is difficult to control.
According to the National Retail Federation, 70% of retailers believe that the threat of ORC has increased over the past five years. Last week CNBC released a story on the increase and points out: "Retail theft is real and causes major issues for businesses, but companies are not required to report data on how it is affecting them and it is nearly impossible to verify their claims."
It's important to note that ORC doesn't just effect larger, household retailers like Target, Walmart, or Lowes. Mid- and small-sized retailers in our local communities also experience theft. Sonia Lapinsky of AlixPartners explains in the article that lost inventory is an “incredibly complex thing to track and measure” because it can come from many sources at all points in the supply chain, from the factory to the store. “Not that many retailers are sophisticated enough to track it at all the different points,” said Lapinsky.
As the industry continues to explore and quantify the issue of organized retail crime, we at the Delaware State Chamber remain engaged in helping our retail members, and the industry as a whole in our state, finding possible solutions—whether that be through policy, increasing law enforcement and prosecution involvement, or identifying new systems and technology to implement.
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