Organized Retail Crime and How It Impacts Retailers
I would want you to ask yourself these questions as it is paramount to our discussion:
- What is organized retail crime?
- What impact does it have on retailers?
I would elaborate on the questions as well as pointing out solutions to the menace.
- Organized Retail Crime (ORC)
Organized retail crime is merely the purchasing of stolen goods to resell at a higher price or move large amounts of merchandise to a “middle man” who resells it to the community. Often, ORC merchandise is re-entered into the logistics chain to be re-worked back into the stores.
This is absurd and inhuman.
The greed for quick wealth by individuals and organizations has wrecked havoc on the society, economy as well as the ethics and norms of businesses.
However, the increase in crime rate is not limited to the physical but e-commerce operations as well.
Thus, organizations such as the pawn shops, temporary set up stores, third party website, auction blogs, flea markets and the rest of them have tremendously influenced the rate of organized retail crime.
In fact, it has led to quite some disturbances in the internet world with series of fraudulent activities to the usual theft and fencing which has resulted in losses in billions of dollars.
Is this the right attitude as retailers?
If you say yes! What legacy are you living behind for the younger generation?
How about the effects it has on retailers?
OK! Let’s dig into the impact on retailers.
- The Impact
Majority of the retailers are corrupted by this detestable act. While some remain honest in their dealings.
Apparently, most of the stolen goods pose a significant threat to living as many of the consumables might expire and be consumed by the poor.
Unfortunately, the network is rigid and well organized that law enforcement agencies have found it hard to break.
The massive loss incurred on a daily basis is unbearable as billions are lost to this notorious gang.
Although I firmly agree that the entire system has been rigged. Thus, what effort are you making to balance the trend?
What drastic measures can affect total change?
Though there are a lot of ways in keeping balance, I have carefully explained certain steps below as a means of solution to ORC.
- The Solution
The National Retail Federation (NRF) cannot handle it alone. However, the government is trying its possible best to see that proper measures are taken to impact this issue.
Also, symposium, seminars and other events should regularly be created to educate the public on its dangers to the economy.
Law Makers need to continue to effect laws aimed at these organizations to strengthen penalties. Retailers need to partner with local Law Enforcement to focus on the largest of the cases. Lastly, retailers need to join their ORC teams together to go after the issue as a team, not as a silo.
October 14, 2019
September 08, 2019