NRF: Organized retail crime continues to rise
WASHINGTON — The number of retailers that fell victim to organized retail crime groups has increased, according to the National Retail Federation’s "Organized Retail Crime Survey."
Of the 125 retail companies surveyed for NRF’s eighth annual survey, a record-setting (96%) said their company has been the victim of organized retail crime in the past year, up from 94.5% last year. Another 87.7% said ORC activity in the United States has grown over the past three years.
"What this tells us is that as retailers and law enforcement become more aware of and more proactive in pursuing organized retail crime gangs, criminals have become more desperate and brazen in their efforts, stopping at nothing to get their hands on large quantities of merchandise,” NRF VP loss prevention Rich Mellor said.
On a more positive note, the survey found that more retailers believe law enforcement is aware of and understands the severity and complexity of the issue (40% this year versus 32.3% in 2011). More than half (54.4%) said top management at their company is aware of the problems associated with organized retail crime.
Increases in violence and cargo theft were both found to pose problems for retailers as well. According to the survey, on average, 52.1% of companies have been victims of cargo theft in the past 12 months, up from 49.6% last year. A significantly higher percent of companies this year said cargo theft occurs mostly en route from the distribution center to the store (68.1% versus 57.4% last year). Four-in-10 (43.5%) said these incidents also occur en route from manufacturer to distribution center and 15.9% said they happen at the distribution center.
The survey also indicated a growing trend in the level of violence retailers see when organized criminal gangs are apprehended (15% of incidents versus 13% in 2011). Retailers grappling with these violent acts also reported that they believe more ORC offenders are engaged in drug activity. Nearly half (49%) of respondents estimated drugs and drug-related activity are linked to organized retail crime incidents.
When asked what new trends in organized retail crime they have noticed in the past year, retailers cited familiar issues involving the economy, returned stolen merchandise, gift card fraud and increases in violent activity upon apprehension. However, new to the list of trends this year were specific references to digital receipt fraud; increased "smash and grab" incidents; and collusion with street gangs.
"Though retailers continue to make great strides in their fight against organized retail crime, sophisticated criminals with unending opportunities and anonymous outlets to sell their stolen merchandise are proving to be quite challenging for both retailers and law enforcement agencies working to combat this issue," NRF senior asset protection adviser Joe LaRocca said. "With the types of organized retail crimes changing in severity and scope every day, and cargo theft and violent instances becoming more troubling, retailers are constantly on high alert."
Phusion Projects introduces Island Squeeze in time for summer
CHICAGO — The company behind Four Loko is getting into the frozen cocktail business.
Phusion Projects announced the launch of Island Squeeze, a frozen pouch cocktail. Each malt-based cocktail — which tout 6% alcohol by volume — is individually packaged and can be frozen and squeezed into a glass or served over ice. The line is available in pink lemonade light, pina colada, margarita and strawberry daquiri flavors.
"Phusion Projects continues to bring to market products that appeal to various customers and resonate with what they want," Phusion Projects co-founder Chris Hunter said, "Island Squeeze is the perfect warm-weather drink, doesn’t require a blender, doesn’t make a mess and offers an improved formulation and consistency for consumers in comparison to other frozen pouches."
Island Squeeze pouches are available in 12-packs of 10-oz., single-serve pouches. The suggested retail price for each pouch is $1.99.
Nipro Diagnostics names new CFO
FORT LAUDERDALE, Fla. — Nipro Diagnostics has appointed a new finance chief.
The manufacturer and marketer of blood-glucose monitoring products and supplies for diabetes management said Dean Sorrentino has joined the company as CFO. Sorrentino will have responsibility for the company’s accounting, treasury, tax, legal and information technology functions, and will partner with other senior executives to oversee companywide business operations. Prior to joining the company, he served as VP and corporate controller at CompuPay.
"I am pleased to have Dean join the Nipro Diagnostics team," Nipro Diagnostics president and CEO Scott Verner said. "He is uniquely suited for this position, as he brings extensive financial knowledge, as well as a deep understanding of our business."