According to the 2016 National Retail Security Survey, conducted in collaboration by the National Retail Federation and the University of Florida, the retailers’ inventory shrink averaged 1.38 percent of retail sales, or $45.2 billion in 2015, up by $1.2 billion from 2014. The survey of 80 senior retail loss prevention executives from various sectors was conducted March 22 to April 22, 2016.

The report notes that 47 percent of retailers surveyed reported increases in overall inventory shrink in 2015, with shoplifting accounting for the greatest cause with an average loss of $377 per incident (39 percent), up nearly $60 from 2014. Robberies continue to be a growing expense for retailers, costing an average of $8,180.17, up from $2,465. The rise in robberies in 2015 was driven by an increase in jewelry stores reporting extremely high average losses.

“With a constantly evolving retail landscape, loss prevention becomes more complex every day,” said NRF Vice President of Loss Prevention Bob Moraca. “LP professionals have been working diligently to find advancements in technology aimed at deterring crime in our industry, sometimes even before it happens – but as our techniques get more sophisticated, so too do the criminals.”