Walmart & NRF discuss the impact of ORC
Earlier this week, Walmart U.S. CEO and NRF Board Chairman John Furner joined NRF President and CEO Matthew Shay for a fireside chat to discuss the importance of collaboration in combating retail security issues such as organized retail crime (ORC). The conversation took place during NRF protect in Grapevine, Texas, where more than 2,000 professionals convened for the retail industry’s premier event for the loss prevention, asset protection, digital fraud and cyber risk communities.
On the Evolution of Retail Crime, Furner said, “The complexity in the environment has changed pretty considerably over the last three decades. But the amount of retail crime we are seeing across the country has increased pretty precipitously over the last three to four years. The sophistication of the bad actors, the threat actors, has also increased. The solution is a combination of talent, tools, technology and coalitions of industry, society and government, all working together to solve this issue.”
On the Growing Concerns Surrounding ORC Shay said, “It has become very clear, both anecdotally but now very quantifiably, that what’s happening with organized retail crime is a growing and a persistent threat and a really acute challenge. This is about the safety and health of customers and of communities, and certainly of those millions and millions of associates and team members and partners that work across the retail industry.”
On the Need for a Collaborative Approach, Furner expressed that “It is a threat to all companies and all members that we serve. I’d encourage everyone to, when possible, share the data so that we can work together to get ahead of some of these issues.”
On the other hand on Advocating for Federal Solutions, Shay suggest that, “Last year, we were able to get the Inform Act across the finish line. And the Combating Organized Retail Crime Act, which we’re now working very aggressively to get through Congress, will give federal agencies the authority to convene and collaborate and distribute resources to law enforcement agencies across the country to the areas that need it.”
NRF and the retail community strongly support the Combating Organized Retail Crime Act, legislation that would equip law enforcement agencies with the necessary tools and resources to effectively address this issue. Learn more about NRF’s grassroots campaign urging Congress to support this bipartisan solution to fight retail crime.
Heera Zhaveraat (HZ International) A Diamond, Watch and Jewellery Trade Promotion Magazine provide dealers and manufactures with the key analytical information they need to succeed in the luxury industry. Pricing, availability and market information in the Magazine provides a critical edge.
