Financial Analysis of Retail Crime Prevention (From Business and Crime Prevention, P 249-261, 1997, Marcus Felson and Ronald V Clarke, eds.)

• NCJ Number: 165685
• Author(s): R L DiLonardo
• Date Published: 1997
• Length: 13 pages
• Sale Source: Criminal Justice Press/Willow Tree Press
• Publication Type: Report (Technical Assistance)
• Language: English
• Country: United States of America

Annotation

Analysis of the financial impact of shoplifting on a hypothetical men's clothing store is used to demonstrate the successful implementation and continuation of crime prevention strategies in retail businesses.

Abstract

Retail loss prevention has become more complex over the last 25 years due mainly to the extremely competitive business climate. Loss prevention programs that cannot demonstrate statistical and financial effectiveness will probably not be established. Even programs demonstrating these two traits may not compete successfully other potential expenditures deemed more critical to the business. The analysis of the financial impact of a hypothetical shoplifting includes tracking the item from when it was originally ordered to when its replacement is ordered, comparing these losses to other financial losses experienced by the company and looking at the costs of shoplifting prevention measures. The academic and business communities have the opportunity and the obligation to use the tools at their disposal to prepare and defend loss-prevention theories and practices. Future collaborations among these communities can provide extremely important knowledge for the security industry. Note and 10 references (Author abstract modified)