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Shoplifting and employee theft in the US cost the retail industry and consumers billions of dollars annually. No other category of property crime costs the economy more than these two forms of larceny. This study explores the effectiveness of different strategies used by loss prevention departments to reduce this deficit, which retailers call ‘inventory shrinkage’. Using data collected from the University of Florida's 2003 National Retail Security Survey, this research examines the empirical relationship between various loss prevention strategies and levels of inventory shrinkage. Specifically, the study investigates the role played by employee integrity screening measures, loss prevention awareness programs, asset control policies, and loss prevention systems in preventing and reducing crime levels in the retail industry.
