Shrink is a $45.2 Billion Problem

Promoting and Advancing Petroleum Marketing, Retail Grocery, and Convenience Stores in West Virginia

Driving Local Business and Community Growth Across West Virginia

Our Purpose and Commitment

OMEGA is a West Virginia-based organization dedicated to supporting and advancing the business interests of the state’s petroleum marketing, retail grocery, and convenience store industries.

As a network of over 225 locally owned businesses, OMEGA actively promotes cooperation, advocates for favorable legislation, and provides education and resources to its members. With over 50,000 employees, OMEGA members significantly contribute to the state’s economy, generating more than 10% of all state taxes and supporting local communities through scholarships, charitable donations, and civic involvement.

OMEGA is committed to fostering industry growth while serving West Virginians with essential services like fuel, food, and convenience.

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Join a Community that Champions, Connects, and Elevates!

Your Essential Connection in West Virginia

OMEGA offers three types of membership: Convenience Store Members, Petroleum Marketer Members, and Grocer Members, all of which play a vital role in providing fuel, food, and essentials across West Virginia. As a liaison with state and national agencies, OMEGA works closely with organizations like NACS, PMAA, FMI, and the N.G.A. to advocate on behalf of its members.

We keep members informed through newsletters, legislative updates, an online resource hub, and educational seminars. Additional member benefits include access to the Encova Workers’ Compensation Discount Program and participation in our annual Trade Expo and fundraising efforts for children’s charities. OMEGA is here to support, advocate, and enhance the success of our industry members.

The 2016 National Retail Security Survey, conducted in collaboration by the National Retail Federation and the University of Florida, is a great snapshot into the environment for asset protection. Last year’s report revealed that retailers’ inventory shrink averaged 1.38 percent of retail sales, or $45.2 billion in 2015, up by $1.2 billion from 2014.

By: Doug Baker, Vice President - Industry Relations, Private Brands, Technology, Food Marketing Institute <img src="http://www.fmi.org/images/default-source/blog-images/shrink.tmb-large-350-.jpg?sfvrsn=730b746e_1" data-displaymode="Thumbnail" alt="The impact of SHRINK" title="The impact of SHRINK" style="float: right; margin-left: 10px;" />Asset protection and security is becoming an increasingly more complex job. As the techniques for thwarting and catching criminals become more sophisticated, so too do the bad guys. The <a href="https://nrf.com/resources/retail-library/national-retail-security-survey-2016">2016 National Retail Security Survey</a>, conducted in collaboration by the National Retail Federation and the University of Florida, is a great snapshot into the environment for asset protection. Last year’s report revealed that retailers’ inventory shrink averaged 1.38 percent of retail sales, or $45.2 billion in 2015, up by $1.2 billion from 2014. According to the report, nearly half of retailers surveyed reported increases in overall inventory shrink in 2015. And for the second year in a row, shoplifting surpassed employee theft as the greatest cause of inventory shrink. Regardless of these realities, budgets for asset protection have not increased across the industry. That means AP departments are tasked with figuring out how to do more without spending more. To do that, learning from peers and networking within the industry remains an important priority. FMI is joining up with the National Retail Federation to offer greater value to the asset protection community by combining our events beginning in 2018. This year’s <a href="http://nrfprotect.nrf.com/">NRF PROTECT</a>, to be held June 26-28 in Washington, D.C., will feature an <a href="http://nrfprotect.nrf.com/food-retail-lp-security">expanded offering</a> for food retailers and more exhibit space dedicated to solution providers who focus on serving our community. Our partnership also gets you a discount on the event. Use promo code FMI17 when you register at <a href="http://nrfprotect.nrf.com/register">nrfprotect.nrf.com</a> to get a full conference retail pass at a special FMI price of $750 (a savings of $500). Retail EXPO only passes are free. We hope to see you at NRF PROTECT this year—and watch for the 2017 National Retail Security Survey to be released at the event.

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Supporting West Virginia Communities

OMEGA members play a vital role in West Virginia, supporting communities through substantial tax contributions and a wide-reaching presence across the state. With over 55% of the population living in border counties, our members are dedicated to serving both local and regional needs. Beyond business, we’re proud to give back, having contributed over $3.1 million to children’s charities since 2003, reflecting our commitment to making a positive difference.