Crime costs retail £4 billion each year

Theft committed by customers and staff rises during the recession.
Author:
Publish date:
5_Retail theft.jpg

Crimes by customers, dishonest staff, supply chain workers and credit card fraudsters costs UK retail £4 billion per annum, according to the Centre for Retail Research. The cost of detection equipment also added to that figure.

The increase is due to higher unemployment, growing debt levels, gambling and 'those aspiring to high lifestyles beyond their means'.

In 2011, shoplifting and ‘organised retail crime’ accounted for around 31 per cent of inventory shrinkage while point of sale thefts by employees made up 45 per cent of all retail losses, revealed Carl Goodman, director of conference production for the Retail Loss Prevention Summit.

Goodman said: "This year looks to be the same, if not more prevalent.

"Despite advances in technology and tactics to detect theft. Stealing by employees is not a problem that’s easy to remedy."

The Retail Crime Prevention Summit takes place on September 12th at the Cavendish Conference Centre in London.

Related

5_High_Street_a.jpg

UK Toy Retail Survey - Part 4

This year we?ve extended the ToyNews retail survey with the help of Carrick James Market Research, which compiled the results independently for us. Ronnie Dungan analyses the results....

Featured Jobs

Copyrights Group

Marketing Manager

The Copyrights Group is one of the licensing arms within The Vivendi Group. Acquired by Vivendi in 2016 Copyrights manages the licensing for a portfolio of properties to include Paddington Bear. Some of the other companies within the Vivendi Group include Universal Music Group, and their licensing arm Bravado, Gameloft and Studiocanal to name a few.