Thievery to cost UK retail £1bn this Christmas - ToyNews

Thievery to cost UK retail £1bn this Christmas

Study says shopper and employee thefts could add £38 to each family's shopping bill.
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Shoplifting, dishonest employees and distribution losses will cost UK retail £1 billion this Christmas, according to new intelligence from the Centre for Retail Research.

The figure represents a 3.4 per cent increase over the same period last year.

Apparently, the losses could add an extra £38.09 to each family’s shopping bill. 

Of the £1 billion, £522 million is expected to be lost through shoplifting, £431 million through employee theft, and £47 million through vendor and distribution losses.

Author of the report, Professor Joshua Bamfield, director of the Centre for Retail Research, said: “The Christmas season is an especially attractive time for criminals. Thieves take advantage of busy stores to steal high-value, high-demand goods. As a result, retailers face a big threat from professional and semi-professional thieves, many of whom steal goods with the intention of re-selling them. Organised retail crime is a major concern for retailers – especially since the average amount stolen per incident is much higher than ‘normal’ thefts.”

The study found that the cost of shoplifting and fraud to retailers over the Christmas period would be €5.8 billion in Europe, and $8.9 billion in the USA.

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