Cost of Crime
The value of retail goods stolen rose 20% to £4.9 bn in the year to June 2009, as reported by the 'Centre for Retail Research'. The UK having the highest amount, in terms of value of goods, shoplifed in Europe, and was third highest globally after the US and Japan.
According to the report, employees are the most prolific, accounting for an average loss of £1,600 worth of loss prior to being detected, compared with an average of £80 for shoplifters.
“The UK's retail industry has seen its largest ever increase in shoplifting over the last 12 months, and it comes at a time when the industry can least afford it".
"Retailers simply cannot afford to ignore this problem, it is not going to go away and is the equivalent of criminals taxing every UK household £227 per year."
Neil Matthews, Checkpoint Systems VP.
As a result, the retail industry (along with other business sectore affected by these problems) is determined to implement a robust deterrent to protect itself against losses that are incurred as a direct result of malicious acts. Over the past year UK retailers invested an estimated £926m in security measures to combat theft, including; paying for security staff, electronic tags and CCTV.
2010 - Crime cost British retailers more than £4.4 bn
Staff crime costs retailers £1.62 bn
- Customer Theft £1886m
- Employee Theft £1624m
- Distribution Chain Theft £154m
- Security Costs £977m
Shoplifting cost the retail industry in excess of £1.88 bn in 2010
2009 - Crime cost British retailers more than £4.9 bn
Staff crime costs retailers £1.47 bn
- Merchandise theft £449m
- Cash, coupons £402m
- Refund fraud, false markdowns and collusion £324m
- High value fraud £120m
Shoplifting cost the retail industry in excess of £1.7 bn in 2009
"Global Retail Theft Barometer"