Retailers should guard against rise in retail theft this Christmas
Retailers are set to face one of the most difficult festive periods on record as experts predict a sharp rise in Christmas shoplifting, employee theft and supply chain fraud.
The Centre for Retail Research is predicting that over £1 billion worth of goods will be lost from stores in the run up to Christmas. This includes an additional £61 million worth of goods expected to go missing during this year’s festive season compared to 2010.
Professor Joshua Bamfield, director of the Centre for Retail research and author of the study, said: “Christmas crime has increased by 6.2% since the 2010 research, which is symptomatic of the tough times we are facing as a nation. The double pressures of a weak economy combined with the most expensive time of the year will inevitably lead to an increase in loss so unfortunately it is likely that it will worsen further before it gets any better.”
Of the £1.041 billion set to go missing during the holiday season, £656 million is expected to be down to shoplifters with a further £302 stolen by staff and £83 million lost through supply chain fraud.
Neil Matthews of Checkpoint Systems, sponsors of the centre’s Global Retail Theft Barometer added: “We are naturally advising retailers to be on their guard during the holiday season. With more customers passing through the doors and additional staff drafted in to cover the busy period, it is essential that store operators are vigilant and aware of the potential risks before they arise.”
The Global Retail Theft Barometer recently highlighted that retailers lost £4.9 billion due to shoplifting, fraud, organised retail crime and administrative errors between June 2010 and July 2011.
