Thefts for re-sale is leading cause of loss among UK businesses.
Retailers in the United Kingdom are being warned to prep for a rise in shoplifting and fraud this Christmas, with £1 billion of losses expected over Christmas as a result of shoplifting, dishonest employees and vendor or distribution losses.
The findings are part of a new study released this week by the Centre for Retail Research. The report found that UK retailers could lose £522 million through shoplifting, £431 million through employee theft, and £47 million through vendor and distribution losses. In total, the losses could represent a 3.4% per cent increase over the same period last year.
Professor Joshua Bamfield, director of the Centre for Retail Research and author of the report, 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 [typical] thefts.”
The Shoplifting for Christmas 2012 report revealed the product categories most likely to be stolen over the Christmas period, which including fashion accessories and watches and jewellery.
Overall, the study found that the cost of shoplifting and fraud to retailers over the Christmas period would be €5.8 billion (£4.7bn) in Europe, and $8.9 billion (£5.5bn) in the USA.