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Cost of retail crime skyrockets nearly 30 percent

Maria Korolov | Nov. 10, 2014
Overall jump linked to increase in employee theft and higher security spending.

Most-stolen items were primarily products that were easy to conceal and easy to resell, with shoplifters and dishonest employees preferring fashion and mobile accessories over clothing and mobile handsets. Other frequently stolen items included power tools, wines, and make-up.

The US retailers with the highest shrinkage rates were discounters, pharmacies and drugstores, and supermarkets and grocery retailers. This was due to the widespread prevalence of organized retail crime and lower loss prevention spending for some of these merchants, the report explained.

The study was based upon in-depth phone and written survey interviews conducted in 24 countries among 222 retailers representing $744 billion in sales in 2013.

 

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