Retail
Loss Prevention Research Reveals Changing Practices; Six
Million Thieves Apprehended Annually Is Tip of Iceberg
Report Analyzing Global
Retail Crime Available via Free Download From
Checkpoint Systems
LONDON & THOROFARE, N.J.--(BUSINESS WIRE)--
A
new report that analyzes global retail crime and loss
prevention (LP) trends since 2001 has found, among various
areas researched, that the number of retail thieves
apprehended annually continues to be about six million, and
this is just the very tip of the iceberg. More than 78% of
shrink is due to shoplifting by dishonest customers or
retail employees. New products in fast-paced categories such
as electronics, perfumes and sportswear being brought to
market every year at premium prices are among the most
likely to be stolen. Fresh meat remains a high-theft
category for supermarkets and hypermarkets.
Retailers have, however, taken action in recent years. Of
the 50 most stolen products, the number of items protected
from theft has increased from 60% in 2007 to 75% in 2011
with EAS (Electronic Article Surveillance) source tagging
and special high-theft solutions implemented by more
retailers each year.
More than 86% of the LP professionals surveyed saw inventory
management and/or loss prevention as primary drivers to
implement RFID (Radio Frequency identification).
The report also points out that the role of LP departments
is evolving to increasingly provide a strategic service to
the other areas of the business. Online retailing and new
payment systems such as smart-phones bring new risks to the
industry, meaning that LP professionals would benefit from
working closely with IT, store operations and marketing in
the fight against crime. The report notes that this
collaboration draws on joint methods for analyzing shrink
while data obtained from electronic surveillance and RFID
solutions is often used to make improvements in marketing,
operations and logistics.
While the report points out the clear correlation between
loss prevention spending and lower shrink, the length and
depth of the global recession has resulted in increased
rates of shrink since 2007. The report, produced by the
Centre for Retail Research, includes recommendations for the
retail industry. The report is available via
free download from
Checkpoint Systems.
“Changing Retail, Changing Loss Prevention” analyzes the
evolution of retail crime and loss prevention uncovered by
the “Global Retail Theft Barometer” publications since 2001.
Per Levin, president, Shrink Management and Merchandise
Visibility Solutions, Checkpoint Systems, said, “In this
ever changing environment, we are pleased to support the
global retail community with research that offers benchmarks
and practical insights with the objective to help retailers
improve their merchandise availability and grow sales
profitably.”
Sample topics within the report include the following:
• Sources of Retail Shrink
• Trends in Shrink
• Explanations for Shrink Growth During the Recession
• The Impact of Organized Retail Crime
• Refund Fraud
• Impact of investment in Loss Prevention
• Changing Patterns in What People Steal
• Most Stolen Items
• Electronic Tagging and RFID
• Detailed Report Conclusions
Interested parties may obtain a full version of the 17-page
report
here.
CONTACT:
George Cohen (for Checkpoint)
GCC, Inc.
617-325-0011
george@gccpr.com
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