Christmas crime will cost retailers £1 billion - PC Retail

Christmas crime will cost retailers £1 billion

Mostly through shoplifting and employee theft
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Retailers in the UK could be facing up to £1 billion combined losses caused by crime this Christmas.

According to the Centre for Retail Research, the biggest losses are likely to come from theft, both by customers and employees, with a small addition likely to arise from vendor or distribution losses.

The report forecasts losses of £522 million through shoplifting, £431 million through employee theft and £47 million through channel losses. These figure represent a 3.4 per cent increase year-on-year.

“During Christmas, consumers spend 60 per cent more than in other months, and retailers need to ensure the merchandise is available on the shelves for consumers to buy,” said Per Levin, president of the research sponsor, Checkpoint Systems.

“We know from Professor Bamfield’s past studies that there is a clear correlation between investments in preventive solutions and the rate of shoplifting. With the right solutions in store, it is possible to reduce the threat of further losses, increase merchandise availability and reap the maximum returns during holiday season.”

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