THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
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.

GENERAL MERCHANDISE

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.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process