Study: Shoptlifting Costs Retailers $10.5 Billion Annually
GAINESVILLE, Fla.
The University of Florida recently released its annual National Retail Security Survey, analyzing theft incidents from 107 of the largest U.S. retail chains. Results indicate that retailers lost nearly $10.5 billion in sales to shoplifting, according to SecurityPark. Both employee theft and shoplifting are on the rise and remain the largest single larceny category in the United States, more than car theft, bank robbery and household robbery combined.
Sponsored by ADT, the survey shows retailers are spending more to combat retail theft, says Rex Gillette, vice president of retail national accounts for ADT.
“Dishonest employees and shoplifters tend to go the path of least resistance and will target a retail location that has not invested in technology to prevent theft,” he says. SmartEAS, source tagging and digital video surveillance systems fight against revenue loss, as do digital video recording systems, public view monitors and anti-shoplifting systems, which continue to be popular among loss-prevention professionals.
According to SecurityPark, shoppers also benefit from these high-tech systems, as they result in a safer shopping experience, lower prices and a wider selection of products.
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