Reuters - Retail theft and fraud cost U.S. retailers a record $41.6 billion last year, although the percent of sales the industry lost through activities like organized crime and employee theft remained almost flat, according to a survey released on Monday.
1 comment:
As a Loss Prevention Consultant in the retail arena I have to add one hidden point in these numbers. They are a guesstimate.
The survey participants know what their losses are but they really have no way of knowing what percent is employee, or shoplifter, or paperwork. Having come from a corporate retail environment and having participated in these surveys I feel the estimates are best guesses.
Organized crime is alive and well in the retail sector. Top items: razor blades, baby formula powder, OTC drugs.
Pat Murphy
LPT Security Consulting
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