June 3, 2013 | Written by: Ralph Jacobson
Categorized: Industry Insights
Retail shrink is as big a problem as it has ever been. Stores magazine has some recent statistics that confirm the problem is global. Both shoppers and consumers drive the loss. Is there anything CPG suppliers can do with retailers to help curb this decades-old trend?
About 6 million retail thieves are arrested around the world each year, and shoplifting by customers and employees accounts for about 78% of all retail shrinkage, according to the U.K.’s Centre for Retail Research and Checkpoint Systems. Increasingly, retailers and law enforcement agencies are working together to fight the costly crime, which totaled $119 billion for retailers in 43 countries in 2011. STORES magazine