In this article, the Australian Retailers Association (ARA) Executive Director, Russell Zimmerman spoke on these figures and what retailers need to be ready for.
“Theft is a serious problem for retailers, accounting for around three percent of all retail spend,” said ARA Mr Zimmerman.
“Christmas is a prime time for thieves because with more people in shops it allows more opportunity to slip under the radar unseen. Despite new and sophisticated technologies aimed at stopping these criminals, thieves are also becoming smarter and employing their own advances techniques to commit crimes,”
When we look at the figures of shrinkage globally, it's a 123 billion dollar cost bombarding into retailers bottom line, according to the Global Retail Theft Barometer - these same costs are hitting Australian families to the tune of $420 annually.
Leading into Christmas, we're encouraging our clients, particularly those in the retail field to be adequately prepared for the Christmas Grinch! (retail-theft)
But while these numbers are a little-doom-and-gloom, the Australian retail industry as a whole is standing up to retail theft. Loss prevention is becoming an important issue for every brand as they take advantage of the latest technology in the retail theft.
If you're in need of advice around latest in loss prevention and combating shrinkage, contact > Mark or Lorri here < who between them have years of anti-theft product knowledge and retail store/management experience.
Great preparation begins November!