workimg

The festive season, what a fantastic time of the year. It's about relaxing in the warm weather, time off (for the lucky ones), and spending time with family & friends. On top of this, our economy thrives as consumers pour into our shops to buy presents, food & drink, toys, gadgets, and more food and drink...

But what's unbeknown to many, the holiday season has an ugly underside known as shrinkage. It's a rather simple term, however, 'shrinkage' refers to a loss of 1.4 billion to our retailers in the six week period over Christmas alone, which is roughly three percent of the predicted Christmas spend - massive numbers, I know! 

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! 

Connect with us