Retailers have been warned to be on their guard this Christmas, after a survey suggested increased financial distress could trigger a surge in theft and fraud.
According to a report published by the Centre for Retail Research (CRR) and Checkpoint Systems, more than £1bn worth of products could be lost to crime over the festive period, with £656m taken by shoplifters, £302m stolen by retail employees and another £83m affected by supply chain fraud.
“It shouldn’t come as a surprise to the industry that shoplifting, employee theft and supply chain fraud are likely to increase during the festive period,” said CRR director and study author Professor Joshua Bamfield. “However, the implications should not be underestimated.”
The CRR’s Global Retail Theft Barometer also indicated that the total loss to the UK retail sector from crime and administrative errors totalled £4.9bn between June 2010 and this July. Prof Bamfield pointed out that festive crime is up 6.2 per cent since last year’s report.
The UK Border Agency this week urged online shoppers to stay on the look-out for counterfeit goods this Christmas, with a flood of fakes anticipated in the run-up to December 25.
