Shoplifting top source of retail losses for 4th year: NRF
14 Jun 18 1 min read
Thefts, fraud and losses from other retail ‘shrink’ decreased to $46.8 billion in 2017 from $48.9 billion the year before in the United States as shoplifting and organized retail crime continued to be the leading causes, according to the annual National Retail Security Survey released recently by the National Retail Federation (NRF) and the University of Florida.
Shoplifting and organized retail crime accounted for 36 per cent of losses, followed by internal employee theft (33 per cent), administrative paperwork errors (19 per cent) and vendor fraud or mistake (6 per cent), according to the report.
Shrink averaged 1.33 per cent of sales, down from 1.44 per cent the year before. Fifty nine per cent of retailers surveyed said shrink was flat or decreasing, up from 51 per cent. Only 41 per cent said shrink was growing, down from 49 per cent. (DS)
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Fibre2Fashion News Desk – India
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