Five-fingered discounts? Not in the US

Two divergent trends came under scope recently. Apparently and contrary to popular belief retail theft has decreased by approximately 6.8 percent in the US compared to 2009. The downward trend is credited to an increased spending to reduce the amount and scope of shrinkage.  This is of extreme importance to all shoppers since retails pass losses sustained do to retail theft onto their legitimate shoppers, adding an average of $186 to every family’s shopping bill. That is a huge dent for most during these tough economic times.

Elsewhere around the developed world however, trend held steady the opposite way. Countries like India, Brazil, South Africa and France Britain and Germany shoplifting has continued to grow albeit at a lower pace. Despite these developments, The US apparently leads the way in terms of magnitude of loss standing at approximately $39 billion dollars in losses, followed by Britain with losses standing at a far removed $6.6 billion.

As some wise guy once said “the truth is in the pudding”

Read More: http://bit.ly/cQ7z75 and http://bit.ly/96FI9y

Recession Sparks Global Shoplifting Spree

A few days ago I came across an interesting article from Time.com describing a growing, global shoplifting trend.  Here is an excerpt:

 “The global recession isn’t just making jobs scarce and tightening spending — it’s also turning more people into thieves. According to an annual survey released on Tuesday, incidents of shoplifting rose nearly 6% over the past year, representing nearly $115 billion in losses for businesses. One of the more surprising findings: a growing number of new shoplifters are outwardly reputable, middle-class people who are walking off with French cheeses, quality meats, cosmetics, mobile phones, clothing and other goodies that they feel they need to maintain a quality of life they can no longer afford. “

Read more: http://bit.ly/4rrhoQ

It brought home the point that a new prevention-focus approach is needed to attack this problem.  As a Security Practitioners I’m challenging myself to come with creative ideas to attack the underlying causes of shoplifting.  You’re welcome to share your own ideas.