shoplifting this holiday season
TRANSCRIPT
SHOPLIFTINGThis Holiday Season
What Retailers and Brands Still Can Do To Plan Ahead Of The
Holiday Shopping Season!
of Shoplifting On Retail Sales &
How To Prevent Loss This Holiday Shopping Season
IMPACT
Who Is A Shoplifter?
As per Wikipedia, Shoplifting (also known in slang as boosting and five-finger discount) is a popular term used for unnoticed theft of goods from an open retail establishment.
In simple words, Shoplifters can be male or female, any race or color, as young as five or well into their 80's. Anyone who deliberately takes merchandise from a store without paying for it is a shoplifter, whether the theft is large or small, premeditated or impulsive.
Shoplifters could be Amateurs, Professional, Juvenile, Kleptomaniacs (Winona Ryder), Narcotics Addict or Vagrant.
Where Is The Global Retail Theft?
$214 Billion
Globally
N. America34%
LATAM6%
Europe32%
APAC28%
On an average, there are 550,000 shoplifting incidents per day.
$13Billion plus worth of goods are stolen from retailers each year which is over $35 million per day.
Source: www.pricegun.com Shoplifting Facts & Figures
Did You Know?
Shoplifting is America’s No. 1 Property Crime
The Highest Loss by Country
$36.79B $26.06B $14.90B
1st
USA2nd
China3rd
Japan
Source: The Global Retail Theft Barometer Report 2015
The Main Sources Of Shrinkage
39%DishonestEmployee Theft
38%Shoplifting
16%Administration/ Non-Crime Losses
7%Supplier Fraud
Source: The Global Retail Theft Barometer Report 2015
Shrinkage Costs
$123.4 BillionUS
To Retailers Globally1.23%
Of retail
sales
Source: The Global Retail Theft Barometer Report 2015
46% of Loss Happens In Winter
Which Season Is The Maximum Retail Loss?
Source: The Global Retail Theft Barometer Report 2015
Products easy to conceal, with wide public appeal & ready market for resale
The Most Stolen Merchandise
Source: The Global Retail Theft Barometer Report 2015
The Highest Loss By Vertical
1.99%
Pharmacies Drugstores
1
1.80%
Apparel2
1.73%
Jewelry& Watches
3
+Source: The Global Retail Theft Barometer Report 2015
Average Cost of Retail Crime Per Household
335$US
252
€
2.59
$HK
Source: The Global Retail Theft Barometer Report 2015
1/3 of Businesses fail due to Shoplifting
Source: http://rentonwa.gov/
1 out of 11 shoppers have been a Shoplifter
at least once.
There are approximately 27 million shoplifters in US alone,
however only 1 out of 48 get caught.
Source: NASP
75% of Shoplifters are Adults
25% of Shoplifters are Kids 55% of Shoplifters have been doing it since teenage
Source: NASP
3% are Professional Shoplifters and Habitual Shoplifters steal an average of 1.6 times per week
Source: NASP
KEY LOSSPREVENTIONBEST PRACTICES 5
SecurityProtected
Source: The Global Retail Theft Barometer Report 2015
Leveraging Internal DataTo better understand shrink performance metrics at SKU, category & store levels
Source: The Global Retail Theft Barometer Report 2015
Using A Mix Of Loss Prevention SolutionsEASFixturesManual screeningEmployee training
To Prevent External Theft
Source: The Global Retail Theft Barometer Report 2015
EstablishingAwareness ProgramsIncluding store signage for everybody to know the techniques & solutions used by retailer to prevent theft
SecurityProtected
Source: The Global Retail Theft Barometer Report 2015
Using Source-TaggingSecurity
ProtectedReduces store labor and ensures tagging compliance
Source: The Global Retail Theft Barometer Report 2015
Conducting Pre-Employment
Background screenings of potential employees to decrease dishonest employee theft
Store Prevention Statistics
Preventive Methods Used By Retailers
Using visible cameras to prevent people from shoplifting is the least effective approach. Stores with an observation booth were only shoplifted 2%. This is the most effective prevention method!
The chart shows the percentage stores were shoplifted, using each prevention method.
Source: www.pricegun.com
Online RetailThe Way Forward
www.Shoppingonline.com
Shoplifting exclusively happens at Brick & Motor stores
How Does It Help Move Away From Shoplifting
Christmas shopping accounts for 19.2% of all retail sales in US. Going online helps prevent loss from Shoplifting when sale
volume is very high.
Source: www.statista.com
• During the Holiday season website views increase by 120%, creating more demand online
• Around 264% more customers wait to chat with an online sales representative.
• Moreover additional 800,000 people employed during this time are untrained to catch pro shoplifters.
• A typical ecommerce business will see a 25% rise in revenue
Source: LiveChatInc
In comparison, e-retail stores are safer options to sell merchandise and create more demand
• Shoplifting is a major menace for retail business
• Most of the Shoplifters are trained and use sophisticated methods
• A Strong surveillance system and trained employees can curb it.
• There are limitations as during festive season, when sale volume are high, the existing system is rendered insufficient.
• The best approach to move away from shoplifting is to focus more on retail online sales rather than physical stores.
Conclusion
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Information and statistics provided by the National Association for Shoplifting Prevention (NASP) a nonprofit organization that shapes, promotes and supports comprehensive community action in shoplifting prevention efforts…because shoplifting steals from all of us. Contact NASP at 800-848-9595 or visit www.shopliftingprevention.org.
Reference
Thank You