shoplifting this holiday season

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SHOPLIFTING This Holiday Season

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Page 1: Shoplifting This Holiday Season

SHOPLIFTINGThis Holiday Season

Page 2: Shoplifting This 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

Page 3: Shoplifting This Holiday Season

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.

Page 4: Shoplifting This Holiday Season

Where Is The Global Retail Theft?

$214 Billion

Globally

N. America34%

LATAM6%

Europe32%

APAC28%

Page 5: Shoplifting This Holiday Season

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

Page 6: Shoplifting This Holiday Season

The Highest Loss by Country

$36.79B $26.06B $14.90B

1st

USA2nd

China3rd

Japan

Source: The Global Retail Theft Barometer Report 2015

Page 7: Shoplifting This Holiday Season

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

Page 8: Shoplifting This Holiday Season

Shrinkage Costs

$123.4 BillionUS

To Retailers Globally1.23%

Of retail

sales

Source: The Global Retail Theft Barometer Report 2015

Page 9: Shoplifting This Holiday Season

46% of Loss Happens In Winter

Which Season Is The Maximum Retail Loss?

Source: The Global Retail Theft Barometer Report 2015

Page 10: Shoplifting This Holiday Season

Products easy to conceal, with wide public appeal & ready market for resale

The Most Stolen Merchandise

Source: The Global Retail Theft Barometer Report 2015

Page 11: Shoplifting This Holiday Season

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

Page 12: Shoplifting This Holiday Season

Average Cost of Retail Crime Per Household

335$US

252

2.59

$HK

Source: The Global Retail Theft Barometer Report 2015

Page 13: Shoplifting This Holiday Season

1/3 of Businesses fail due to Shoplifting

Source: http://rentonwa.gov/

Page 14: Shoplifting This Holiday Season

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

Page 15: Shoplifting This Holiday Season

75% of Shoplifters are Adults

25% of Shoplifters are Kids 55% of Shoplifters have been doing it since teenage

Source: NASP

Page 16: Shoplifting This Holiday Season

3% are Professional Shoplifters and Habitual Shoplifters steal an average of 1.6 times per week

Source: NASP

Page 17: Shoplifting This Holiday Season

KEY LOSSPREVENTIONBEST PRACTICES 5

SecurityProtected

Source: The Global Retail Theft Barometer Report 2015

Page 18: Shoplifting This Holiday Season

Leveraging Internal DataTo better understand shrink performance metrics at SKU, category & store levels

Source: The Global Retail Theft Barometer Report 2015

Page 19: Shoplifting This Holiday Season

Using A Mix Of Loss Prevention SolutionsEASFixturesManual screeningEmployee training

To Prevent External Theft

Source: The Global Retail Theft Barometer Report 2015

Page 20: Shoplifting This Holiday Season

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

Page 21: Shoplifting This Holiday Season

Using Source-TaggingSecurity

ProtectedReduces store labor and ensures tagging compliance

Source: The Global Retail Theft Barometer Report 2015

Page 22: Shoplifting This Holiday Season

Conducting Pre-Employment

Background screenings of potential employees to decrease dishonest employee theft

Page 23: Shoplifting This Holiday Season

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

Page 24: Shoplifting This Holiday Season

Online RetailThe Way Forward

www.Shoppingonline.com

Page 25: Shoplifting This Holiday Season

Shoplifting exclusively happens at Brick & Motor stores

How Does It Help Move Away From Shoplifting

Page 26: Shoplifting This Holiday Season

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

Page 27: Shoplifting This Holiday Season

• 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

Page 28: Shoplifting This Holiday Season

In comparison, e-retail stores are safer options to sell merchandise and create more demand

Page 29: Shoplifting This Holiday Season

• 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

Page 30: Shoplifting This Holiday Season

SUBSCRIBE TO GET FREE RETAIL INSIGHTS IN YOUR INBOX

Page 31: Shoplifting This Holiday Season

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

Page 32: Shoplifting This Holiday Season

Thank You