
October 2, 2007
More than 530,000 shoplifters and dishonest employees were apprehended and more than $116 million recovered from those thieves by just 23 major retailers in 2006, according to the 19th Annual Retail Theft Survey conducted by Jack L. Hayes International, a loss prevention and inventory shrinkage control consulting firm. Shoplifters and dishonest employees stole over $6.0 billion in 2006 from these 23 major retailers.
“This is only the second time in the past 9 years where both the apprehensions and recovery dollars from shoplifters and dishonest employees has increased. Shoplifting apprehensions and recovery dollars were up an amazing 11.2 percent and 13.9 percent respectively”, said Mark R. Doyle, president of Jack L. Hayes International. “And while employee theft apprehensions were up just under 7 percent, the recovery dollars were up over 16 percent.
“The seriousness of retail theft is a much greater problem than many people realize. The theft losses experienced by retailers is driving consumer prices higher, hurting our economy, and even forcing some retailers to close stores or go out of business.”
The annual survey reports on over 530,000 apprehensions taking place in just 23 large retail companies representing 14,118 stores with combined 2006 annual sales in excess of $537 billion.
Survey highlights include:
The number of choices, vendors, and types of solutions is exploding. Large numbers of alternatives are normally an advantage to the buyer, but it can add much confusion when trying to make the right choice.
Business is all about managing risk, and risk management comes down to making solid business decisions to avoid and mitigate potential threats, including natural disasters.