Survey says: Shoplifting on the rise
BOCA RATON, Fla.--As the holiday shopping season wraps up, retailers are still concerned about shoplifting and employee theft, according to a University of Florida retail study conducted in December, thanks to a grant from ADT Security Services.
The study said retailers' concerns are justified by evidence of losses from shoplifting. The report found that employee theft has dipped, but it is still one of the largest sources of inventory shrinkage.
This year's study noted an increase in shoplifting, which accounted for 34 percent of retail losses, up from 30.8 percent in 2000. U.S. retailers lost $10.5 billion in potential sales to shoplifting.
As the retail industry grows, dollars lost to inventory shrinkage have increased, now costing the industry more than $30 billion annually, said University of Florida criminologist Richard Hollinger, Ph.D., who directed the National Retail Security Survey.
The survey also concludes that retailers are spending more to battle retail theft.
Rex Gillette, vice president of retail national accounts for ADT, said many retailers are switching to digital video systems because the systems provide higher quality pictures and can be accessed remotely.