Theft cost British shops £1.57billion each year
Posted on in Business News
Shops lose a total of £1.57 billion each year to theft, according to the latest Global Retail Theft Barometer.
Britain's shops lose £800 million a year as a result of shoplifting, a report has found. Whilst employees steal a further £770 million of goods, meaning shops lose a total of £1.57 billion each year to theft.
Retailers are being warned that over the next few weeks there could be a sharp rise in thefts as key winter sales periods are targeted.
Small items and those with a high resale value are the most likely to be stolen.
According to official police data, there were more than 329,000 recorded incidents of shoplifting across the UK last year. This represent a 3% rise on 2013 and around 27,000 more than in 2012.
In terms of the total value of goods lost, the UK ranked sixth highest globally, behind the US, China, Germany, Russia and Japan.
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