Shrink, comprised of shoplifting, employee or supplier fraud, and administrative errors, rose in the U.S. from 1.28 percent of sales in 2013-2014 to 1.97 percent during 2014-2015, based upon responses from common retail respondents who participated in Global Retail Theft Barometer surveys both years. Globally, this compares to 1.42 percent, a figure also up from the previous .94 percent average of all common retailers surveyed the previous year.
The number of retail thieves apprehended annually continues to be about six million, research indicates, but the picture is much worse than that figure suggests. More than 78 percent of shrink is due to shoplifting by customers or retail employees. New products in fast-paced categories such as electronics, perfumes and sportswear being brought to market every year at premium prices are among the most likely to be stolen. Fresh meat remains a high-theft category for supermarkets and hypermarkets.
Checkpoint Systems Inc., a global supplier of electronic article surveillance solutions, merchandise visibility and apparel labeling solutions for the retail industry and its supply chain, has been chosen by Tesco to implement a global EAS program to improve on-shelf availability of products.