Global retail theft totalled SGD140 billion (US$107.3 billion) in 2010, representing a 5.6-percent decrease from the prior year (6.5 percent in Asia-Pacific), according to the fourth annual edition of the Global Retail Theft Barometer.
The study, sponsored by an independent grant from Checkpoint Systems, monitored the costs of shrinkage (loss from shoplifting/employee crimes and administrative errors) in the global retail industry between July 2009 and June 2010, and found that shrinkage decreased in all regions surveyed. The biggest decrease was in North America. The proportion of global retailers that reported increased actual or attempted shoplifting in 2010 was 31.1 percent (23.1 percent in Asia-Pacific).
"Even with the shrinkage decrease, retail crime cost the average family in the 42 countries and regions surveyed an extra SGD242 (USD186) on their shopping bill," said Professor Joshua Bamfield, Director of the Centre for Retail Research and author of the study. "In Singapore the number was SGD224 (USD172), the third highest in Asia-Pacific and the amount is >30 percent higher than the Asia-Pacific average of SGD152 (US percent 117)."
To read the 2010 highlights, visit GRTB’s website.