India Ranks No: 1 in Shoplifting

By siliconindia   |   Wednesday, 16 November 2011, 02:44 IST   |    10 Comments
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shoplifting
Russia: The global retail barometer has ranked Russia at second place in shoplifting after India. The shrinkage rate is of 1.74 percent in the retail market. The rate has increased by 0.13 percent this year compared to previous year. This has increased due to the shoplifting of goods worth $4 billion. Higher employee fraud and organized retail crime has seen an increase in Russia of late. Groceries like cheese, fresh meat, sweets and alcohol are the popular items shoplifted by Russians. This year it has overtook morocco in shoplifting. Errors like mispricing, invoicing error and administrative failure caused them a huge loss of $19.4 billion which leads to a total shrinkage of 16.2 percent. Morocco: The country was in second spot previous year, but the shrinkage rate has increased when compared to last year. It was 1.64 percent in 2010 and now it is 1.72 percent. It is Russia who brought them to the third slot. Mismanagement and dishonest employees are the main reason for increase in shoplifting. This organized retail crimes has cost the retailers about $51.5 Billion this year which has boosted up from the previous year ($45.5 billion). Every year the increase in customer theft is about 13.4 percent. South Africa: South Africans have made their space in global shoplifter ranking at fourth place. The inventory loss by the retail industry in the nation is 1.71 percent. Brazil: The fifth biggest shoplifting nation experienced shrinkage of 1.69 percent.

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