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Shoplifting and fraud to cost £1bn this Christmas

Shoplifting and fraud is expected to cost retailers around £1bn this Christmas.

A report, carried out by the Centre for Retail Research and retail security specialists Checkpoint Systems, estimates that retailers could lose £522 million through shoplifting, £431 million through employee theft, and £47 million through vendor and distribution losses.

Women’s clothing and fashion accessories are among those product categories most at risk.

In total losses could represent a 3.4% per cent increase over the same period last year.

“The Christmas season is an especially attractive time for criminals,” said Joshua Bamfield, director of the Centre for Retail Research.

“Thieves take advantage of busy stores to steal high-value, high-demand goods. As a result, retailers face a big threat from professional and semi-professional thieves, many of whom steal goods with the intention of re-selling them.”

 

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