According to the latest edition of the “Global Retail Theft Barometer” report, 2010 saw a 6.8 percent decrease in retail shrinkage in the United States. Shrinkage, or inventory losses due to shoplifting, employee theft, paperwork errors and supplier fraud among others amounted to $39.3 billion in 2010. The decrease in losses was accompanied by a 9.7 percent increase in spending on loss prevention globally, though author Professor Joshua Bamfield of the Centre for Retail Research notes that trends continue to center around significantly reduced budgets. The report surveyed 1,103 retail companies across 42 countries and was sponsored by Checkpoint Systems Inc., Thorofare, N.J.
“We did see an increase in loss prevention spending on equipment this year,” Bamfield says. “It made up 31 percent of total loss prevention spending in North America. It is getting through. The question now is how do you use it and where do you place it?”