This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Shoplifting And Fraud To Cost American Retailers $8.9 Billion Over Christmas Holiday Season

Retailers in the U.S. are expected to lose $8.9 billion over the holiday season (mid-November through Christmas) as a result of shoplifting, dishonest employees and vendor or distribution losses, according to a new study released today by the Centre for Retail Research. The report, funded by an independent grant from Checkpoint Systems, suggests that the losses incurred by the retail industry over this period could add an extra $98 to each family’s shopping bill.

The report found that American retailers could lose $3.8 billion through shoplifting, $4.7 billion through employee theft, and $400 million through vendor and distribution losses.

Losses up 4 Percent From 2011

In total, the losses could represent a four percent increase over the same period last year. The primary contributors to retail crime are employee theft (53 percent) and shoplifting (42 percent).

Speaking about the results, Professor Joshua Bamfield, director of the Centre for Retail Research and author of the report, said: “The Christmas season is an especially attractive time for criminals. 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. Organized retail crime is a major concern for retailers – especially since the average amount stolen per incident is much higher than ``normal´´ thefts.”

10 Most Stolen Categories of Goods This Season

The 'Shoplifting for Christmas 2012' report also revealed the product categories most likely to be stolen over the Christmas period, which include 1) alcohol, 2) women's clothing and fashion accessories, 3) toys, 4) perfume and health & beauty gift packs, 5) electronic devices such as smartphones and tablet computers, toiletries for men, 6) DVD gift sets and game consoles, 7) food and Christmas decorations, 8) electrical goods including hardware/DIY, 9) watches and jewelry, and 10) chocolates and confectionery.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs