Global Theft Costs $104 Billion Annually

The level of global retail theft reached $104.5 billion in the past year, leading to increased costs for both retailers and consumers alike, according to the second annual “Global Retail Theft Barometer.” It found that while global retail shrink as a percentage of total sales has declined slightly in the past 12 months, the overall cost of retail crime has increased substantially.

"The cost of retail shrink is not just borne by retailers, but by consumers and society at large," said Rob van der Merwe, President and CEO of Checkpoint Systems, Inc. "Shrink is a serious threat to retailers' bottom lines, and amounts to a hidden 'tax' on consumers who are already dealing with strain of their tightening household budgets during the economic downturn," he said.

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