The preventative methods are dependant on the type merchandise involved. Many would expect jewelry or electronics. But, the highest reported shrink target items are:

• clothing accessories and outwear
• fresh meat and cheese
• shaving products and perfumes
• do-it-yourself type products 

The effect of this theft affects everyone around the world. Globally, it cost nearly $200 per family in 2011. The shrink rate has increased over last year by 6.6%.

Theft is a dynamic crime. The thieves, customers or employees, are always adapting to those prevention measures we take to secure out assets. This requires us to review the trends seen to develop new methods of shrink deterrence. Ensuring a regular inventory control program and loss prevention vigilance is helpful in many instances. Electronic article surveillance (EAS), radio frequency identification technology (RFID), video surveillance, point-of-sales (POS) monitoring, and other technology devices are the other tools that will benefit the shrink reduction program. 

Products are not the only losses. The equipment used in retail operations are also pilfered. Tape guns, box knives, staplers,

Organized Retail Crime (ORC), is a growing threat. It's not just bootleg music or movies, or knock-off athletic shoes and clothing. There are people who steal merchandise in bulk, through group thefts, such as flash mob thefts, also called flash robs; or burglary or buildings.

Some of these people, if they don't have something immediately available, actually take orders and then steal the items. Many of these items may be sold at yard or garage sales in your neighborhood, or at the local swap meets. They may rent an apartment to store their illegally obtain merchandise. So, buyer beware!

The bottom line is ensuring all methods of shrink deterrence are being utilized, appropriate actions conducted and continuing review of all processes.

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Another form of theft from retail businesses is the fraudulent injury accident claim. Some people make this their livelihood.  




* Based on information provided by Global Retail Theft Barometer Summary 2011.