Cosmetics a popular choice with shoplifters

Whether in the US, Europe, or Hong Kong, it seems that thieves remain loyal to a list of favoured products.

Razor theft slashes bottom line​

Shaving products and razor blades top the list of stolen products, along with cosmetics, face creams and perfumes. Alcohol, DVDs and CDs are also listed as vulnerable merchandise, by the survey.

The cost of stock lost in 2008, and attempts at loss prevention, was estimated to be $112.78bn (€84.63bn), and the survey suggested this figure will rise if the current gloomy economic climate continues.

“People are used to a certain ‘lifestyle’ and will try to maintain it even if they lose their job or find themselves with a lower paying job due to the recession,”​ said Per Levin, CEO of Checkpoint Systems.

North America is the worst hit by retail crime according to the survey, with shrink (stock loss from crime and waste calculated as a percentage of sales) standing at 1.48 per cent, totalling $42.34bn.

Checkpoint Systems, itself a supplier of retail shrink management systems, is quick to point out that the costs of this retail loss is not borne by the retailer alone.

Not only is shrink a serious threat to retailers bottom lines, said the CEO of Checkpoint Systems Rob van der Merwe, it represents a ‘hidden tax’ on consumers who are already dealing with lower household budgets.

Significant room for improvement​

The study also concludes that there is significant room for improvement, as many retailers do not protect even the most vulnerable of merchandise.

“Another interesting fact revealed in the survery is that retailers on everage provided no specific protection for almost one third (30.3 per cent) of their top fifty most stolen product lines,”​ said van der Merwe.

“This represents an immediate opportunity for improvement. As the recession increases pressure on shrink, we are partnering with retailers to help solve their biggest challenges,”​ he added.