Retail Systems – One-Two Punch Of Shoplifting & Fraud Costs Retailers $44B

By | July 3, 2015

Retailers got hurt from two directions last year: When they weren’t getting straight-up robbed, they were being defrauded from within. And it all contributed to industry losses totaling $44 billion for the year.

Source: www.pymnts.com

Employee/internal theft contributed to 34.5 percent of shrink, followed by administrative and paperwork errors at 16.5 percent, then vendor fraud or error at 6.8 percent. Bringing up the rear in the categories contributing to retail shrink in 2104 was unknown loss at 6.1 percent.

Author: Staff Writer

Craig Keefner is the editor and author for most Kiosk Association and kiosk industry. With over 25 years in the kiosk industry and experience in large and small kiosk solutions, Craig is widely considered to be an expert in the field. Major kiosk projects for him include Verizon Bill Pay kiosk and hundreds of others.