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: Kiosk Industry

Kiosk manufacturer experience since 1993. Engineer for Verizon Bill Pay kiosks while at KIS in Colorado. Extensive device knowledge for printers, scanners, currency, PCI, ADA, touch screen technology, outdoor, biometrics such as fingerprint and IRIS. Runs and manages the current kiosk association, KMA. Works with U.S. Access Board on ADA and accessibility. PCI SSC participating organization. Member of National Retail Federation (NRF) and National Restaurant Association.