Retail Theft Lowest in 17 years

For the sixth consecuetive year, retail theft is down. Retail theft is a term for a multitude of crimes that lead to profit loss of retailers. Retail theft could be shoplifting, calculation errors, employees stealing, and vendor deception or fraud. Every year, UofF conducts this survey.

Phil Browne, National Retail Manager of ADT australia, was quoted as saying “This downward trend is likely a result of retailers investing in anti-shoplifting and anti-theft technologies.” and “the result of bettery anti-theft training”.

The survey showed that while theft was at its lowest in 17 years, retailers are spending more money on security technology. On the top of the list, is internet monitored CCTV cameras to allow management to be able to monitor employees in real time, remotely.

Though the theft rate was at its lowest point in 17 years on average, one section that did show growth was that of organized crime. Because of the organized, covert nature it is thought that this type of crime may have been on the rise, but may have gone undetected before the better surveilance.