Retail shrinkage cost £2.6 billion this year
Compared to last year, shoplifters and mischief-makers have cut retailers some slack this year.
According to The Retail Fraud Survey 2013/14, published by retail consultancy Retail Knowledge Ltd and sponsored by payment experts Kount and Volumatic, retail shrinkage rate in UK went slightly down.
The survey says that a slight reduction was observed in shrinkage this year- from 1.0% last year to 0.9% of sales. This still corresponds to a massive loss to the industry – an estimated £2.6 billion.