InVue Security

US Retailers Lost More than $34 Billion to Theft in 2011

Retail theft saw a slight decrease in 2011. However, the problem is still a big one. Shrinkage accounted for $34.5 billion in losses, which is 1.41% of retail sales, this number is down from 1.49% ($37.1 billion) in 2010.

According to the preliminary survey findings, the majority of retail shrinkage last year was due to employee theft, accounting for 43.9 percent of total losses. Shoplifting accounted for approximately 35.7 percent of total losses, up from 32 percent last year. Other losses included administrative error (12.1% of shrinkage) and vendor fraud (5.0% of shrinkage). Retailers said that the cause of the remaining shrinkage was unknown.