Another Successful Event – Retail Theft & the Global Retail Theft Barometer

This week another successful event was conducted by the Chapter at the University of Melbourne’s Law Building. Entitled “Retail Loss Prevention and the Global Retail Theft Barometer” the event was attended by 55 members and guests.

Mr Nick Trudgett, GM of Checkpoint Systems (Aust/NZ) Pty Ltd provided a most informative session based upon research evidence through the Global Retail Theft Barometer.  The research resulted in a greater understanding of trends in shrinkage and loss prevention during 2014/15.

Amongst other things, the global research disclosed:

• Interesting variations between global and Australian trends where cause of loss globally was internal (39%) and yet in Australia 25%;
• Dishonest employee theft (39%) and shoplifting (38%) were the major causes of shrinkage globally;
• Cost of retail crime per household in Australia is $547; and
• Meat and beauty products were prominent in retail theft incidents.

Loss prevention solutions need to be situationally addressed.  However, it was noted that product-level prevention solutions used by retailers were EAS (73%), Spider Wraps (44%), Advanced Inventory Control Tactics (27%), Shelving Solutions and Delayed Fixtures (27%), RFID (15%) and EAS Pedestal Analytic Data Tools (11%).

To participate in the Global Retail Theft Barometer in 2016 you can register at – www.GlobalRetailTheftBarometer.com

The Chapter is most appreciative of the support from Mr Nick Trudgett and Checkpoint Systems (Aust/NZ) Pty Ltd.