Dave chats with Mark Gentle from the Profit Protection Future Forum and Checkpoint after a major study of over 9,000 stores with an annual turnover of approximately AUD$95 billion, revealed fresh insights into Australian retail crime.
The Australia and New Zealand Retail Crime Survey revealed:The total cost of retail crime to the industry is $3.37 billion in 2017-2018
Shoplifiting and customer theft account for the majority of retail crime recorded (55 per cent).
Telecommunication stores suffer the highest average value of theft – estimated to be ‘more than $1000’ per incident.
Baby milk formula, meat and face creams are most commonly stolen from supermarkets.
Supermarkets typically report losses of ‘under $20’ per-incident but occurring more frequently.
self-service checkouts continue to be vulnerable to theft. Retailers are responding by introducing more POS video analytics including cameras that film customers at each individual machine.
Criminals are becoming more organised. There is a large resale market for goods including stolen food and champagne being sold to restaurants, and baby formula being sold to China as part of the ‘daigou’ phenomenon
Micro-gangs are using ‘steaming’ techniques to brazenly raid shops during operating hours.