Fashion is one of the categories most at risk from shoplifting and fraud this Christmas, with retailers expected to lose billions over the season.
A Centre for Retail Research report has warned that shoplifting and fraud are expected to cost retailers globally more than $16.3 billion over the Christmas holiday season.
The research is supported by the Global Retail Theft Barometer study, which found that the rate of shrinkage is increasing across the world, including Australia.
In 2011, the Global Retail Theft Barometer study revealed shrinkage in Australia had experienced its most significant increase in three years, with a 2.9 per cent increase over 2010-11, translating into $1.94 billion for local retailers.
Internal employee theft remains the biggest cause of loss (40.5 per cent), continuing to outweigh that of shoplifters (37.3 per cent).
The 'Shoplifting for Christmas 2012' report also indicated the product categories most likely to be stolen this year include women's clothing and fashion accessories, perfume, health and beauty gift packs, and watches and jewellery.
Other items at risk include alcohol, toys, electronic devices, toiletries for men, chocolates and confectionery, food and Christmas decorations, electrical goods, and DVD gift sets and game consoles.
Commenting on the findings, Centre for Retail Research director and author of the report, professor Joshua Bamfield said that shoplifting, dishonest employees and vendor or distribution losses, were the main culprits of Christmas losses.
“The Christmas season is an especially attractive time for criminals, [because] thieves take advantage of busy stores to steal high-value, high-demand goods” he said.
“As a result, retailers face a big threat from professional and semi-professional thieves, many of whom steal goods with the intention of re-selling them. Organised retail crime is also a major concern for retailers – especially since the average amount stolen per incident is much higher than 'normal' thefts.”
Source: 'Shoplifting for Christmas 2012' report by the Centre for Retail Research. The Christmas period, i.e. the holiday season considered, covers six weeks between mid November and the end of December.