New research into global retail crime and loss prevention trends has revealed some surprising results for the Asia-Pacific region.
The study, 'Changing Retail, Changing Loss Prevention', analyses the evolution of retail crime and loss prevention uncovered by the 'Global Retail Theft Barometer' publications since 2001.
According to recent figures, more than 78 per cent of shrink in Australia is due to shoplifting by dishonest customers or retail employees with the number of retail thieves apprehended annually remaining at roughly six million.
Specifically, the study revealed that employees were responsible for 40.5 per cent of retail shrinkage, followed by shoplifters (at 37.3 per cent), internal error (16.8 per cent), and suppliers and vendors (5.4 per cent).
Online retailing and new payment systems such as smart-phones have also brought new risks to the industry, with the report indicating that the length and depth of the global recession has also resulted in a growth of shrink since 2007.
However, interestingly, many Asia Pacific countries have shown less increases in shrinkage overall.
Experts have attributed this to the region's healthier economies, which bounced back and continued to grow after 2008.
Most recently, in Asia-Pacific, accessories were rated as the most 'high risk' products for theft (at 1.74 per cent), followed by fashion and tailored clothing (1.72 per cent), childrenswear (1.49 per cent), underwear and lingerie (1.41 per cent), and trousers and skirts (1.28 per cent).
Tops and sweaters (1.20 per cent) and footwear (0.70 per cent) were the products least likely to be stolen from retailers in the Asia-Pacific region.
Research for the 'Changing Retail, Changing Loss Prevention' report was conducted by the Centre for Retail Research in Nottingham and supported by Checkpoint Systems.