business news in context, analysis with attitude

Here’s an alarming statistic, compliments of Stores magazine:

“Retail employees out-steal shoppers in North America, where total shrinkage amounted to $45.3 billion in 2011, according to the Global Retail Theft Barometer generated by the Centre for Retail Researching in Nottingham, England.

“Employee theft accounts for 44.1 percent of retail shrink in North America, while customer theft — including shoplifting and organized retail crime — is responsible for 43.2 percent, says Dr. Joshua Bamfield, director of CRR and author of the study. The total cost of theft amounts to 1.45 percent of sales, according to Bamfield.”
KC's View:

I continue to believe that stores are only as good as the people on the front lines, but I suspect that stats like these don’t make it easy to empower the front lines.