Retail crime up drains UK of $900 million
MOSCOW, January 20 (RAPSI) – Retail crime has grown 18 percent on the year in Britain in the 2013-2014 fiscal year, which ended in April, and reached £603 million (nearly $909 million), Interfax reports on Tuesday citing the British Retail Consortium’s (BRC) annual crime survey.
The survey shows that shoplifting, cybercrime and fraud committed online have grown enormously since BRC’s first survey in 2004.
The BRC survey for 2014 highlights retailers’ concern over the increase in crimes committed by organized groups. They attribute 40 percent of retail crimes to gangs, often working together in groups.
Shoplifting accounts for 81 percent of retail crime by volume, and the average value of goods stolen increased from £177 to £241 (about $366).
The most frequently targeted products were brand name electronics, clothing, power tools, alcohol and cosmetics.