Survey: Retail losses are up - Baltimore Business Journal:

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billion in 2007 to $36.5 billioj in 2008, according to a survey by and the University of Retail shrinkageaveraged 1.52 percent of retail salesd in 2008, up from 1.44 percent a year “The increase in shrink levels signifie s that criminals have found a way to manipulate and corrup the retail industry,” said Richard Hollinger, lead author of the report and professor of criminologyg at the University of Florida. “Many retailersz are being forced to decrease their current expenditurezs because of the state of the economyh and the cut back inconsumer spending, whichy leaves new opportunities for thieves to take advantag e of companies.
” Most 2008 retail shrinkage was because of employee which totaled $15.9 billion, or almost half of lossexs (44 percent). Shoplifting accounted for $12.7 billiohn (35 percent) of Other losses included administrativeerror ($5.43 billion and 15 percent of and vendor fraud ($1.3 billion and 4 percent of shrinkage).