Aftermath of Katrina Expected to Increase Shoplifting

Share Article

Higher gas prices fuel retail losses.

Terre Haute, IN (PRWEB) September 15, 2005 – According to Sensortags.com, as fuel prices and food prices soar from the aftermath of Katrina, so will the shoplifting statistics. Shoplifting has historically been higher during periods of inflation, natural disasters and during holidays. Money will be tight as gas prices soar, those with a fixed paycheck will feel the crunch. Many major retailers may see their customers turn to "off- price" or second hand stores to meet their families needs.

U.S. Retailers lost $31 Billion to theft according to the 2002 Retail Security Survey by University of Florida criminologist Richard C. Hollinger, Ph. D., which analyzed theft incidents from 118 of the largest U.S. retail chains. A combination of employee theft, shoplifting, vendor fraud and administrative error costs United States retailers over $31 billion last year.

Shoplifting was on the rise last year with 31.7 percent of retail losses resulting from shoplifting, compared to 30.6 percent two years ago. Inventory shrinkage remains the single largest category of larceny in the United States, more than motor vehicle theft, bank robbery and household burglary combined. Retail theft impacts everyone. Ultimately it's consumers that are hurt the most in the form of higher prices.

Mary Fouts, CEO of Sensortags.com said. "There are a number of very simple yet very effective Measures that retailers can do to reduce the risk of shoplifting from their stores."

1. Greet and attend to customers. A customer who is well attended to knows you are vigilant and has less of an opportunity to shoplift.

2. Get a stop shoplifting security tower and tags. Most of shoplifters will steal because they think no one is looking and they can easily get away with it. Security system prices range from $7000.00 at sensormatic.com, $4000.00 from checkpointsystems.com and $1499.00 for a Vector single pillar with new digital technology from http://www.sensortags.com

3. Have signage to indicate you prosecute shoplifters in your store. Best place to post this is in the dressing rooms and in the back corners of the store.

For ten years, Security Outlet has been providing inexpensive options to help smaller retailers stop shoplifting. With new digital technologies and refurbished name brand equipment, most store owners can find price range that will fit their budget and will pay for itself in 3 months-1 year.

Mary Fouts is an industry expert and advises retailers nationwide about the risks of shoplifting.

For media inquiries please call 800-934-7080, or visit our Web site at http://www.sensortags.com.

# # #

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Mary Fouts
Visit website