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Article: Thief TV: digital cameras show clearer picture of multibillion-dollar shoplifting industry.(Business & Personal Security)
- Article from:
- Westchester County Business Journal
- Article date:
- January 16, 2006
- Author:
CopyrightCOPYRIGHT 2006 Westfair Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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When people think of shoplifting, they often think of little things like Advil and makeup to CDs and DVDs. While consumers may think of these items as "small," the sum of money lost to shoplifting each year is actually quite large.
In 2004, retailers lost between $10 billion and $13 billion in revenue from up 440 million shoplifting incidents, according to Jack L. Hayes International Inc.'s 17th Annual Retail Theft Survey. The 18th Annual Retail Theft Survey isn't expected until midyear.
The survey also reported that, on average, retailers lose an estimated $19,000 to $25,300 a minute due to shoplifting.
Shoplifting has become such a prevalent ...