Retail Employee Theft Jeopardy

Ready for a little game of Retail Employee Theft Jeopardy?  You know how the game works: We give the answers and you respond in the form of a question.  Some of these answers were provided by the preliminary findings of the 2010 NRSS, an annual retail security survey and other sources.

And remember, you must respond in the form of a question.

Let’s begin. I’ll take Retail Theft for a hundred, Alex.

Answer:  16.2 Billion dollars.

Question:  How much did employee theft contribute to the retail theft nation wide in 2010?

Answer: Percentage of retailers that indicated their loss prevention budgets were increasing or staying the same.

Question:  What is 81%?  (46% increasing, 35% staying the same.)

Answer: Grocery stores, furniture stores, and specialty accessories stores.

Question:  What categories of retailers exhibited higher that average shrink?  (The difference between book inventory and physical inventory at a particular time.)

Answer:  Sweethearting.

Question:  What is the term used to describe internal theft involving an employee and a non-employee?

Answer: 18.7 percent.

Question:  What percentage did employers report that collusion between employees and outside sources contribute to the total employee theft figure.

Answer:  The retail category that reported an almost twofold increase in shrink.

Question: What are drug and pharmacy stores.

Answer:  4 Billion Dollars or 10.7%.

Question:  How much did retail theft increase in 2010 over the previous year?

Answer:  Employee theft, shoplifting, administrative error, and vendor fraud.

Question:  In order of severity, what categories comprise retail theft?

And now for the Final Jeopardy answer:

$37.14 Billion, or 1.58% of total retail industry sales.

Question:  What was the cost of shrinkage to retailers in 2010.

So how did you do?

Retailers know that the real jeopardy is allowing retail theft, particularly internal theft to erode profits and cause many other related problems.

Employee theft is a situation that can be controlled through implementation of a solid prevention plan, segregation of duties, and adequate supervision.

For more information on employee theft , or  internal theft contact us or call 1.770.426.0547 – Atlanta Georgia