Jun 10, 2010

Retailers see slight containment of organized theftBy Nivedita BhattacharjeeReuters.com

Fewer U.S. retailers have had merchandise stolen by organized crime rings in the past 12 months, as they invest more money in prevention, a leading trade group said on Thursday.

A survey by the National Retail Federation found that 89.5 percent of retailers surveyed were victims of organized theft, down from 92.2 percent last year. About 59 percent said they had seen an increase in theft activity in the last year, while 73 percent had reported a rise a year ago in the midst of the U.S. economic downturn.

Nearly half of the retailers surveyed said they were spending more money on awareness and prevention efforts, up from 41.8 percent a year ago.

Organized retail theft can mean the loss of thousands of dollars worth of clothing, gift cards, electronic goods and other popular products from stores. The thieves’ methods range from sophisticated UPC code-swapping to blatantly grabbing the merchandise and running.

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