According to the National Association for Shoplifting Prevention, inventory shrinkage – a combination of employee theft, shoplifting, vendor fraud and administrative error – costs United States retailers over $31 billion every year. This has emerged from the latest National Retail Security Survey report on retail theft, which analysed theft incidents from 118 of the largest U.S. retail chains.
|Source of Inventory Shrinkage||% of Loss*||$ Lost|
|Employee Theft||48.5%||$15.1 billion|
|Administrative Error||15.3%||$4.8 billion|
|Vendor Fraud||5.4%||$1.7 billion|
|Total Inventory Shrinkage||$31.3 billion|
You can easily eradicate this problem by adopting Tag-N-Trace solutions.