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Shoplifting costs shops £400,000 per day

With two thefts in shops every minute, British retail entrepreneurs should be worried.

Despite the total number of thefts per 100 stores actually falling by 11 per cent year-on-year, the total cost to retailers has spiralled upwards.

Research by the British Retail Consortium finds that the total cost of high street shoplifting has risen to a huge £137m per year, up from £99m the previous year.

The value of individual items taken by shoplifters has also risen, to an average of £70 from £45.

This is despite retailers spending over £210m protecting their staff, stock and premises, a ten per cent increase on the previous year.

The British Retail Consortium’s research also highlights that some 18,000 staff have been victims of physical or verbal abuse during work – worrying numbers.

Theft by employees was the only area to see a rise in incidents, and although this accounts for just five per cent of total thefts, this is a 68 per cent increase on last year’s numbers.

When combining shoplifting, staff theft and the amount retailers are spending on crime prevention with retail fraud and burglary, retailers are faced with a total retail crime bill of £1.1bn.

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