Well, it’s tough out there, but high theft in dairy products? Cheese could be expensive ya know, why don’t they just wait for sales or watch Extreme Couponing and learn how to get products free, the legal way. Don’t go stealing those dairy products!!
Jean Valjean might have gone after a loaf of bread, but research reveals cheese is actually the food that’s most likely to disappear from grocery stores due to theft.
Worldwide, the dairy product has a 3.09% shrinkage rate, besting fresh meat (2.79%), and chocolate and confectionery candy (2.78%) globally, according to the U.K.-based Centre for Retail Research. The shrinkage rate measures the amount of products received that go missing from store inventories due to theft or errors.
Chocolate and confectionery candy, however, were more in demand in North America, with a shrinkage rate of 3.60%. In North America, cheese is actually much less in demand when compared with other parts of the world. Its 2.76% North American shrinkage rate also lags behind infant formula, luxury cooked meats and alcohol.
The data are part of a larger survey by the U.K. retail and consultancy organization that has found retail shrinkage rates are on the rise. So far, retailers have lost $119 billion to theft in 2011, up 6.6% since last year.
Additionally, the cost of retail crime plus loss prevention was $128 billion in 2011, equivalent to $199.89 per family or $66.27 per individual.
According to the survey’s findings, dishonest employees cause $41.7 billion or 35% of losses. Customer theft, including shoplifting and organized retail crime, cost retailers $51.5 billion in 2011 (43.2% of total shrinkage), compared with $45.4 billion last year. Post continues below.