A recent report from the BRC (British Retail Consortium) found that the cost of retail crime has continued to rise significantly, with the overall cost in 2012 totalling £1.6 billion.
What is particularly worrying about this increase is that e-crime is costing retailers the most, as it now accounts for 37% of all retail crime totaling almost £600 million. Although it was not made clear what their definition of e-crime consists of. Part of Clear Returns’ own research involved identifying issues of fraud such as wear and return. As the online shopping channel grows, Drapers announced last week that online sales in 2013 are expected to reach £87 billion, this type of fraudulent behaviour could increase in frequency.
Retailers are increasingly being pressured to enhance their multi-channel strategy in order to survive and compete successfully, therefore security measures and protection must now become one of retailers top priorities in light of this new information. Perhaps we will see more companies investing in technology such as the Clear Returns system to help effectively manage this problem throughout 2013.