According to Joshua Bamfield, author of the 2010 Global Retail Theft Barometer report from the U.K.-based Center for Retail Research, U.S. retailers lost about $40 billion in stolen goods in 2010. Â This is about 1.5% of the nationâ€™s sales. Even though this sounds really bad, the losses are down by 6.8% from the prior year. Still, losses passed onto consumers added about $423 to the average American family’s shopping bill this year.
1.Â What are the most stolen goods?Â Explain why you think these are targeted.
2.Â Why do you think that employee thefts are greater than shoplifting thefts in the U.S.?
3.Â According to the video, while employers have increased their prevention efforts by 12%, why doesnâ€™t that result in a 12% reduction in losses?
4. What roles do accountants play in the prevention of retail theft? Explain.
Video. (2010) U.S. Families Lose $400 to Theft, October 19.
Kavilanz, Â Parija, (2010). Thieves Will Cost You $423 At The Mall This Year. CNNMoney.com, October 19. (Retrievable online at http://money.cnn.com/2010/10/18/news/economy/store_theft_drain_on_your_wallet/index.htm)