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The world's biggest shoplifters; India ranks No. 1!
The world over, shoplifters are giving the retail industry a gigantic headache. A $119-billion headache! According to the Global Retail Theft Barometer for 2011, globally shrinkage rose to $119 billion in 2011, up 6.6 per cent of total sales since the last survey in 2010.
'Shrinkage' or 'shrink' is inventory loss caused by crime or administrative error. It is measured as a percentage of retail sales value. The average shrinkage stands at 1.45 per cent of total sales in 43 countries in 2011, compared to 1.36 per cent in 2010.
Almost 35.9 per cent of retailers globally reported that actual and attempted shoplifting rose last year and 24 per cent suffered higher employee theft. The costs of retail crime-plus-loss prevention were $128 billion in 2011 equivalent to $199.89 per family. ($66.27 per individual).
After a dip in shrinkage last year (2009-10), shrinkage has risen in the 12-months ending June 2011 as a result of increased shoplifting, higher employee fraud, and organised retail crime, the Global Retail Theft Barometer for 2011 says.
So which are the nations where shoplifting is highest? Click NEXT to find out. . .
The world's biggest shoplifters; India ranks No. 1!
1. India: 2.38 per cent
This is one record India does not want to hold.
For the third consecutive year, Indians have topped the Global Retail Theft Barometer.
What this means is that shoplifting (or shrinkage, as the survey calls it) is the highest in India, and the nation's retail industry is the biggest sufferer on account of this.
As if the myriad scams and widespread corruption are not enough, Indians are now the world's most rampant shoplifters too.
However, since 2010, shoplifting has actually decreased in India. Last year, the shrinkage rate in India was 2.72 per cent of total retail sales. That figure has now dropped to 2.38 per cent.
The Global Retail Theft Barometer is brought out annually by the Centre for Retail Research, which expert research and analysis of the retail and service sectors globally.
The centre's web site says: 'Originally a university research group, it has been independent since 1997. Its director is Professor Joshua Bamfield. It is totally independent and is not connected to any outside organisation or interest group.'
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The world's biggest shoplifters; India ranks No. 1!
2. Russia: 1.74 per cent
The Russians have stolen a march over Morocco since last year. With a shrinkage rate of 1.74 per cent of total retail sales, Russians are the second biggest shoplifters in the world, says the Global Retail Theft Barometer for 2011.
Causes of shrinkage
The causes of shrinkage reflect retailer perceptions of the causes of shrinkage in their own businesses. Internal error including mispricing, invoicing errors and administrative failure cost $19.4 billion, representing 16.2 per cent of total shrinkage.
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The world's biggest shoplifters; India ranks No. 1!
3. Morocco: 1.72 per cent
In the second spot till last year, Morocco has slipped one spot to the third place in the global shoplifters' ranking.
It's not as if shoplifting has decreased in Morocco. Last year the shrinkage rate in Morocco was 1.64 per cent, which has now grown to 1.72 per cent.
Dishonest employees were thought to cause $41.7 billion (35.0 per cent of shrinkage) of losses and customer theft, including shoplifting and organised retail crime, cost retailers $51.5 billion in 2011 (43.2 per cent of total shrinkage) compared to $45.4 billion in 2010.
This was a year-on-year increase of 13.4 per cent in customer theft.
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The world's biggest shoplifters; India ranks No. 1!
4. South Africa: 1.71 per cent
The fourth highest number of shoplifters is in South Africa, according to the survey.
Its retail industry has a shrinkage rate of 1.71 per cent.
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The world's biggest shoplifters; India ranks No. 1!
5. Brazil: 1.69 per cent
Brazil is the fifth biggest shoplifting nation, according to the survey, with a shrinkage rate of 1.69 per cent.
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The world's biggest shoplifters; India ranks No. 1!
6. Mexico: 1.68 per cent
Mexico stands 6th in the list of largest shoplifters in the world. Its retail industry has a shrinkage rate of 1.68 pre cent.
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The world's biggest shoplifters; India ranks No. 1!
7. Thailand: 1.64 per cent
Thailand has the dubious record of being the seventh largest nation when it comes to shoplifting, with its retail industry suffering from a shrinkage of 1.64 per cent.
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The world's biggest shoplifters; India ranks No. 1!
8. Turkey: 1.63 per cent
Turkey's retail industry has a shrinkage rate of 1.63 per cent making the country 8th in the list of nations with most number of shoplifters.
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The world's biggest shoplifters; India ranks No. 1!
9. Malaysia: 1.62 per cent
With a shrinkage rate of 1.62 per cent, Malaysia is 9th in the list of largest shoplifters.
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The world's biggest shoplifters; India ranks No. 1!
10. The Untied States of America: 1.59 per cent
America, with a shrinkage rate of 1.59 per cent of total retail sales, is in the 10th spot in nations with the most number of shoplifters.
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The world's biggest shoplifters; India ranks No. 1!
11. Argentina: 1.55 per cent
In Argentina, the retail industry has a shrinkage rate of 1.55 per cent. It is 11th in this dubious list.
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The world's biggest shoplifters; India ranks No. 1!
12. Czech Republic: 1.53 per cent
The Czech Republic's retail industry has a shrinkage rate of 1.53 per cent making it 12th in the nations-with-most-shoplifters list.
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The world's biggest shoplifters; India ranks No. 1!
13. Latvia/Lithuania/Estonia: 1.50 per cent
The Baltic States of Latvia, Lithuania and Estonia have a shrinkage rate of 1.50 per cent of total retail sales and they are jointly in the 13th spot.
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The world's biggest shoplifters; India ranks No. 1!
14. Canada: 1.49 per cent
The Canadian retail industry suffers from a shrinkage rate of 1.49 per cent. Canada stands 14th in the list of nations with most shoplifters.
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The world's biggest shoplifters; India ranks No. 1!
15. Hungary: 1.48 per cent
The retail industry in Hungary has the world's 15th highest losses due to shoplifting with a shrinkage rate of 1.48 per cent.
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The world's biggest shoplifters; India ranks No. 1!
16. Belgium/Luxembourg: 1.47 per cent
Belgium and Luxembourg both have the same shrinkage rate of 1.47 per cent.
They jointly stand 16th in the list, says the survey.
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The world's biggest shoplifters; India ranks No. 1!
17. Slovakia: 1.46 per cent
Slovakia, with a shrinkage rate of 1.46 per cent, stands 17th in the list.
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The world's biggest shoplifters; India ranks No. 1!
18. Australia: 1.43 per cent
Down Under, the retail industry suffered from a shrinkage rate of 1.43 per cent in 2011, according to the survey.
Australia has the 18th most cases of shoplifting in the world.
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The world's biggest shoplifters; India ranks No. 1!
19. Ireland: 1.43 per cent
The Irish retail industry reported a shrinkage rate of slightly less than 1.43 per cent of total sales. Ireland thus reported the 19th most number of shoplifting cases.
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The world's biggest shoplifters; India ranks No. 1!
20. Poland: 1.41 per cent
Poland has a shrinkage rate of 1.41 per cent. The retail industry there is the 20th biggest sufferer in the world on account of shoplifting.
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The world's biggest shoplifters; India ranks No. 1!
21. France: 1.40 per cent
France ranks 21st on this list, with its retail industry showing shrinkage rate of 1.40 per cent.
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The world's biggest shoplifters; India ranks No. 1!
22. Greece: 1.40 per cent
Greece, which is on the verge of a debt default after having accumulated an unsustainable level of sovereign debt, stands 22nd in the list of nations with most shoplifters.
Its retail industry has a shrinkage rate of 1.40 per cent, just like that of France.
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The world's biggest shoplifters; India ranks No. 1!
23. Spain: 1.40 per cent
Spain too has a shrinkage rate of 1.40 per cent and ranks 23rd on this list.
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The world's biggest shoplifters; India ranks No. 1!
24. Sweden: 1.40 per cent
The Swedish retail industry too showed losses to the extent of 1.40 per cent of total sales on account of shoplifting.
Sweden has been ranked 24th in the list.
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The world's biggest shoplifters; India ranks No. 1!
25. Italy: 1.37 per cent
Italy has a shrinkage rate of 1.37 per cent.
It ranks 25th on the list.
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The world's biggest shoplifters; India ranks No. 1!
26. The United Kingdom: 1.37 per cent
Britain too has the same shrinkage rate of 1.37 per cent and stands 26th in the list of nations with most shoplifters.
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The world's biggest shoplifters; India ranks No. 1!
27. Norway: 1.35 per cent
Norway stands 27th with a shrinkage rate of 1.35 per cent.
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The world's biggest shoplifters; India ranks No. 1!
28. Finland: 1.34 per cent
Finland's retail industry suffers from 1.34 per cent losses from shrinkage and the nation ranks 28th on the list.
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The world's biggest shoplifters; India ranks No. 1!
29. Portugal: 1.33 per cent
Portugal ranks 29th in the list of nations with most number of shoplifters. Its retail industry experienced losses to the tune of 1.33 per cent of its sales due to shrinkage.
30. South Korea: 1.30 per cent
Last year shrinkage was $108.092 billion (1.36 per cent of sales), adjusted for the inclusion of South Korea and exchange rate changes.
The survey of major retailers in all business sectors in 43 countries provided 1,187 useable responses -- 25 percent -- with combined sales of $984 billion.
The results are grossed up to be equivalent the size of every national retail market surveyed