Sir: The recent Retail Fraud Study carried out by Martec International revealed only 55% of retailers are sharing information in the battle against retail theft and fraud, despite seeing collective shrinkage reach 1% of sales. The study also showed 22% believe collaboration with other retailers is unnecessary.
But sharing information with competitors and the police is key. It allows retailers to build an accurate picture of retail crime trends and determine which offenders are low level and which are part of a network of professional criminals. That enables them to allocate their security staff and budgets more appropriately.
In short, collaboration should be a priority for all who want to win the war against shrinkage.
Richard Paterson, business development manager, Hicom