India Ranks No: 1 in Shoplifting

India has topped the list of global retail theft barometer (GRTB) for the third consecutive year with a shrinkage rate of 2.38 percent. The central retail research brings out every year the global retail theft barometer. The shoplifters have been a great pain for the retail industry as they incur huge losses. The Global Retail Theft Barometer (GRTB) for 2011 revealed that the shrinkage rose up to $119 billion and the percentage has shot up by 6.6 percent since the last year survey. The inventory loss caused by crime or administrative error has caused shrinkage of 1.45 percent of total sales in 43 countries. After a dip in shrinkage last year (2009-10), it has risen in the 12-months ending June 2011 as a result of increased shoplifting, higher employee fraud, and organized retail crime, reveals the report.

India

India has topped the list of global retail theft barometer for the third consecutive year. Though India does not want to hold such non-worthy record, the country is forced to, as the percentage is 2.38 percent which is one percent more than Russia that stands second.
The previous year's shoplifting rate was 2.72 percent which has dropped down to 2.36 percent this year; however, India still holds the rank 1 position. The Indian retail industry is the biggest sufferer of shoplifting. There are already plenty of scams and extensive corruption in India and in addition to this, there is widespread shoplifters in India. The causes of shrinkage reflect retailer perceptions in their own businesses. Internal error including mispricing, invoicing errors and administrative failure cost $19.4 billion, representing 16.2 percent of total shrinkage.

Russia
The global retail barometer has ranked Russia at second place in shoplifting after India. The shrinkage rate is of 1.74 percent in the retail market. The rate has increased by 0.13 percent this year compared to previous year. This has increased due to the shoplifting of goods worth $4 billion. Higher employee fraud and organized retail crime has seen an increase in Russia of late. Groceries like cheese, fresh meat, sweets and alcohol are the popular items shoplifted by Russians. This year it has overtook morocco in shoplifting. Errors like mispricing, invoicing error and administrative failure caused them a huge loss of $19.4 billion which leads to a total shrinkage of 16.2 percent.

Morocco
The country was in second spot previous year, but the shrinkage rate has increased when compared to last year. It was 1.64 percent in 2010 and now it is 1.72 percent. It is Russia who brought them to the third slot. Mismanagement and dishonest employees are the main reason for increase in shoplifting. This organized retail crimes has cost the retailers about $51.5 Billion this year which has boosted up from the previous year ($45.5 billion). Every year the increase in customer theft is about 13.4 percent.

South Africa
South Africans have made their space in global shoplifter ranking at fourth place. The inventory loss by the retail industry in the nation is 1.71 percent.

Brazil
The fifth biggest shoplifting nation experienced shrinkage of 1.69 percent.