Shoplifting on the rise as hard times hit HK Celine Sun Nov 11, 2009 Email to friend Print a copy Bookmark and Share Hong Kong's retailers are estimated to have lost HK$1.17 billion to shoplifters over the past year - and they say theft has worsened since the onset of the financial crisis. The estimate is contained in a worldwide survey, which ranked Hong Kong shops' losses seventh in the region. The Global Retail Theft Barometer is an annual study of more than 1,069 retailers in 41 countries and regions, and is conducted by the Britain-based Centre for Retail Research and security firm Checkpoint Systems. It was the first time Hong Kong had been included in the study. According to the survey, nearly 30 per cent of Hong Kong retailers said the number of thefts at their stores had risen this past year. Retailers in Japan and India lost the most - US$5.55 billion and US$1.18 billion, while the worldwide figure totalled US$48.8 billion. Respondents said thieves tended to focus on small, expensive branded items such as electronic games, DVDs, iPods, clothing, cosmetics, face creams and pricey foods. Natalie Chan, Asia-Pacific marketing director with Checkpoint Systems, said Hong Kong was a well- established city with strong police and security forces. And many local retailers also used tactics such as displaying dummy cartons on shelves to protect expensive products like cosmetics and drugs. "These tactics may help prevent shoplifting, but they are not an open way of merchandising and may embarrass customers sometimes," Chan said. Just over 40 per cent of respondents worldwide said that shoplifting had become more serious in their stores this year. In Hong Kong, 30 per cent of retailers agreed. Chan said there were two possible reasons - desperate people needing money and stores spending less on security to save cash. "However, many retailers would find the cost they saved from purchasing security devices fell far short of their losses due to shoplifting," said Chan, suggesting retailers increase their budget for security. Seven firms in the city, representing US$2.2 billion in annual sales and 90 outlets, took part in the survey.
