SINGAPORE: Singapore retailers incurred more than
S$220 million in inventory losses last year.
According to a study conducted by retail security
experts Checkpoint Systems, customer theft accounted for 53 per
cent of the losses.
That is the third highest percentage in the
region.
Employee theft accounted for about a quarter of total losses, while
internal error as well as supplier or vendor theft contributed more
than 20 per cent.
The study said customers end up paying for the losses as an
"honesty tax" of about S$65 per head on average.
It added that small but expensive "mobile" items tend to have the
highest risk for theft.
The most commonly stolen items were from the cosmetics category,
including shaving products, perfumes, lipsticks and tweezers.
- CNA/al