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Shoplifting and other fraud cost retailers nearly $50B last year

from Money

Loss of inventory from stores — due to causes including shoplifting and employee theft — cost the U.S. retail industry nearly $48.9 billion in 2016. The National Retail Security Survey, conducted annually by the National Retail Federation trade group, found that the average inventory shrink rate increased to 1.44 percent in 2016. That figure — which measures missing inventory — includes items that go missing because of shoplifting, theft by employees, administrative errors, vendor fraud and other unknown loss. more

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