
The most-stolen grocery item
What do sticky fingers find irresistible? The food item most tempting to shoplifters worldwide might surprise you.
This post comes from Jeanine Skowronski at partner site MainStreet.
Jean Valjean might have gone after a loaf of bread, but research reveals cheese is actually the food that's most likely to disappear from grocery stores due to theft.
Worldwide, the dairy product has a 3.09% shrinkage rate, besting fresh meat (2.79%), and chocolate and confectionery candy (2.78%) globally, according to the U.K.-based Centre for Retail Research. The shrinkage rate measures the amount of products received that go missing from store inventories due to theft or errors.
Chocolate and confectionery candy, however, were more in demand in North America, with a shrinkage rate of 3.60%. In North America, cheese is actually much less in demand when compared with other parts of the world. Its 2.76% North American shrinkage rate also lags behind infant formula, luxury cooked meats and alcohol.
The data are part of a larger survey by the U.K. retail and consultancy organization that has found retail shrinkage rates are on the rise. So far, retailers have lost $119 billion to theft in 2011, up 6.6% since last year.
Additionally, the cost of retail crime plus loss prevention was $128 billion in 2011, equivalent to $199.89 per family or $66.27 per individual.
According to the survey’s findings, dishonest employees cause $41.7 billion or 35% of losses. Customer theft, including shoplifting and organized retail crime, cost retailers $51.5 billion in 2011 (43.2% of total shrinkage), compared with $45.4 billion last year. Post continues below.
Shrinkage can also be caused by internal errors, including mispricing, invoicing errors and administrative failure.
The data are based on responses from major retailers in all business sectors in 43 countries. The survey’s full results are available on the Centre for Retail Research website.
More on MainStreet and MSN Money:
Well those numbers are impressive, but how do they compare to the amount of money lost due to the product going off, or past its freshness/expiration date & being destroyed?
How many starving people could have been fed if the manufacturers required retailers to donate the close to expiration dated products to local homeless/women's shelters, soup kitchens, and/or food pantries? Most of these organizations do not stockpile, in fact are unable to stockpile due to the need.
When I worked for Kroger the GM department took a bigger hit. Sudafed and Actifed till it was removed to behind the counter then condoms and dvd's. Alot of over the counter medicine and it has high dollar prices.
Dairy probably comes up in shrinkage due to dated merchandise that gets pulled then counted and tossed. I seen many still good items get tossed the day they went out. Stores also write off that shrinkage too. Basically, they sell it to uncle sam and throw it in the garbage.
RELATED ARTICLES
DATA PROVIDERS
Copyright © 2013 Microsoft. All rights reserved.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.
Japanese stock price data provided by Nomura Research Institute Ltd.; quotes delayed 20 minutes. Canadian fund data provided by CANNEX Financial Exchanges Ltd.
ABOUT SMART SPENDING
Smart Spending brings you the best money-saving tips from MSN Money and the rest of the Web. Join the conversation on Facebook and follow us on Twitter.
Editor Bev O'Shea lives and works in the foothills of the Appalachians. A former copy editor for The Atlanta Journal-Constitution and the Orlando Sentinel, she joined MSN Money in 2007. She's a fan of sunsets, college football and free shipping, among other things.
Having worked as a writer, reporter and editor for more than 25 years, Editor Julie Tilsner is the sort of person who can't help but correct grammar in Facebook postings and on billboards. She's written for BusinessWeek, the Los Angeles Times, Parenting, Redbook, AOL and others. She lives in Los Angeles County with her family and loves to drink wine and practice yoga, although not generally at the same time.
A writer for MSN Money since January 2007, Donna Freedman won regional and national prizes during an 18-year newspaper career and earned a college degree in midlife without taking out student loans. She also writes about smart money tactics for magazines and on her own site, Surviving and Thriving.
Mitch Lipka has been warning people about scams and shining light on questionable business practices for more than 20 years. Mitch, the consumer columnist for The Boston Globe, has also been a reporter and editor at The Philadelphia Inquirer, Consumer Reports, South Florida Sun-Sentinel and AOL. He won the 2010 New York Press Club award for best consumer reporting online and was honored in 2011 for his reporting on child product safety.
Marilyn Lewis is an award-winning writer with a passion for getting readers clear, straight information that helps them stay out of financial trouble. A former reporter for The San Jose Mercury News, she works from her home in Port Townsend, Wash. Contact her at MarilynLewis@Outlook.com.
LATEST BLOG POSTS
A single mom is taking a McDonald's franchise to court, saying she was forced to accept with a fee-heavy 'payroll card' instead of a check or direct deposit.
VIDEO ON MSN MONEY
TOOLS
- Best rates on savings
Find the highest rates on savings accounts, CDs and money market accounts.
- Are you saving enough for retirement?
- Find a great credit card
- Car insurance premiums by model




