Survey: Retail theft up
New York City — Retailers lost $37.14 billion to theft last year, or 1.58% of retail sales, up from 1.44% in 2009, according to preliminary results of the National Retail Security Survey. The annual survey is conducted by the University of Florida for the National Retail Federation, with funding from ADT Commercial.
As in previous years, employee theft accounted for the largest (approximately 44%) portion of the losses. Shoplifting and organized retail crime was second, with 33%. Administrative errors, vendor fraud and unknown causes make up the rest.
The survey also asked retailers what cities were the most problematic for organized retail crime rings. The top cities, in alphabetical order, are: Atlanta, Chicago, Dallas, Houston, Las Vegas, Los Angeles, Miami, New York, New York/northern New Jersey, Philadelphia and Phoenix.
Loss prevention executives say senior retail leadership is more likely to understand how organized retail crime impacts the company’s bottom line as they zoom in on controlling costs in these challenging economic times.
Over half of survey respondents (58.3%) believe their top management understands organized retail crime, up 16% over last year. As a result, the survey found, many companies are allocating additional resources — including more personnel and greater investment in technology — to fight the problem.
NPD: Women top spenders in juvenile products market
PORT WASHINGTON, NEW YORK — Women are the majority spenders in the juvenile products market, accounting for 77% of total dollars spent, while nearly half of all dollars spent come from parents buying for their own children, according to The NPD Group.
Buyers ages 25 to 44 account for 57% of dollars spent on juvenile products, while more than half (55%) of the dollars spent in the juvenile products market comes from occasion-based shopping such as childbirth, baby showers, and adoption.
According to the report, of all dollars spent, 15% comes from items purchased off a baby registry, and half of all money being spent comes from the clothing and layette, seats, travel and carry, and furniture and nursery categories.
“Babies may be small, but their arrival into the world spurs some of the biggest spending a family might make outside of their home and car purchases,” said Anita Frazier, industry analyst, The NPD Group. “While women account for the majority of the spending against children of this age, this varies considerably by category. In the case of entertainment like books, music, and video, men account for 41% of spending.”
Timberland names head of corporate social responsibility
STRATHAM, N.H. — The Timberland Company has announced the appointment of Mark Newton as VP corporate social responsibility, effective June 13. In this new role, Mark will lead Timberland’s diverse global team responsible for managing the organization’s four areas of focus within CSR: environmental stewardship, global human rights, community engagement and transparency and reporting. Mark will report to Carrie Teffner, Timberland’s CFO.
Newton joins Timberland following eight years with Dell Inc., most recently serving as executive director of global sustainability, where he was responsible for balancing the company’s growth strategy to minimize impacts on natural and human resources across the value chain. During his tenure with Dell, he directed global policy development, stakeholder engagements and corporate strategies on environmental and social issues.