Retail crime is costing the sector dearly, a new report says.
(file photo) Photo: 123RF
The report, from Retail NZ and the University of Otago, shows that retail crime costs the sector about $1.1 billion a year.
On top of that, businesses are spending more than $500m on crime prevention.
Retail NZ spokesperson Greg Harford said small businesses and high-street retailers were particularly vulnerable.
"Retailers are reporting a sizeable number of violent and aggressive incidents every year, as well as more sophisticated fraud incidents," he said.
Mr Harford said retailers needed to be more alert and report incidents to police.
"The survey shows that, overall, just 31 percent of retail crime goes unreported, either because there's a perception that the police won't act, or because it is time-consuming and difficult to do so," he said.
