Just How Serious Is Retail Crime In London?

Retail crime in London is at an all time, even after the efforts of the London Metropolitan Police to keep it in check. Largely, this is due to the fact that the greatest burden of prevention lies with the retail businesses and outlets themselves. If these businesses fail to take advantage of the latest technology then they are leaving themselves open to a range of potential risks.

Retail security in London isn't something that you can simply ignore, and failing to pro-actively defend against it means that you are leaving your property and business completely open.

Key Facts About Retail Security In London

If you believe that retail crime in London is no longer as large a threat as it once was, then these findings by the Business Retail Crime Survey are definitely going to convince you otherwise.

For example, the total cost of retail crime in London, between 2014 and 2015, was a staggering £613 million. That's a 2% increase on the previous year, with the number only predicted to grow during the 2015-2016 period. With more than 4 million offences committed across the retail industry, the average cost of each offence works out at £150.

Customer Thef

You'd be forgiven for assuming that these crimes are largely the result of customer theft, but the number of customers successfully stealing from a retail outlet has decreased by 2%. Unfortunately, the average cost of each customer theft has increased by 35%. That means the average cost of a customer theft incident is approximately £325 per incident. That is a record high, so although fewer people are stealing from retail outlets, each theft costs more. This is likely down to more expensive products being stolen, including the latest electrical and gadgets.

Insider Threats

Threats from the inside account for approximately 6% of all retail crime in the capital city. What's worse is that the average cost of an employee stealing from their company has risen to an astonishing £1,114. Many businesses have also reported that they have been the victims of all kinds of malicious activity from within the business, including the leaking of sensitive information and fraud.

How Much Was Spent On Retail Security In London?

Perhaps most shocking for a full range of people is the sheer amount that businesses have already spent on retail security in London. Each major retailer in London is already estimated to have spent an astonishing £3.1 million on protecting their retail outlets from potential threats.

Whilst this number might seem huge, it clearly hasn't been enough to prevent a full range of criminal activity being directed at retail outlets and businesses. If your business hopes to keep its losses as low as possible, you need to make sure that your retail properties are outfitted with high-quality retail security in London.

Choose Tagmax For High-Quality Retail Security In London

Here at Tagmax, we are able to provide a full range of comprehensive retail security solutions to protect your business from a full range of criminal activity. Whether you're looking to eliminate employee thefts and other insider threats or criminal activity from customers, then you need to make sure your property is outfitted with the latest CCTV and security software.

For more information on the real benefits that our retail security in London can provide, don't hesitate to get in touch with our professional team of retail security specialists today on 0844 417 2946.