Poundland, the popular bargain retailer, is taking significant steps to address the growing issue of retail crime. The company has experienced substantial losses due to theft and abuse, prompting a major investment in security measures, including body-worn cameras for staff and increased collaboration with law enforcement.
Poundland has announced a significant investment in new security measures to combat the escalating issue of retail crime. The discount retailer, known for its wide range of products priced at £1 or less, has suffered losses exceeding £40 million worth of stock last year due to theft and abuse. This latest investment will see staff equipped with anti-theft technology, including body-worn cameras in stores experiencing the highest crime rates.
A trial run by the company revealed a promising 11% decrease in violence against employees, coupled with a reduction in shoplifting incidents. Poundland, operating over 800 stores across the UK, states that the rate of theft and abuse against its workers has surged considerably in the past 18 months. Last month, Poundland's parent company, Pepco, disclosed that stock loss had become a critical concern for the retailer. Stock shrinkage, encompassing both theft and shoplifting, amounted to approximately 52 million euros (£44 million) in the past year, a 30% increase over the previous two years. This surge in stock loss coincided with weaker sales in food and general merchandise, prompting the group to implement strategies to strengthen its financial performance, including lowering prices for consumers and enhancing cost savings.Beyond bodycams and headsets enabling swift staff communication during incidents, Poundland is intensifying its collaboration with local law enforcement to apprehend offenders and expanding its undercover security team. Official statistics released in October revealed that shoplifting in England and Wales reached a new 20-year high. Nearly 470,000 offences were recorded by police forces between June 2023 and June 2024, marking a 29% increase from the previous year and the highest annual figure since records began in 2003. Implementing this technology and resources represents the company's most substantial investment to date in tackling retail crime, although the specific financial value of this investment remains undisclosed
RETAIL CRIME SECURITY MEASURES POUNDLAND SHOPLIFTING EMPLOYEE SAFETY
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