Hard to believe but there are only eight shopping days remaining until the Christmas holiday.
But as retailers roll up their sleeves in hopes of experiencing strong returns in this dismal shopping year, these companies also have to be on guard. More shoppers, coupled with the economic struggles many consumers are facing, potentially leads to an increase in retail crime and more loss.
Return fraud is a significant issue as well. In 2009, $9.59 billion in losses were attributed to return fraud, the National Retail Federation reported in its Return Fraud Survey 2009, and retailers can expect to lose $2.7 billion this holiday season. Much of the loss was due to the return of stolen merchandise and the return of merchandise purchased with fraudulent or stolen tender, such as counterfeit checks or stolen credit cards.