Retailers in the United Kingdom are expected to lose £1 billion over Christmas as a result of shoplifting, dishonest employees and vendor or distribution losses, according to a new study released today by the Centre for Retail Research.
The report, funded by an independent grant from Checkpoint Systems, suggests that the losses incurred by the retail industry over this period could add an extra £38.09 to each UK family's shopping bill.
The report found that UK retailers could lose £522 million through shoplifting, £431 million through employee theft, and £47 million through vendor and distribution losses.
In total, the losses could represent a 3.4% per cent increase over the same period last year.
- Amazon.co.uk have predicted that Cyber Monday will be its biggest single day, with orders set to peak at 9.20pm.
- Marks & Spencer also said it was prepared for what it expects to be its busiest day of the year.
- Online analyst Experian expects UK consumers to make 115 million visits to retail websites on this year's Cyber Monday, an increase of 36% on last year.
- Asda Direct says it is expecting to see a 50% spike in traffic to its electronic equipment retail section, compared with a normal Monday.
- CD sales are also expected to increase by 70%, while some popular DVD titles are due for a 50% rise, the retailer said.
- John Lewis have reported a record week for its online sales, soaring to £37.9 million, and the third best ever week for John Lewis department stores, topping £124.2 million.
Consumers will today take part in the annual pre-Christmas shopping spree dubbed Cyber Monday.Read the full story ›
High street retail giants, including Tesco, Sainsbury's and Topshop, have called for Sunday trading laws to be relaxed on December 23 to give stores a financial boost, reports the Daily Mail.
The busiest shopping day on the high street often falls two days before Christmas Day, with the weekend of December 22 and 23 expected to draw peak numbers of shoppers this year.
On Mega Monday, people across the UK will go online and use their Visa cards to make 6.8 million transactions, the most in a single day in UK history.
That's 21% more than in 2011, signalling that consumers are becoming increasingly accustomed to the advantages of shopping online for everyday purchases and special items, especially in the lead-up to Christmas.
A combination of pay day for the majority of consumers falling on the last Friday of the month and a weekend spent browsing the shops results in shoppers logging on to buy their gifts online on the subsequent Monday, a Visa Europe report has found.
All of these factors will result in consumers spending £222,222 per minute, making 4,722 transactions every 60 seconds.
Brits are set to blow a record-breaking £1billion online today in the pre-Christmas shopping spree dubbed Cyber Monday, reports the Daily Mirror.
Experts predict that this year the nation’s consumers will shed their austerity shackles in a massive buy now, pay later splurge.
Online retailers are braced for their busiest day of the year as consumers take part in the annual pre-Christmas shopping spree dubbed Cyber Monday.
Recent years have seen online shopping figures consistently peaking on the first Monday in December, probably explained by most UK consumers having just received their last pay cheque before Christmas.
Visa Europe predicts £320 million will be spent on its cards alone as online transactions top 6.8 million, an increase of 21% on last year, making December 3 the busiest online shopping day in history.