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'Busiest' online shopping day

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.

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Retailers set to lose over £1 billion during festive season

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.

Experts are predicting that over £1bn will be lost over Christmas Credit: Clive Gee/PA Wire

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.

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