Poundland invests in new security technology after millions lost to shoplifting
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Poundland has said it is plugging more money than ever into new security measures to tackle retail crime after losing more than £40 million worth of stock last year. The bargain retailer, which sells a large proportion of its products for £1 or less, said it had been a particular target of theft and abuse.
The fresh round of investment will include kitting out staff with anti-theft technology, such as body-worn cameras in shops with the most prolific crime issues. A trial run by the retailer found that the cameras drove an 11% decrease in violence against staff, as well as a reduction in shoplifting.
Poundland, which has more than 800 stores in the UK, said the rate of theft and abuse against workers had “accelerated significantly” across its shops over the past 18 months. Last month, Poundland owner Pepco revealed that the loss of stock had become a major issue for the retailer.
Stock shrinkage – which can include theft and shoplifting – amounted to about 52 million euros (£44 billion) over the past year, up 30% over the last two years, Pepco said. This came alongside weaker sales for food and general merchandise, which prompted the group to take steps to bolster its financial performance, including lowering prices for customers and increasing cost savings.
