Shoplifters to hit retailers for €51m over festive season

Retailers are to be hit for an expected €51m over Christmas as a result of shoplifting, with electronic goods like tablets, smartphones and games the most popular targets for thieves.

The Irish Small and Medium Enterprises Association (ISME) has warned retailers to be extra vigilant, stating they are twice as likely to be the victims of shoplifting over the festive period.

The group said the direct cost of shoplifting to retailers this year will be in excess of €230m, of which €51m will occur at Christmas alone. ISME pointed out that this does not take into account the amount spent on security, which adds hundreds of millions on to the cost for shops. It is estimated that shoplifting alone adds up to 3% to the price of products.