Business
Global Market Trends (25th Feb., 2022)
February 25, 2022
January 14, 2025
By Evans Momodu
1 minute read
Poundland is ramping up its investment in security measures following the loss of over £44m worth of stock last year.
The discount retailer, known for selling many items at £1 or less, has faced increased incidents of theft and staff abuse.
To address this, the company is equipping employees with anti-theft tools, including body-worn cameras. During a trial, these cameras reduced violence against staff by 11% and helped deter shoplifting.
Poundland is also strengthening partnerships with police to target offenders and hiring more undercover security personnel.
The move comes amid a wider trend of rising shoplifting rates. Official figures released in October revealed shoplifting in England and Wales reached a 20-year high, with Poundland’s stock losses—encompassing theft and other forms of shrinkage—rising by 30% over two years.
Nearly 470,000 shoplifting offences were recorded by police in the year leading up to June 2024, marking a 29% increase from the previous year.
Source: Sky news
Image: Wales online
