Iceland is introducing a £1 reward for customers who report shoplifters in-store as a response to significant theft losses estimated at £20 million annually. The executive chairman, Richard Walker, emphasized that shoplifting is not a victimless crime; it directly impacts business operations, limiting their ability to compensate employees and maintain lower prices. This initiative aims to engage customers in helping combat theft and underscores the broader implications of shoplifting on the entire retail business model.
"Shoplifting is not a 'victimless crime'. It is a cost to the business that limits what we can pay our colleagues and lowers prices."
"We will give £1 to any customer who points out a shoplifter. It keeps prices from being lowered as theft impacts our business costs."
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