International security technology firm Checkpoint Systems released its #link:http://www.globalretailtheftbarometer.com/:Global Retail Theft Barometer# on Thursday, showing that shrink was down slightly in most of the 24 country surveyed, reaching a total of 96.8 billion euros ($128 billion).

The study was carried out by London-based research group The Smart Cube, and was based on phone as well as written survey interviews conducted among 222 retailers representing $744 billion in sales in 2013.

"This report provides detailed descriptions of the sources of shrink and helps retailers understand the most cost-effective ways of addressing their problems," The Smart Cube said in a statement.

Per household, retail crime across the 24 countries surveyed ranged from $74 to $541. The annual cost of shrink to German shoppers, as passed on from retailers, was 4.7 billion euros, which amounted to an average "theft levy" of 87 euros per household, or 1.1 percent of retail sales.

The lowest shrink rates were recorded in Norway with 0.83 percent of sales, followed by Japan. The US came in at 1.48 percent, or $403 per household. The highest rates were recorded in Mexico, at 1.70 percent and China, reporting 1.53 percent.

Shoplifting, employee theft rank highest

While shoplifting is the biggest cause of all retail shrink in 16 of the 24 countries surveyed, in the US, employee theft ranked first at 42.9 percent. In Germany, those to figures are almost equal, with employees accounting for 35 percent of thefts and shoplifters for 37 percent.

Shoplifters and dishonest employees primarily targeted products that were easy to conceal and resell in the market, including fashion and mobile phone accessories. Other frequently pilfered products include power tools, wines and make-up products.

The survey attributed the overall reduction in shrink to an increased focus on loss prevention methods and a slightly improved economic outlook, particularly in North America. In addition, there was increased spending on loss prevention in countries with the best shrink improvements.

For example, German retailers were cited as spending 3.5 billion euros annually on prevention, about 0.82 percent of their revenues.