Shoplifting will cost retailers €40 million this Christmas, according to the business lobby group Isme.

The organisation has warned retailers to be extra vigilant during the holiday period as they are twice as likely to be targeted over Christmas than at any other time.

It estimates that half of all retail outlets across the country will be targeted by shoplifters over Christmas, with most businesses experiencing more than one incident.

The association said the level of shoplifting is increasing, which it attributed to the recession.

Annually, the cost of shoplifting to retailers is believed to be in excess of €200 million; an estimate which does not include the amount spent on security staff and other precautions.

Alcohol, electronic goods, toiletries, clothing and food products are the most common items targeted by thieves and Isme calculates consumers pay up to 3 per cent more on the price of goods because of shoplifting.

"There is no doubt that shoplifters see the Christmas period as the ideal opportunity, as there are bigger crowds in stores, more stock on shelves and an increase in temporary staff, who may not have the experience to identify shoplifters," said the association's chief executive Mark Fielding.