THEFT PREVENTION METHODS RETAIL STORES NEED TO IMPLEMENT

If you own and operate a retail store of any size, you should be worried about regularly undetected and criminally overt theft.

And it does not matter if your retail store is located in a high-crime area or a posh, wealthy neighborhood – any retailer can be a victim of theft.

Over $13 billion is stolen from retailers every year due to shoplifting and theft. American retailers collectively lose $35 million daily due to theft, to put that number in context.

And those figures only touch on the thefts that retailers know have occurred.

One out of 11 people will shoplift in their lifetime. Over 10 million people have been caught stealing in the United States over the past half-decade.

Only one out of roughly every 50 shoplifters is ever caught.

And shoplifting costs retailers and consumers a lot. Retailers must compensate for the loss and then pay even more for replacement products and materials. Or they could increase prices to compensate for their losses, which in turn could alienate their loyal customers.

In 2016, the average American retailer lost over $800 per robbery or shoplifting incident. That number fell to about $460 in 2020, but that is not really a cause for celebration. 

Worse, retailers must worry about theft from within, which they may overlook until it’s too late.

Dishonest employees working for retailers stole $1,550 worth of goods per robbery incident.

And the news about shoplifters is just getting worse for retailers.

Shoplifting is becoming more prevalent and violent. Violent shoplifting where no one is hurt or killed is not a priority for police. In San Francisco, for example, violent shoplifting has surged over 88% compared to the same time last year.

What’s more, shoplifting is a misdemeanor crime non-prioritized by overworked police dealing with more violent and deadly crimes. 

The penalty for shoplifting is lenient and not really a deterrent for experienced and skilled shoplifting crews and syndicates.

However, no matter how dire the situation, you can always take proactive steps to prevent shoplifting and major theft in your retail store.

Before discussing these measures, let’s explore the multifaceted problems of shoplifting in America and why you are better off implementing theft prevention measures now than later.

Contact B&B Roadway and Security Solutions today to learn more about customized theft prevention measures to protect your store.