Here’s a security problem that you don’t hear much about but is a bane for retailers – shoplifting. Security InfoWatch reports that “According to the 30th Annual Retail Theft Survey conducted by Jack L. Hayes International, more than 432,000 shoplifters and dishonest employees were apprehended in 2017 by just 21 large retailers who recovered over $188 million from these thieves.”
Yet, “for every $1 recovered, $11.54 is lost to retail theft; meaning only 8.7 percent of total retail theft losses result in a recovery. That is a huge chunk of dollars scurrying out the door in an already margin-stressed industry.”
Even so, “Survey participants apprehended a total of 432,046 dishonest individuals (shoplifters and employees) in 2017, an increase of 1.7 percent from the prior year. In addition, dollars recovered from those apprehended thieves totaled over $188 million, which was an 8.1 percent increase from 2016.”
And shoplifters are getting more vocal and prone to assault when they’re spotted. It’s truly an unhappy scene at your favorite department, or other retail, store. Read about some of the “remedies” being applied to deter shoplifting.