15 Apr Shoplifting Trends. How does that impact my business?
The Council on Criminal Justice (CCJ) has recently conducted a comprehensive study on shoplifting trends in 24 major American cities that over the past five years, have consistently reported specific shoplifting data, from mid-year 2019 to mid-year 2023. Additional data comes from the U.S. Justice Department’s National Incident-Based Reporting Program (NIBRS) with a sample of 3,812 local law enforcement agencies.
Since shortly after the onset of the COVID-19 pandemic, the Council on Criminal Justice (CCJ) has tracked changing rates of violent and property crime in large cities across the United States. The pandemic, as well as the social justice protests during the summer of 2020 and other factors, have altered the motives, means, and opportunities to commit crimes.
The share of shoplifting incidents categorized as felonies (in five of the cities) nearly doubled from about 8% prior to the pandemic to almost 16% in the first half of 2023. This increase is attributed to state statutes setting felony theft dollar thresholds.
Small Business Perspectives:
Forbes Advisor conducted an in-depth analysis of retail theft, focusing on its impact on small businesses. A survey of American small business owners with brick-and-mortar stores employing up to 50 employee’s sheds light on the challenges faced by these enterprises.
The survey reveals that a staggering 90% of small business nationwide have experienced theft at their stores. The frequency of theft is significant, as 85% of small business report experiencing theft at least once a year, and only 5% report never experiencing theft.
Monthly losses from theft are a concern for 79% of small business, with losses ranging between $500 and $2,500 for the majority. Additionally, 10% of small business report theft losses exceeding $2,500.
To counteract losses due to theft, small business owners have taken various measures, including increasing prices (64%) and installing security cameras (50%). Notably, 41% of small business report an increase in the value of items stolen in 2023 compared to previous years.
According to this survey, the strategic use of surveillance cameras is an effective deterrent. A combination of visible and hidden cameras is suggested, providing evidence for the police and facilitating small business insurance theft claims. Additionally, tracking unusual patterns in sales and inventory through data analysis systems is also recommended, to quickly detect and prevent theft.
At Eyeson, we feel a big concern is the current state of shoplifting and how its forcing big box retailers to close stores where shoplifting cannot be contained. Don’t wait until it’s too late, we’re here to help you address theft issues!
Contact us today at:
+1 305-808-3344
sales@eyeson.biz