When you work in retail, it doesn’t take long to notice that shoplifting is a primary concern. Have you ever wondered how much theft actually occurs in the United States? We’ve collected some of the most interesting retail shoplifting statistics and included helpful tips on protecting your business from this concern.
Retail Shoplifting Statistics from 2019-2020
Below are some surprising retail shoplifting statistics with their sources. Comparisons to previous years are in bold.
The below statistics are from the National Retail Federation’s 2021 National Retail Security Survey. The page where you can find the information in the 2021 report is in parenthesis.
- 16.7% of retailers noticed an increase in shoplifting since the COVID-19 pandemic (page 6)
- $461.86 is the average dollar amount lost per shoplifting incident, and this is an increase of $191.80 from 2019 (page 11)
- 52.8% of companies are allocating technology resources to address shrink risks (page 13)
- 43.1% of companies are allocating staff resources to address shrink risks, and this is an increase of 17% from 2019 (page 13)
The below statistics are from the National Retail Federation’s 2020 National Retail Security Survey. The page where you can find the information in the 2020 report is in parenthesis.
- 1.62% of a retailer’s bottom line is impacted by shrink, and this is an all-time high (page 6)
- Shrink is costing the industry a total of $61.7 billion (page 3)
- 7 in 10 businesses report a shrink rate that exceeds 1% (page 6)
- 95.7% of loss prevention awareness programs focus on discussing the loss concern during new hire orientation (page 13)
- 39.1% of theft deterrent devices are in use, and this is an increase of 15.3% from 2018 (page 15)
- 39.1% of retailers had shoplifting losses of less than $125 (page 18)
The below 2019 statistics are from the Retail Industry Leaders Association and Buy Safe America Coalition report on “The Impact of Organized Retail Crime and Product Theft in the United States.”
- $125.7 billion was lost in economic activity from retail crime
- 67% of asset protection managers at leading retailers reported a moderate to a considerable increase in Organized Retail Crime (ORC) theft occurrences
- ORC is most dominant in the following states:
Tips on Preventing Theft for Your Business
After reviewing the above retail shoplifting statistics, are you part of the average, lower, or higher? No matter your answer, there are steps you can take to strengthen your loss prevention program to protect your business.
- Implement and maintain loss prevention policies
- Make security measures known throughout the store, including:
- Security cameras
- Anti-theft signage
- Monitor current loss trends for your industry and area
- Search the store for weak spots (that make it easier for shoplifters)
- Work with a loss prevention solution provider that will:
- Listen to your needs
- Offer helpful suggestions
- Help you find solutions
- Assist you in meeting your loss prevention goals
What to Expect When Working with a Loss Prevention Company?
Adding and maintaining a loss prevention strategy in retail can increase your profits or lose them. Working with the Product Protection Solutions (PPS) team, a loss prevention solution partner can make all the difference!
At PPS, our team is ready to provide rapid, complete, technologically advanced, and cost-effective solutions. If you have unique needs, we can create a custom solution to help meet those goals.
Contact our team online or by phone (866-750-5744) to learn more.