Despite repeated warnings from retailers about shoplifting, it seems, according to industry data, that the problem is getting worse.
The British Retail Consortium (BRC) annual retail crime survey, covering the 12 months to April 2024, showed £2.2bn of store losses from theft – up £1.8bn from the previous year.
The period covered saw a £1.8bn investment in security, to counteract the thieves, from those operating independently to organised criminal networks.
With household costs increasing in Spring, retailers fear shoplifting will intensify.
Shoplifting losses and the cost of security in 2023/24 was a challenge to margins. The BRA has consistently warned about the pressure on margins and expects a reduction of £7bn this year factoring in the budget tax measures, which become effective in April.