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U.S. Chamber of Commerce: In-Store Theft Worsening

U.S. Chamber of Commerce: In-Store Theft Worsening

The U.S. Chamber of Commerce recently shared new data finding that over half (56 percent) of small retailers say they have experienced theft, and 50 percent say retail theft has become worse over the past year. The data comes from survey questions asked as part of the Chamber’s Q3 2022 Small Business Index, polling 750 small business owners across the country.

As the Chamber points out, rising theft translates to increased prices for consumers, who are already seeing prices rise for many goods and services. According to the findings, nearly half (46 percent) of small retailers have been forced to increase prices over the past year as a result of shoplifting. Fifty-three percent say their business experiences more shoplifting or theft during the holiday season, indicating that things will only worsen throughout the rest of the year.

Image via US Chamber of Commerce

“Retail theft is not a victimless crime, and its increasing prevalence means greater danger for store employees and higher costs for law-abiding Americans,” commented Neil Bradley, Executive Vice President and Chief Policy Officer at the U.S. Chamber of Commerce. “Store owners are not only confronted with traditional shoplifting, but increasingly with highly organized criminal gangs who seek to profit by taking advantage of gaps in the law. To better protect businesses, employees, and customers from falling victim to organized retail theft, it is incumbent upon lawmakers to make changes, including passing legislation to stop the sale of stolen goods on online marketplaces, updating the definition of organized retail crime, increasing criminal penalties, and prosecuting these criminals for their actions.”

It isn’t only retail businesses who are being affected by an increase in theft. According to the Chamber, small businesses in all sectors are dealing with the trend, with four in ten (37 percent) of small businesses overall reporting having experienced shoplifting or theft in the past year. Fourteen percent said they experience it on a monthly basis or more often than that. Thirty-three percent indicated that they have experienced more theft in the past year than in previous years. Thirty-six percent say they have put in place enhanced security measures in the past year as a response.

The professional services sector is the one experiencing the most theft after retail. This includes consulting, financial services, insurance, etc. The survey found that 45 percent of small professional businesses say they have experienced shoplifting or theft in the past year and 42 percent said the theft has increased over the past year.

The Chamber says it has urged Congress to pass legislation to provide more transparency in online marketplaces by requiring sellers of large quantities of goods to provide basic, “know your seller” information. It also says it has urged state and local governments to prosecute theft rings and enact policy changes to help law enforcement and prosecutors to arrest and prosecute the criminals responsible.

Businesses concerned about shoplifting should take precautions such as: being aware of common tactics; keeping your store organized; utilizing security cameras, signage and mirrors; and training employees well.

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