UK retailers are grappling with the rising threat of organised theft in warehouses, distribution centres, and stores. Thruvision and Retail Economics research forecasts the value of retail theft to reach £7.9bn in 2023.
While media attention often centres on consumer shoplifting, a significant portion of retail theft stems from employees. Shoppers contribute 60% (£4.7bn in 2023) of theft, but crucially, 40% (£3.2bn) is attributed to employees, mainly in warehouses and distribution centres.
Dishonest retail employees, though a tiny minority, tend to operate in organised groups, engaging in more frequent and larger-scale theft than individual shoplifters, with associated risks of violence and compromised safety.
Given the handling of extensive merchandise volumes, the retail industry is particularly vulnerable to employee theft, leading to consequences such as profit loss, low morale, and inventory inaccuracies.
Thruvision and Retail Economics present a comprehensive Cost of Retail Crime report, exploring evolving motivations behind theft, structural changes providing increased theft opportunities, and strategic priorities for the industry to address this growing issue.
Download your free copy now: The cost of retail crime