Shoplifting is the second largest source of inventory shortage according to the National Retail Security Survey. This one area alone accounts for 34% of retail businesses Annual Shrinkage and Loss.
- Shoplifting amounts to 34% of annual inventory shrinkage.
- Less than 1 in 50 shoplifters is ever caught.
- Estimated at $10.5 billion per year from retail businesses in the United States.
- Shoplifting losses have increased steadily each year.
- Increase may be due to growing presence of organized retail crime rings and shoplifting gangs working as a team.
- The #1 reason given for shoplifting – “It Was Easy, There was No Risk”!
- Area gas stations are using more vigilance to curb gas thieves. Every gas station in the country loses an average of $4,000 a year because of gas drive-offs, a TV station here reported. The local Citgo is using cameras to put gas thieves to shame. “Stealing gas is rampant. It is not just our station, but we chose to fight back,” said the manager. New cameras on the roof and new digital software are making it possible to catch thieves. With the new technology, it is easy to make out faces and license plate numbers. The station lost $650 in April. The digital equipment cost will quickly be offset by stopping the losses.
- In the heart of citrus country, growers who rely on diesel fuel to pump their irrigation systems and run their equipment are being victimized by thieves who target the large reserves placed among the trees. 750 gallons of diesel fuel stolen, in early April, out of a pump housed on the Lake Wales property of Hunt Bros., Inc. 500 gallons stolen from Holly Hill Fruit Products Co. in Davenport in March, despite an employee monitoring the tank because of a previous theft. 1,000 gallons of diesel fuel taken, in August, from a Ray-Bob grove fuel tank in Bartow. So far this year, more than 5,000 gallons of diesel fuel has been stolen from citrus groves across Polk County, according to Sheriff’s Office reports. Thousands more were reported stolen last year. Industry experts estimate growers statewide have experienced a 30 percent increase in diesel-fuel thefts in the past four months as the price topped $4 a gallon.
- Gasoline theft will cost the industry an estimated $537 million in 2008, more than four times the $134 million in 2007, according to the National Association of Convenience Stores. The average loss per store is $4,000 in 2008.
- People will not steal if they know in advance they are being watched. With the implementation of digital surveillance cameras and a public notification system including strategically located video monitors, warning signs, and notices, customers realize that they cannot steal without being seen or getting caught.
Businesses know the importance of protecting their inventory as pointed out in a recent article which stated; “The retail industry today is very competitive and retailers cannot afford to give up profits to thieves. Dishonest employees and shoplifters tend to go the path of least resistance and will target a retail location that has not invested in technology to prevent theft”.