Is Shoplifting Really On the Rise?
Audio version available here:
Length: approx. 1 min. 15 sec.
Looking at recent headlines, one would assume that shoplifting has become an inescapable epidemic for retailers. With stores like Target blaming “theft and organized retail crime” for recent closures in major cities, it’s easy to say that the rising trend of group shoplifting has become a serious issue. But is there really a rising trend?
According to data from the Council on Criminal Justice, 2023 has seen an uptick in cases of theft at retail stores, but not of the group “smash and grab” variety that is constantly published on news networks. Rather, the vast majority of shoplifting events are committed by a single person. However, with easy accessibility to public networks, isolated incidents of brazen organized theft by groups of 5 or more people can be easily published and spread around. With the public alarm sounding off on these events, recent discussions on criminal justice reform have become stuck on the topic and the real root of asset losses in stores is left clouded.
For business owners feeling vulnerable with the rise of shoplifting, you know that protecting your store’s assets and employees is the priority. But giving into the fear of a group attack and ignoring the more likely threat of a single perpetrator can negatively impact your business. Look at the numbers and invest in the right protection. For guidance on the financial impact this could have on you and your business, do not hesitate to reach out to our experienced professionals at XQ CPA. We are here to help.
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