Retail Theft Surging to Nearly $100 Billion A Year

Retailers lost nearly $100 billion from shoplifting and organized retail crime (ORC) activity. According to a National Retail Foundation (NRF) survey, the “shrink” rate in 2021 was 1.4% representing $94.5 billion in losses. ORC crime was up 26.5 percent from 2020. Retailers are adding more security guards in stores to help reduce crime.

“We’ve been asked to post guards at store entrances and in other strategic store locations, especially in cities where retail crime is running rampant,” says Fahim Abid, security director for Access Patrol Services (APS), a security guard company serving California and Arizona. “We’ve never seen such a high demand for retail security services.” Thirty-two percent of NRF survey respondents said they are increasing their budget for guards.

The NRF survey also noted that ORC theft often comes with violence and aggression toward employees and customers. “It’s not the job of employees or customers to stop theft,” says Abid. “In the past, security staff were often asked to take a ‘hands-off’ approach when they saw a theft in progress. That’s changing. When security guards have the opportunity to safely stop an attempted theft and detain a criminal, in many cases, they’re given the go-ahead to do so.”

Retailers see no signs that the crime spree is letting up. Walmart recently noted that it may have to close stores and increase prices because of ORC. Target said it has lost $400 million so far in 2022 due to theft.

Items most targeted by thieves are apparel, electronics, health and beauty, accessories and footwear. “Until harsher penalties are levied against these thieves and stronger preventative measures are taken, retailers will continue to suffer huge shrink loses,” says Abid. “Security guards are only one part of the solution.”

Access Patrol Services provides both armed and unarmed security guards. The guards patrol malls, strip malls and small and big box stores around the clock.

For more information about retail security guard services in California and Arizona, call Access Patrol Services at 866-770-0004 or click on https://accesspatrolservice.com.