22 December 2023

Hey, check out this cool report on the big problem retailers face!

By Ronald Smith

So, I stumbled upon this super interesting report that tells us all about the serious trouble retailers go through because of smash-and-grab thefts. You won’t believe the cost of this kind of crime!

Moving on, let me give you a little glimpse into what this report has to say. It’s all about those criminals who smash into stores, grab what they can, and run away. This report dives deep into the impact of these thefts on retailers, and let me tell you, it’s not good news for them.

Now, I know you might be wondering, What’s the big deal? It’s just a few stolen items! Well, my friend, it’s a whole lot more than that. This report highlights how these thefts lead to all sorts of problems for retailers, and those problems add up to a ton of money.

According to this report, these smash-and-grab incidents often cause damage to the store itself. Broken windows, damaged display cases, and all that jazz. And let me tell you, fixing up all that damage doesn’t come cheap.

But wait, there’s more! It turns out that these thefts don’t just cost money in repairs. They also result in stolen inventory and lost sales. And when you add it all up, it’s a pretty hefty number.

Now, I bet you’re wondering just how hefty these costs really are, right? Well, according to the report, retailers are losing a whopping amount of money because of smash-and-grab thefts. It’s in the millions, my friend. Millions!

And the worst part? This kind of crime doesn’t just hurt the big retailers. Oh no, even the small businesses are feeling the sting. They don’t have the big budgets to cover all these costs, which means they suffer even more.

So there you have it, my friend. This report shines a light on the real cost of smash-and-grab thefts to retailers. It’s a big problem that’s hurting businesses and causing them to lose a whole lot of money. Something needs to be done to stop it!

Hey, check out this cool report on the big problem retailers face!

Wow, have you seen those shocking pictures of gangs of criminals storming stores and stealing everything in sight? It’s crazy how much money businesses are losing because of these smash-and-grab robberies.

The National Retail Federation (NRF) says that even a small group of criminals can make off with thousands of dollars worth of merchandise in less than a minute.

The High Price of Smash-and-Grab Robberies

According to the 2021 Retail Security Survey, organized retail crime (ORC) and violent incidents are becoming a bigger problem.

Let me tell you, these smash-and-grab robberies are not just bold, they’re completely outrageous. When you have 20, 30, 40, or even 80 people working together to carry out these crimes, it’s no wonder that stores of any size can quickly become overwhelmed. In the blink of an eye, they can walk away with tens of thousands of dollars worth of merchandise, depending on the store.

I have some pretty eye-opening information to share with you. According to a survey by the NRF, the average amount of money lost per robbery incident has skyrocketed to a staggering $7,594.48 in 2020. Can you believe that? Just last year, it was a mere $828.94. Now, picture this: for small business owners who already have limited inventory and minimal insurance coverage, this can be absolutely devastating.

Now, let’s compare these numbers to the losses caused by your everyday shoplifting. In 2019, shops were losing an average of $270.06 per incident. Fast forward to 2020, and that number has jumped to $461.86. Don’t get me wrong, that’s still a significant increase, but it’s something that most stores can bounce back from. However, this new wave of robbery and crime is a whole different story. It’s hitting large companies hard as well. Sure, they may be able to recover their losses thanks to their insurance, but think about this: would you risk your safety to shop in a store where criminals are running rampant? Yeah, I didn’t think so.

It’s Time to Talk about Organized Retail Crime

I’ve got no doubt about it, these acts are definitely crimes organized by gangs. You see, these gangs go after valuable things that they can sell quickly, either to fences or online. According to the report, their targets include fancy clothes, laundry detergent, fancy handbags, allergy medicine, razors, high-end alcohol, and painkillers. The thing is, when these big gangs strike, the losses can pile up to thousands of dollars in just a matter of minutes.

A Senate committee hearing held in early November 2021 shed even more light on this issue. During the hearing, Ben Dugan, who’s in charge of tackling organized retail crime at CVS, testified that the average professional thief who targets a CVS store manages to snatch $2,000 worth of merchandise in just two minutes. Impressive, yet infuriating.

In my opinion, the problem is getting worse because there aren’t enough rules in place for online marketplaces. In many gangs involved in organized retail crime (ORC), there are people called boosters who steal products and then sell them for high prices to someone called a fence. The reason they can do this is because they can quickly sell the stolen items as third-party sellers on online marketplaces. It’s pretty alarming because online sellers can easily open and close their sites, sometimes without anyone noticing, and this is directly contributing to the increase in criminal activity in our stores.

An Increase in Organized Retail Crime

A recent survey shows that almost 69% of retailers have noticed more ORC activity in the past year. Some of the reasons they give for this are changes in policing strategies, updates to sentencing guidelines, and the rise of online marketplaces. As one retailer in the survey said, Criminals are getting bolder because they know it’s easier to avoid getting caught these days.