Organized retail crime cost the retail industry almost $100B in 2021, according to the National Retail Federation. And there is no shortage of opinions suggesting the problem is getting worse.
Target reported a 50% increase in shoplifting incidents last year, accounting for a whopping $400 million in losses. Walmart CEO Doug McMillan said theft is higher than its historic levels.
Lowe’s has tested a program to fight crime through a technology it calls “Project Unlock.” The crime-fighting system activates power tools – automatically -- when they’re purchased fair and square at the point of sale. Otherwise, they remain deactivated, and useless to thieves.
Meanwhile, videos of smash-and-dash robberies are proliferating online as retailers of all stripes balance safety, security, shop-ability and , of course, profitability.
Against that backdrop, here’s the lates survey, and results: