Tamperguard| Manufacturer of tamper evident tapes & label materials ’s Post

Retailers across the U.S. have reported a 93% increase in the average number of shoplifting incidents per year in 2023 versus 2019, and a 90% increase in dollar loss due to shoplifting during the same period, according to the Impact of Retail Theft & Violence 2024, a report released yearly by the National Retail Federation.

Canadian retailers lost an estimated $9.1B to theft in 2024, according to the Retail Council of Canada. In response, security measures have strengthened, and more items are being placed behind lock and key. But the challenge remains: How can we protect stores and staff without impacting the customer experience?    At SYNQ, we help retailers address these challenges with digital tools that eliminate friction for in-store shoppers without compromising product security. From SKU-level shopping to digital call buttons and touchless lockers, our solutions empower retailers to reduce shrink, boost sales, and streamline operations.    Curious to learn more about how our solutions can help your business? Contact us today and let’s start the conversation.    Explore the full article from The Globe and Mail: https://lnkd.in/g--eZUVM 

The lack of a standardized definition for organized retail crime complicates efforts to address shrinkage and theft in the retail sector. Precise terminology is essential for practical solutions. https://bit.ly/43P3Sti Retail Dive #retail #SupplyChain

Retailers across the U.S. have reported a 93% increase in the average number of shoplifting incidents per year in 2023 versus 2019, and a 90% increase in dollar loss due to shoplifting during the same period, according to the Impact of Retail Theft & Violence 2024, a report released yearly by the National Retail Federation. https://lnkd.in/gTXCQ9Ed

NRF is stopping their annual shrink report after publishing it for over 30 years. In their words: "Over the last several years, as the nature of retail loss has evolved, it has become clear that a broad study about retail shrink is no longer sufficient...We will be releasing a new report later this year that examines the landscape of retail theft and violence." It's a very different landscape out there indeed. I recall Target recently noted that they were making progress against shrink by closing their most theft-prone stores and "partnerships at the federal and state and local level" (ie better enforcement). https://lnkd.in/en_WQTeW

So You want numbers, this blog from the states breaks down where retail shrinkage comes from, around about 40% from shoplifters, the remainder "Well just go and read the article"

Shoplifting and retail violence continues to rise - the average number of shoplifting incidents increased 93% from 2019 to 2023. Find this and additional insights in NRF’s latest report, “The Impact of Retail Theft and Violence," released today. Learn how retailers are protecting people and products, building stronger partnerships and using technologies to help mitigate loss. https://lnkd.in/eW2eAFiV

Eye-popping stats from NRF: Retailers are facing more theft, aggression, and organized crime than ever. It’s not just about loss—it’s about protecting your people and business. The businesses staying ahead are using cameras, access control, and real-time monitoring to protect what matters most. If your security system isn’t keeping up, now’s the time to reassess. Let’s discuss how to better protect your business and minimize risk.

Did you know you can reduce stealing in your shop by saying hello in the first 3-4 seconds to people who come in the door? Read our 3 Top Tips To Reduce Retail Theft article to find out more. #retail #retailsecurity #retailtheft https://lnkd.in/ehKA5QZ2

The NRF has dropped a bombshell: they're ditching their annual shrink report. Why? Because retail theft and violence are too complex for a one-size-fits-all approach. While the latest data from 2022 indicates that 63% of inventory loss stems from internal sources, and 65% of shrink is attributed to various forms of theft, including employee actions and external crimes, this year’s focus is on providing more precise insights. What are your thoughts on this? #Retail #Shrink #SafetyFirst