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IPFS News Link • Crime

US Retail Theft is About $95 Billion and California Leads With $7.8 Billion

• https://www.nextbigfuture.com, by Brian Wang

* Retailers lost as much as $94.5 billion in gross revenue to theft in 2021, up 4.07% year-over-year (YoY).
* 58% of organized retail crime is cargo theft.
* The average shoplifting incident costs retailers $461.86 in 2020.
* Stores catch shoplifters roughly 2.0% of the time; the average shoplifter is arrested once out of every 100 incidents.

At 37%, external theft (shoplifting, organized retail crime) represents the largest share of losses from retail theft.
9.09% of Americans shoplift.
74.1% of retailers report increases in external theft over 5 years (2016 – 2021).
28.5% of retail theft is internal or employee theft.
56.9% of retailers report increased internal theft over 5 years.
25.7% of retail theft results from process and control failures.
8.9% of theft losses are due to other or unknown causes.
From 2019 to 2020, the dollar value of retail theft losses increased 47.2%.
The dollar amount loss per shoplifting incident increased 71.2% YoY.

Retailers in California lose an estimated $7.837 billion in annual revenue to theft.

California retailers lost $256.77 in sales per capita.

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