Infographic
The state of retail theft and shrinkage in Australia
Earlier this month (March, 2023), Reuters reported that retail theft has hit record levels in Australia. In NSW, a 23.7% rise in store theft from 2021 to 2022 represented the biggest year-on-year rise since records began in 1995.
Retailers are being squeezed from all sides right now. Supply chains are struggling and input costs are rising. But retailers are reluctant to pass the costs on to consumers because inflation is also putting pressure on household spending.
And that means margins are tight.
One way that retailers can claw back some of the bottom-line impact is by focusing on loss reduction.
So, we crunched some of the numbers for you.
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