Retail theft is a growing problem for US retailers, from micro-marts and corner shops to specialty boutiques and big box store chains. According to the National Retail Federation 2023 Retail Security Survey, the inventory shrinkage rate rose to 1.6% in 2022 from 1.4% in 2021, which represents a staggering  $112.1 billion as a percentage of sales. That's a lot of money that retailers could have used to expand product offerings, increase staff, or offer lower prices to customers.

The Wall Street Journal points out that while retailers are reporting an increase in shoplifting, it's difficult to pinpoint the exact cause. "Some analysts say the higher shrink may partly reflect a return to pre pandemic norms rather than entirely new trends in theft. Reduced visits to physical stores starting in 2020 simultaneously decreased the opportunities for theft, they say, an effect that dissipated as shoppers stepped out of their houses again."

Whatever the cause, retail theft is on the rise across all sectors, from the big box stores to the smallest retail outlets. While retailers and customers appreciate a frictionless shopping experience, it’s challenging to balance that with effective security. For example, unattended micro-markets, popular in offices and break rooms, are susceptible to theft due to their self-service nature and, specialty stores' self-checkout lanes can be exploited by dishonest customers.

A recent article in NACS Magazine from the National Association of Convenience Stores stated, "Loss prevention experts say the best solution for retail crime would be to have a police officer stationed at every shelf in every convenience store in every city in every state." While that is clearly impossible, there are solutions that can work together to help secure your store and minimize theft.

• Invest in security measures: Obvious security cameras, attentive staff, and well-lit stores can deter potential shoplifters. Technology can be extremely useful. In some instances, stores are turning to body cameras and two-way radios that indicate to a potential thief that the store isn't an easy target.
• Keep the store clean and organized: Simple things like store cleanliness and fully stocked and organized shelves make it easier to notice quickly if merchandise is missing. A general air of tidiness and attentiveness may deter thieves who thrive on disarray to get away with their crimes. Store design that avoids hidden corners and unlit areas will also make your store a less attractive target.
• Consider employee training: Train your staff to identify suspicious behavior and apprehend shoplifters safely and legally. Often, just letting potential shoplifters know that you see them and know their intentions will deter a theft.

• Secure high-risk products: For items frequently targeted by shoplifters, like the high-end products mentioned in a recent Specialty Food article, there is the option to use lockable display cases or security tags. While this approach does increase security in your store, locked cabinets can also deter genuine customers who don't want to wait around for an employee to open a door.

However, with the help of technology, we're increasingly able to offer frictionless shopping without the high theft risk.. At Minor Decliner, for instance, we offer our Retail Theft Protection System for a frictionless shopping experience, designed especially for beer Coolers, cooler doors, and other lockable display units. Minor Decliner ID scanners are contactless and can be integrated with door access control systems. Customers can only access the fixture by scanning their ID, which the system verifies before granting access. This accurate detection allows business owners to grant access only to legitimate customers and offers a great solution to reduce theft and deter underage purchases.