Britain's £2 billion shoplifting spree sparks security overhaul [Fortune]
Amazon.com, Inc. (AMZN)
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Source: Fortune
Almost £2 billion ($2.5 billion) of stock was stolen between September 2022 and August 2023, according to the British Retail Consortium's latest crime survey — the most on record and nearly twice as much as in the preceding 12 months. The number of violent or abusive shoplifting incidents also rose to more than 1,300 a day, up from 870 a year earlier, the BRC said. Related Video The wave of retail crime is not just a British problem: Post-pandemic price rises have also driven demand for discounted and often stolen goods in the US and parts of Europe and Asia. But the effects of runaway inflation in the UK were compounded by a light-touch approach to tackling low-value thefts, which retailers say has emboldened shoplifters and discouraged police attendance. Britain's retailers, who have traditionally had few effective ways to tackle shoplifting, believe they will be able to turn the tables in 2025. Spending Millions Richard Walker, chief executive officer of frozen food reta
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