Recent research from Capital One Shopping reveals troubling statistics on retail theft. In 2023, stores lost an astounding $121.6 billion to theft, and projections indicate these losses could exceed $150 billion by 2026. Shoplifting increased by 19.4% in 2022, with organized retail crime and cargo theft making up 58% of these incidents. External theft, including shoplifting, represents the largest share of losses at 37%. Notably, the average shoplifting incident cost retailers $461.86, and stores only catch shoplifters about 2% of the time.

The report also highlights the significant impact of return fraud, which cost retailers $84.9 billion in 2022. In total, retailers lost $112.1 billion in gross revenue to theft that year. Organized retail crime has surged, with a 26.5% increase in incidents from 2020 to 2021. Additionally, 74.1% of retailers reported increases in external theft over the past five years. These insights underscore the critical need for retailers to implement advanced loss prevention strategies to protect their revenue.

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About Gatekeeper

Gatekeeper Systems’ expanded product suite of intelligent cart solutions offers solutions for EVERY retailer’s needs to minimize merchandise loss, reduce asset and labor expenditures.

Gatekeeper’s loss prevention and cart containment solutions utilize patented locking technology to put an end to cart-based shoplifting, shopping cart loss, and uninformed decision-making. Cart management solutions increase safety and reduce labor costs by maximizing productivity while simultaneously resulting in a positive store image.

Intelligent pushout theft prevention solutions stop thieves and their cart full of unpaid merchandise from leaving the store. Customizable technology allows retailers to defend their entire store or just a high loss department based on the store’s unique layout.

Business Intelligence solutions provide increased visibility for informed decision making. Increase efficiency, optimize fleet size, and perfect the entire customer shopping experience with store and enterprise-level analytics.

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