Why retailers need to collaborate against cybercrime

2023 saw a new record for UK retail, and not a good one. Over 16 million shoplifting incidents were recorded last year. This is more than double the year before, costing retailers £1.8bn—the first year losses have topped £1bn.

So how can retailers stop shoplifting? There are lots of things they can do as individuals. More in-store patrols, CCTV, and security tags can all help. But if reports are to be believed, it’s not just opportunistic shoplifting that’s on the rise. Organized theft is much more common too, where rather than a single person surreptitiously hiding an item, gangs will target a store and sometimes strip it nearly bare.

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