SALT LAKE CITY — Shoplifting spikes around the holiday season and that is just another challenge facing businesses in 2020.
A new study by Business.org shows that 88% of small businesses experience shoplifting, while 40% have experienced an increase in shoplifting since the pandemic began.
Overall, 64% of business owners experience increased theft around the holiday season.
Here are some findings from the study:
- Customers aren’t the only ones stealing—1 in 3 employees get caught stealing from small businesses.
- 32% of small businesses have increased the prices of their products in order to make up for shrinkage.
- 28% of small business owners have had a shoplifting incident turn violent, while 2 in 3 businesses have called the police.
- The shoplifter gets away with the merchandise 40% of the time.
- 40% of small businesses have increased shoplifting since Covid-19