Consumer Behavior

Retail theft a growing consumer concern

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October 25, 2023

Retail theft activity, which has forced retailers to lock up certain items and even close stores in the past few months, is becoming a growing concern for shoppers.

More than half of consumers, 56%, are concerned stores serving their community may close due to high theft levels.

When it comes to the items under lock and key 17% would shop elsewhere while 25% would go online to buy the items.

Those are data points from a Coresight Research survey regarding how retail theft and store closures are impacting consumer confidence.

A good number of consumers, 73%, are concerned retails will hike prices to cover the cost of retail theft, according to a press release on the survey.