90% of small businesses experience retail theft: report

Theft rates vary among small businesses, but the consensus is clear: it’s a prevalent problem. For many retailers, customer theft occurs a few times a week, with some experiencing it daily. The repercussions are significant, with monthly losses ranging between $500 and $2,500 for the majority of affected small businesses.

These figures show the harsh reality that theft is not just an occasional setback but a consistent drain on resources and morale.

According to Forbes Advisor, 2023 report indicates that Alabama, while ranking eighth worst in retail crime cost to business, fares better than the study average, with a loss of $305 per resident compared to the average of $449.

Despite this, Alabama is among the top 15 states with the least lost tax revenue due to retail crime, at $24 per resident. In contrast, California and Pennsylvania are significantly more affected, with California losing an average of $353 per resident and Pennsylvania topping the list with $430 lost per resident in stolen goods…