Shoplifting Problem is Slowly But Surely Putting UK Shops Out of Business

Is the blind eye policy on shoplifting actually killing off what’s left of UK High Streets? It certainly isn’t helping that theft of goods under £200 in value isn’t regarded as a crime worth investigating by many Police forces in the UK. For those insurance brands or brokers still in the retail sector it’s worth considering your options, as many independent local shops are likely to close in the next 5-10 years. All that’s likely to be left are supermarket/chain convenience stores, charity shops, takeaways, pharmacies and barber shops.

Here’s some research by NFU Mutual;

More than nine in 10 retailers believe a recent surge in crime has impacted customers , an NFU Mutual survey has found.

The study, conducted by the commercial insurer, found that almost one third (30%) of retailers said the crime wave was contributing to the decline of the high street and reducing footfall in shops. Many retailers (36%) said there is less trust and communication between retailers and consumers, with 31% saying they were seeing an increase in internet shopping as crime takes its toll on the UK high street.

Further reasons retailers felt crime had impacted on customers included older and more vulnerable people being intimidated to shop in person (29%), shops feeling less welcome and accessible (28%) and the customer experience diminishing and lacking in personal touch (26%). Two thirds of those surveyed (67%) said they believed retail crime had increased in 2023, with just 3% saying they thought it had decreased.

James Jordan, Commercial Specialist at NFU Mutual, said: “Our study clearly shows that retailers feel a recent surge in crime has impacted customers and is affecting the fabric of our vital high streets.

“It is concerning to see so many of our retailers say shoppers have been affected by the rise in crime, but it’s good to see so many trying to do something about it – with our survey showing 82% of those asked saying they have taken security measures this year to try and protect their businesses.

“Retailers are right at the heart of our communities and it is imperative customers feel safe and maintain trust in the high street, especially during the current economic climate.

“We would urge retailers to take all the security measures necessary to feel protected and supported should the worst happen.”