In the first half of 2024 alone, the cost of theft and fraud in Co-op’s food sector increased to £39.5 million. It was 19% more expensive than it was at this time last year, when it was £33.3 million.
Co-op is experimenting with artificial intelligence (AI) at 14 stores to identify hidden goods and notify employees in an attempt to reduce theft.
The technology may detect a physical assault taking place and directly alert security, asking backup, the business added.
As evidenced by an Association of Convenience Stores (ACS) research, the issue of rising theft is not exclusive to Co-ops.
Shoplifting reached a record high when the cost of living crisis struck, with 16.7 million occurrences documented in 2023—more than twice as many as in 2022—costing retailers an unprecedented £1.8 billion, according to an annual survey by industry group the British Retail Consortium (BRC).
In 2023, there was a notable surge in violence and abuse directed towards shop workers, with an average of 1,300 incidents per day—a 50% increase from 870 incidents the previous year.
