External theft
What is external theft?
External theft is the act of stealing merchandise, cash, or property from a business by individuals who are not employees, such as shoplifters, burglars, or organized retail crime groups. This type of theft includes tactics like concealment, price switching, fraudulent returns, and smash-and-grab robberies. External theft leads to financial losses, increased security costs, and potential safety risks for staff and customers. Businesses combat external theft with video security, access controls, and loss prevention strategies to protect assets and reduce shrink.
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Why does external theft matter?
External theft matters because it directly impacts a business’s profitability, security, and customer experience. Retailers, restaurants, and other businesses lose billions annually to shoplifting, fraud, and organized retail crime, leading to higher prices and increased security costs. Beyond financial loss, external theft creates safety risks for employees and customers, especially in cases involving violence or repeat offenders. High theft rates can also damage a store’s reputation, reduce inventory accuracy, and strain staff morale. To prevent these issues, businesses invest in video security, access controls, and loss prevention strategies to deter theft and protect assets.
