Published on: November 13, 2023
Market forecasts highlight scale of opportunity
Thruvision recently commissioned Retail Economics, a leading independent consultancy, to produce an in-depth report on the scale of theft in the UK retail market. The report estimates that in calendar year 2023 the value of retail theft will reach £7.9bn, with 40% of this theft from retail workers themselves, concentrated in warehouses and distribution centres. Losses from dishonest employees are, on average, four times higher than from shoplifters, adding to retailers’ operating costs and squeezing profitability. We see this as a significant driver of demand for the Thruvision product, which is already gaining traction with a growing number of leading retailers and global logistics providers.