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German store thefts to rise to $3 billion in 2023 | Economy

by manhattantribune.com
2 July 2024
in Business
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German store thefts to rise to $3 billion in 2023 | Economy
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Retailers in Germany are facing a growing problem with shoplifting, according to a study by the Institute for Business Research (EHI).

According to the study, thieves stole goods from stores in Germany worth 2.8 billion euros ($3 billion) last year, a 15% increase compared to 2022.

The study indicated an increase in thefts in grocery and clothing stores, as well as pharmacies.

Causes of the phenomenon

Study author Frank Horst attributed this to several reasons, saying, “Because of the high prices of many products, some people faced financial crises, and they often stole.”

Another problem, Horst added, is the shortage of skilled workers in retail. “There is a shortage of employees in many stores today. This makes it easier for thieves, as employees indirectly prevent theft by their presence,” he said.

According to the study, the product groups targeted by shoplifters in particular are tobacco products, cosmetics and razors, energy drinks, as well as baby food and coffee, as well as meat, sausages and cheese.

She noted that most of the perpetrators are unprofessional, but at least a quarter of them operate in a gang-like manner.

German stores suffer from thefts (Shutterstock)

inventory differences

Overall, inventory discrepancies increased by 5% to €4.8 billion ($5.15 billion) in 2023, and the figure includes losses from theft by customers or employees, supply chain and service workers, as well as regulatory shortcomings such as incorrect pricing.

This also has negative effects on the German state, which has lost sales tax revenues estimated at 560 million euros ($601.6 million).

Tags: billioneconomyGermanrisestorethefts
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