--- title: "The Billion Dollar Problem Not Enough Brands Are Addressing: Shoplifting" description: "I’m going to cut to the chase: US retailers lose an estimated $121 billion per year from shoplifting. Between pilfering pre-teens and kleptomaniac employees, brands consistently lose out on significant sales due to theft." image: https://blog.charmingtrim.com/hubfs/jp-valery-mQTTDA_kY_8-unsplash.jpg --- # CHARMING INSIGHTS ##### A blog from Charming dedicated to consumer preferences, retail, and technology ### SIGN UP FOR OUR NEWSLETTER [Back To blog](https://blog.charmingtrim.com/) ###### 3 min read # [The Billion Dollar Problem Not Enough Brands Are Addressing: Shoplifting](https://blog.charmingtrim.com/the-61-billion-dollar-problem-not-enough-brands-are-addressing) Aug 3, 2021 12:17:00 PM [** share ](http://www.facebook.com/share.php?u=https://blog.charmingtrim.com/the-61-billion-dollar-problem-not-enough-brands-are-addressing&utm_medium=social&utm_source=facebook) [** share ](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.charmingtrim.com/the-61-billion-dollar-problem-not-enough-brands-are-addressing&utm_medium=social&utm_source=linkedin) [** Tweet ](https://twitter.com/intent/tweet?original_referer=https://blog.charmingtrim.com/the-61-billion-dollar-problem-not-enough-brands-are-addressing&utm_medium=social&utm_source=twitter&url=https://blog.charmingtrim.com/the-61-billion-dollar-problem-not-enough-brands-are-addressing&utm_medium=social&utm_source=twitter&source=tweetbutton&text=) I’m going to cut to the chase: US retailers[ lose an estimated $121 billion per year](https://capitaloneshopping.com/research/shoplifting-statistics/#:~:text=Retailers%20lost%20%2493.9%20billion%20in,over%2Dyear%20(YoY).) from shoplifting. Between pilfering pre-teens and kleptomaniac employees, brands consistently lose out on significant sales due to theft. More startling news: only [2% of thefts](https://capitaloneshopping.com/research/shoplifting-statistics/#:~:text=Retailers%20lost%20%2493.9%20billion%20in,over%2Dyear%20(YoY).) are ever caught.  But as an organization, you’re not powerless against shoplifting. Retailers with clear visibility into their inventory gain an advantage over companies with blurry inventory numbers. Implementing item-level tracking and an accurate inventory management system has actually been proven to [eliminate inventory shrinkage](https://flow.space/blog/what-is-inventory-shrinkage/#:~:text=On%20the%20employee%20theft%20side,can%20also%20decrease%20inventory%20shrinkage.) by up to 50%. ## The impact of item-level tracking with RFID When your organization faces a shoplifting crisis, it’s easy to feel like there’s not much you can do. And when you’re not sure whether your garments were stolen from the stock room or the sales floor, you’re even more overwhelmed.  But there’s a simple solution: RFID.  ### What is RFID? Radio frequency identification (RFID) is a powerful tool for inventory management that enables you to keep track of each item’s journey down your supply chain and onto your sales floor. RFID tags are attached to individual products, scanned with savvy hardware, and create a library of rich data for your organization. Rather than tracking your inventory by SKU, batch, or pallet, RFID gives you insights into the journey of each individual item in your stockroom.  ### How RFID can help loss prevention efforts RFID tracking comes with a long list of benefits: it’s faster than traditional tracking methods while creating the most detailed, item-level inventory data. But when it comes to loss prevention, RFID offers some big advantages. #### Inventory accuracy Line-by-line inventory counting — or worse, manual counting — come with accuracy compromises that leave some gray area in your final inventory counts. When you use RFID to count your inventory, [accuracy rises to nearly 100%](https://www.rfidjournal.com/ask-the-experts/how-accurate-can-rfid-tracking-be/).  When inventory is accurate, you can identify shrinkage much quicker. Additionally, accurate inventory disincentivizes internal theft, because team members know that higher-ups can identify that goods were stolen. #### Precision location That means that, in cases where theft or shrinkage occurs, organizations have the information they need to pinpoint the location where the shrinkage occurred. If the inventory dropped by 10% between two locations, leadership has a clear idea what went wrong. #### Data-driven insights Finally, RFID does more than just count. RFID scanners provide detailed information to RFID software, allowing organizations to understand with depth what’s occurring when their inventory drops suddenly. RFID takes out the guesswork by providing times, dates, locations, and exact products that have been removed from inventory. With these insights, teams can add security in-store, shift from one manufacturer to another, or incentivize internal theft reporting. Rather than haphazardly taking measures to solve a theft problem, teams have clear data to work from and find a solution. ## Charming Trim can help you reduce theft If [RFID](https://www.charmingtrim.com/portfolio-item/rfid/) sounds like a compelling solution to your theft problem, you’re right! And bringing RFID to life in your organization is easier than you think. To learn more about how RFID can revolutionize your inventory tracking, [reach out to our team](https://www.charmingtrim.com/contact-us). We’ll get you on the path to reducing theft and increasing accuracy and efficiency.   ###### Topics: [consumer insights](https://blog.charmingtrim.com/topic/consumer-insights) [RFID](https://blog.charmingtrim.com/topic/rfid) ![CHARMING STAFF](https://cdn2.hubspot.net/hubfs/507386/CLEAN-images/lazy-imgs/lazy-img-200x200.png) #### Written by [CHARMING STAFF](https://blog.charmingtrim.com/author/charming-staff) ###### [** Previous Post](https://blog.charmingtrim.com/consumer-buying-behaviors-and-expectations-have-forever-changed-the-face-of-retail) [![Consumer behaviors are changing the face of retail](https://cdn2.hubspot.net/hubfs/507386/CLEAN-images/gfx/feat-img-temp.jpg)](https://blog.charmingtrim.com/consumer-buying-behaviors-and-expectations-have-forever-changed-the-face-of-retail) ###### [CONSUMER BUYING BEHAVIORS AND EXPECTATIONS HAVE FOREVER CHANGED THE FACE OF RETAIL](https://blog.charmingtrim.com/consumer-buying-behaviors-and-expectations-have-forever-changed-the-face-of-retail) ###### [Next Post **](https://blog.charmingtrim.com/why-nearshoring-is-a-game-changer-when-it-comes-to-creating-supply-chain-resilience) [![TOP 5 BENEFITS OF NEARSHORING](https://cdn2.hubspot.net/hubfs/507386/CLEAN-images/gfx/feat-img-temp.jpg)](https://blog.charmingtrim.com/why-nearshoring-is-a-game-changer-when-it-comes-to-creating-supply-chain-resilience) ###### [WHY NEARSHORING IS A GAME CHANGER WHEN IT COMES TO CREATING SUPPLY CHAIN RESILIENCE](https://blog.charmingtrim.com/why-nearshoring-is-a-game-changer-when-it-comes-to-creating-supply-chain-resilience) ### Featured ### Posts by Tag - [sustainability (24)](https://blog.charmingtrim.com/tag/sustainability) - [DPP (20)](https://blog.charmingtrim.com/tag/dpp) - [RFID (14)](https://blog.charmingtrim.com/tag/rfid) - [digital product passport (DPP) (13)](https://blog.charmingtrim.com/tag/digital-product-passport-dpp) - [Charming.Digi (12)](https://blog.charmingtrim.com/tag/charming-digi) - [supply chain (7)](https://blog.charmingtrim.com/tag/supply-chain) - [Events (6)](https://blog.charmingtrim.com/tag/events) - [Labels (6)](https://blog.charmingtrim.com/tag/labels) - [Laws (6)](https://blog.charmingtrim.com/tag/laws) - [consumer insights (5)](https://blog.charmingtrim.com/tag/consumer-insights) - [circularity (4)](https://blog.charmingtrim.com/tag/circularity) - [Apparel (3)](https://blog.charmingtrim.com/tag/apparel) - [Certification (3)](https://blog.charmingtrim.com/tag/certification) - [PFAS (2)](https://blog.charmingtrim.com/tag/pfas) - [Tariffs (2)](https://blog.charmingtrim.com/tag/tariffs) - [brand (2)](https://blog.charmingtrim.com/tag/brand) - [digital labeling (2)](https://blog.charmingtrim.com/tag/digital-labeling) - [nfc (2)](https://blog.charmingtrim.com/tag/nfc) - [Cost Cutting (1)](https://blog.charmingtrim.com/tag/cost-cutting) - [Global Sourcing (1)](https://blog.charmingtrim.com/tag/global-sourcing) - [In Plant Printing (1)](https://blog.charmingtrim.com/tag/in-plant-printing) - [Nearshoring (1)](https://blog.charmingtrim.com/tag/nearshoring) - [QR (1)](https://blog.charmingtrim.com/tag/qr) - [Regulations (1)](https://blog.charmingtrim.com/tag/regulations) - [Smart Packaging (1)](https://blog.charmingtrim.com/tag/smart-packaging) - [Traceability (1)](https://blog.charmingtrim.com/tag/traceability) - [heat transfers (1)](https://blog.charmingtrim.com/tag/heat-transfers) [See all](https://blog.charmingtrim.com/the-61-billion-dollar-problem-not-enough-brands-are-addressing#) ### Sign up for updates       [![](https://phosphor.utils.elfsightcdn.com/?url=https%3A%2F%2Fmedia.licdn.com%2Fdms%2Fimage%2FC560BAQEd_tlSQ08hRw%2Fcompany-logo_400_400%2F0%2F1630582539667%2Flowatag_logo%3Fe%3D1718236800%26v%3Dbeta%26t%3DZeKKPX2ZDL-3Ux9DxbsvPBBBtRRimqt-_glUlzjiTHY) ](https://www.linkedin.com/company/charmingtrims/) [/CHARMING ](https://www.linkedin.com/company/charmingtrims/) 5 days ago Big news alert! CIRPASS - Digital Product Passport has just announced this week that the implementation of the DPP for apparel and retail is officially set for 2027. 👇Take a look at the roadmap document below, feel free to download and share it with your connections in the apparel and retail industry. There's important work ahead of us! [#dpp](https://www.linkedin.com/feed/hashtag/dpp/) [#traceability](https://www.linkedin.com/feed/hashtag/traceability/) [#circularity](https://www.linkedin.com/feed/hashtag/circularity/) ‍‍‍‍ Read more ![Big news alert! CIRPASS - Digital Product Passport has just announced this week that the implemen...](https://phosphor.utils.elfsightcdn.com/?url=https%3A%2F%2Fmedia.licdn.com%2Fdms%2Fimage%2FD4E1FAQFPMsqPHqqdPQ%2Ffeedshare-document-cover-images_1920%2F0%2F1709886179396%3Fe%3D1710928800%26v%3Dbeta%26t%3DVjwku_vfYE4RNUJqUQ8KQviVxt-lJjcv-Cb8yqIIVNI)   [  17 ](https://www.linkedin.com/posts/charmingtrims_roadmap-dpp-activity-7171784411384922113-GXK1?utm_source=share&utm_medium=member_desktop)   Share [![](https://phosphor.utils.elfsightcdn.com/?url=https%3A%2F%2Fmedia.licdn.com%2Fdms%2Fimage%2FC4D0BAQHdBeqQFyaSAA%2Fcompany-logo_400_400%2F0%2F1668530079764%2Fcirpass_dpp_logo%3Fe%3D1718236800%26v%3Dbeta%26t%3DttDuHIpXb7ixWDtZkArJ3QTZBxu4hG6I822Qv-GT8Is) ](https://www.linkedin.com/company/cirpass-dpp/) [CIRPASS - Digital Product Passport ](https://www.linkedin.com/company/cirpass-dpp/) March 1 The CIRPASS - Digital Product Passport final event is just around the corner! Have you registered already? No? 😱 Make sure to save your spot now > [https://lnkd.in/dVwEe2EZ](https://lnkd.in/dVwEe2EZ) 🗓The event will start at 9h30 CET - (5 March 2024) Consult the full event agenda > [https://lnkd.in/d-U3Zqra](https://lnkd.in/d-U3Zqra)  🔗 𝗟𝗶𝘃𝗲𝘀𝘁𝗿𝗲𝗮𝗺 𝗹𝗶𝗻𝗸 𝗮𝘃𝗮𝗶𝗹𝗮𝗯𝗹𝗲: On the day of the event, you will be able to connect on this link > [https://lnkd.in/gEZs3XiX](https://lnkd.in/gEZs3XiX) ❓❓𝗟𝗶𝘃𝗲 𝗤&𝗔 𝘁𝗵𝗿𝗼𝘂𝗴𝗵 𝗦𝗹𝗶𝗱𝗼 During the event, we will be conducting the Q&A sessions exclusively through Slido. Ask your questions to the experts on this link > [https://lnkd.in/gtgJ5bek](https://lnkd.in/gtgJ5bek) ------- Battery Pass Commissariat a l'Energie Atomique et aux Energies Alternatives, CEA-List, SLR Consulting, Fraunhofer-Gesellschaft, Wuppertal Institute for Climate, Environment and Energy, Chalmers Industriteknik, VDE, DKE, +ImpaKT Luxembourg S.à.r.l, F6S Innovation, GS1 in Europe, Politecnico di Milano, circular.fashion, DIGITALEUROPE, EIT InnoEnergy, Delft University of Technology, TalTech – Tallinn University of Technology, Veltha, Energy Web, Bundesanstalt für Materialforschung und -prüfung , SyncForce, Innovalia Association, Textile Exchange , Responsible Business Alliance, Worldline, RISE Research Institutes of Sweden, iPoint Systems, Global Electronics Council, Avery Dennison, Global Battery Alliance, Global Textile Scheme GmbH Read more ![The CIRPASS - Digital Product Passport final event is just around the corner!Have you registered ...](https://phosphor.utils.elfsightcdn.com/?url=https%3A%2F%2Fmedia.licdn.com%2Fdms%2Fimage%2FD5622AQEV3zB6tmtO2w%2Ffeedshare-shrink_2048_1536%2F0%2F1709204357535%3Fe%3D1713398400%26v%3Dbeta%26t%3DhN0m0YNqMucwkHl8h5b911OBhB2H3ywNZaNCcIaNoV0)   [  11 ](https://www.linkedin.com/posts/charmingtrims_the-cirpass-digital-product-passport-final-activity-7170689287410171904-qGbS?utm_source=share&utm_medium=member_desktop)   Share