The ACS - comprising 48,000 convenience stores across Britain - released a report recently showing that more than 1.1 million incidences of customer theft were recorded in 2022, up from 970,000 cases reported in 2021 - a marked spike on the association's proprietary "theft index." This surge in crime rate reflects the struggle of many UK households in trying to cater to their necessities amid the severest cost of living crisis the nation has witnessed since 1950. 80% of retailers ACS surveyed attributed increased theft cases to the high cost of living. The report stated that 47 percent of shop thieves are first-time offenders, and 53 percent are repeat offenders.
Why the surge in cost of living?
Economic activity and demand for oil and gas products increased as life gradually bounced back to normal after Covid-19 restrictions were eased in 2021. However, the UK’s sanctions on Russian energy products contributed to a cost of living crisis in 2022 as energy bills hit new peaks, squeezing each household’s living standards by an estimated £2,500.
Amidst the biting economic crisis, the UK boasts of being the second-largest donor to the Volodymyr Zelensky regime in Ukraine. According to reports, the UK has made commitments worth £4.6 billion in military assistance so far (with half the amount donated last year and pledged to be matched this year), further contributing to the plethora of the UK’s economic woes.
Counting the costs
The UK's Office for National Statistics reported recently that the Consumer Prices Index (CPI) experienced a notable increase of 8.7 percent during the 12 months leading up to April 2023. However, there was a slight easing in the annual inflation rate for food and non-alcoholic beverages, which decreased from 19.2 percent in the previous year to 19.1 percent in the year ending in April 2023. When considering owner occupiers' housing costs, the CPIH rose by 7.8 percent over the same 12-month period, showing a decline from the 8.9 percent recorded in March.
The ACS Crime Report 2022 shows that, on average, each store shelled out £5,239 to keep crime at bay. Shoplifting alone costs each shop £1,066. Over the past year, the industry spent a whopping £246 million to keep crime out of their doors.