Why would theft even be a reason? Doesn’t insurance just cover the losses anyway?

Loss due to theft + anti-theft equipment in stores + insurance + security (if applicable) = Business costs due to theft.

If you lock your product inside a warehouse and put employees through searches more invasive than airport security screening when they leave losses due to theft go down sharply. Those saving can then be shared with your actual customers.

Shoplifting costs are not covered by insurance. It’s a cost that is absorbed into the business’ operations. The buck or two in portage place was losing over $100,000 a year to shoplifting.

^ That was a decade ago. I doubt the situation has improved now that Dollarama has replaced it.

It's called shrinkage, and that is at the cost of the retailer.

And even if it was something covered by insurance, it'd just mean that the cost of insurance would rise to compensate.

And if it was covered by insurance there would be a high deductible before any payout so the retailer is still out money.

It's truly a loss, loss situation.

Shoplifting
 

I worked in a pet store a few years back. The Owner of this pet store told her employees that if there was any shoplifting going on that we should not intervene. She said that her insurance and the Chain would cover the cost to Owners. Also, if we were to be robbed, we were to just cooperate. Thankfully, I never experienced a robbery. Shoplifting happened regularly. There was in store security cameras.

I saw on youtube at a fairly cheap store, a european dollar store, in Paris, they had anti theft devices on every product, a 2 euro pencil case or a 1 Euro jar had something to help prevent theft. Will that ever help here or reach that level of theft as must be over there?

Sounds like Bianca Amor's Liquidation Supercentre on Ellice Ave. When I was last in there almost everything had a loss prevention sensor on it.

I was just in Toronto and made a stop at the King & Spadina LCBO. I didn't look too hard but all of the bottles had these security caps on them. Here's a link:

https://www.lcbo.com/content/lcbo/en...ottle-lox.html

The Liquor mart thefts haven't been in the news as much since November and December, but it seemed like a good solution for them. I'm sure they've considered it, who knows, it might take a few months to roll them out.

Loss prevention devices like sensors, product cases, etc are more deterrents than actually barriers to theft. That said they cost money for the store to purchase, money to use and the store will still lose product. An extreme example is when mass lawless and looting happens those devices don't stop theft. On a smaller scale a swarm like we have seen locally at the Liquor Marts would be a similar event or an evening smash and grab.

At some point the cost of loss prevention methods makes it no longer worth operating the store entirely.

It is why fulfillment centres for online ordering are so popular. It is much easier to established a secure perimeter around the products and maintain a higher level of product security. That results in real savings to the business which are either shared with the customer or absorbed into additional revenue for the company.

Saks in the outlet mall (in the suburbs) had such high theft they stopped using their own entrance. Theft is not a downtown problem.

They purposely rearranged the GT layout almost like an IKEA, and theres security up the ass... i wouldn't doubt it for even a second. Lol

I'm surprised too, usually malls with shit transit, no pedestrian infrastructure, in cold environments, practically as suburban as it gets too off Sterling Lyon... either they are risking it waiting up to 68 minutes for a getaway bus, or paying the guys at Duffys/Unicity a small fortune. I guess high risk, higher reward, but i thought they would just stick to Polo, Ellice/Sargent and all of the 'easier' places.

It seems strange Ivanhoe Cambridge let them do that. I haven't been to the Outlet Mall in a while, but isn't that a fairly major entrance to the mall from the parking lot? You'd think it would be in the terms of the lease that access needs to be maintained.

Uh or they just have a car? Do you guys think all shoplifters are homeless people or something?

Do you think all people without cars are homeless?

They've done that in Europe for years, basically need to break the bottle to get the alcohol out!