In the midst of a retail shoplifting crisis in the United States, electronics retail chain Best Buy is reportedly combatting in-store theft through an increase in on-floor staff members.
According to Best Buy CEO Corie Barry, the company has expanded the presence of workers across the interior of stores and cashier lanes, as well as increased security at entrances and exits.
“In certain parts of the country in particular, there is a real issue around theft and organized crime,” said Barry. “With that being said… we have not called out material impacts to our business as a result of shrink for at least the last two years.”
Meanwhile, the retail industry as a whole reported that electronics theft shrink was up 19% in 2022 from the year prior for a total $112 billion in losses.
