Co-op’s financial loss from shoplifting is estimated at £39 million for the first half of the year, increasing by 19% from last year.
- Matt Hood, Co-op’s managing director of food, highlights the significant mental and physical wellbeing impact on staff due to shoplifting.
- Security investments by Co-op include £27 million on security and £5 million on fortified kiosks to deter theft.
- Despite high levels of crime, recruitment at Co-op remains unaffected, with people still eager to join the workforce.
- Crime rates in Co-op stores have surged by 44%, with a notable increase in violence and abuse incidents by 35%.
In the first half of the year, Co-op has faced an increase in shoplifting activities, leading to financial losses estimated at £39 million, which marks a 19% rise compared to the previous year. Despite this substantial monetary loss, the focus has shifted to the more profound impact on staff wellbeing.
Matt Hood, Co-op’s managing director of food, underscores that the physical and mental health of colleagues is a greater concern than the financial losses incurred. As Hood states, “It just fundamentally shouldn’t be part of their job,” indicating the undue burden placed on employees facing brazen shoplifting incidents on a daily basis.
In response to escalating crime, Co-op is making substantial investments in security measures. The company allocates £27 million annually towards security personnel and an additional £5 million for fortified kiosks. Furthermore, £3 million is dedicated to enhancing store safety through new CCTV systems, AI technologies, and other innovative solutions aimed at preventing theft.
Although crime rates have reached unprecedented levels, peaking alongside a 20-year high in UK shoplifting, Co-op’s management reports that recruitment remains robust. Hood confidently states, “We are a business that people want to be part of,” reflecting the organisation’s resilience and positive workplace reputation despite these challenges.
The gravity of the situation is further evidenced by statistics presented to the House of Lords Justice and Home Affairs Committee, where a 44% increase in crime within Co-op stores was reported. Of even greater concern is the 35% rise in violence and abuse incidents, underscoring the urgent need for comprehensive security measures and support for affected staff.
While the financial implications of shoplifting are considerable, the primary concern remains the wellbeing and safety of Co-op staff members.
