As big-box retailers continue to put merchandise under lock and key to deter theft, frustrated shoppers are moving online.
Drugstores and discount retailers have made a recent push to lock up merchandise as high rates of retail theft have cut into their bottom line, Axios reported.
But these increased security measures have caused sales to drop significantly, to the tune of 15% to 25%, according to Joe Budano, CEO of anti-theft technology company Indyme.
Bloomberg reported that the anti-theft measures have had the opposite intended affect, and have driven customers from stores to do their shopping online.
"Locking up products worsens the shopping experience, and it makes things inconvenient and difficult," GlobalData retail analyst Neil Saunders said.
Walgreens reported "higher levels of shrink" in a June earnings call.
"It’s a pretty tough experience with how much is locked behind cabinets, where you have to press a button to get somebody to come out and open the cabinets for you," Amazon CEO Andy Jassy said.
According to the National Retail Federation, retail crime was responsible for $112.1 billion in losses in 2022 alone.
Organized retail crime, including gangs descending on stores, has fueled large losses for companies.
CVS spokesperson Amy Thibault said her employer uses "a variety of different measures" to prevent theft.
"Different products experience different theft rates, depending on store location and other factors, and our product protection decisions are data driven," she said.
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