For small businesses, there's no easy way to fight smash-and-grab robberies

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For small businesses, there's no easy way to fight smash-and-grab robberies
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“I don’t want to continue. It’s very difficult to make a living right now,” said one small-business owner about the threat of organized theft.

has targeted retailers of all sizes, the relative impact on small businesses is substantial. Even a minor robbery can lead to a significant portion of their inventory being stolen, prompting some owners to reconsider whether to even reopen.

[The thieves] are trying to get their hands on as much product as they can, specifically during a supply chain crisis. At least three people have been arrested after a group of shoplifters robbed a California department store on Nov 21, 2021., organized retail crime resulted in an average loss of $719,548 per $1 billion in sales last year. That’s up from $703,320 in 2019, marking the fifth year in a row the figure has surpassed $700,000. In 2015, that number was just over $450,000.

For businesses looking to prevent or recover from such incidents, there are two main options: hiring security and filing an insurance claim. But both can be problematic and inadequate solutions for small businesses, since they’re often prohibitively expensive. But, the owner, who chose to be unnamed, knows all too well that it’s not just a matter of having coverage. It needs to be the right insurance coverage.

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