IN THE KNOW:
Retail Theft Costs B.C. more than One Billion Dollars
In 2023, retail theft in British Columbia cost every family $824, a hidden tax that you won’t see in our provincial budget, says Jess Ketchum, a founder of the Save Our Streets coalition.
“We estimate the annual loss due to retail shrinkage, theft and organized retail crime at over $9 billion across Canada, including more than $1.4 billion right here in British Columbia, and it’s getting more organized and more violent,” says Ketchum. “It’s like a crime tax, and it’s taking a toll on families as well as local businesses.”
Shoplifting has increased across all categories, including food, apparel and merchandise, with those costs ultimately borne by consumers. At the same time, governments across the country are losing out on $1 billion annually in tax revenues because of stolen goods.
“As companies have to replace stolen merchandise and increase security, those costs become part of the business, and all of us end up paying the price,” notes Ketchum. Even more concerning is the increase in repeat offenders, and the fact that retail theft involving violence has increased 300 per cent over the past four years, according to the Retail Council of Canada.
Since SOS was started last year, it has grown to 80 community, neighbourhood and business organizations. While some crime can be blamed on addiction and mental health issues, there’s also a growing organized criminal element that preys upon them and facilitates the crimes. In a disturbing trend, more and more stores are seeing people target specific items in an organized fashion.
“We need less talk and more action from every level of government. British Columbians can lead the way. Let’s celebrate results rather than announcements,” said Ketchum.
Source: Save Our Streets, Retail Council of Canada.
FROM THE CURRENT ISSUE OF DOUGLAS:
Tofino Kombucha Takes on Canada
For Kelsey Hendricks, brewing started as an experiment, grew into a hobby and is now a passion she wants to share with the world. Launched in 2017, Tofino Kombucha produces a certified organic kombucha with the mission to become a gateway to better health and nutrition. Many businesses think of the U.S. and overseas as export targets, but other provinces provide opportunities and a “walk before you run” approach to exporting.
Since beginning operations, Tofino Kombucha has doubled its sales and production capacity year-over-year. Now the company’s vision is to conquer Canada.
MARK YOUR CALENDAR:
Coming up:
JUNE
Jine 1-9 Ocean Week Victoria oceanweekvictoria.ca
June 4-25: Data Management & Analytics Roadshow 2024
June 5: eWomenNetwork’s Success Summit 2024
June 6: Leading to Election – Lunch with Kevin Falcon Events
June 11-13: Local Government Management Association Conference
June 12: DVBA Annual General Meeting
June 13: City of Victoria – Let’s Talk (Official Community Plan)
June 19: AI Fundamentals for Business camptech.ca/workshops
June 25: Belleville Terminal Redevelopment Project B2B Event
June 28: Business Leaders Luncheon: BC Hydro CEO, Chris O’Riley
https://www.victoriachamber.ca/upcoming-events.html
