Retail shrink through theft continues to be a persistent and intensifying headwind for retailers globally. Retailers have increasingly been impacted by a wave of shoplifting and organized retail crime (ORC) that has put a dent in their margins and has become a growing focus for the sector. Coresight Research presents developments in retail shrink and ORC in the UK, US, and Australia in November 2023. It also provides commentary on the topic from the recent earnings calls of selected retailers based in the UK, US, and Canada. Data in this research report include the scale of retail shrink losses in the US in 2022, US-based small retail businesses’ perspectives on retail theft, and theft skrinkage rate and value in the UK in 2023. Companies mentioned in this report include: Ahold Delhaize, Coles Group, Dick’s Sporting Goods, Dollar Tree, Five Below, Foot Locker, Kroger, Loblaws, and Ulta Beauty.