And that costly picture only worsens when considering the next wave of overheads facing retailers next year revealed in the budget, including rises to both staff wages and National Insurance contributions.

While the Treasury announced it would pump over £7m into tackling retail crime over the next three years, retailers need solutions that will reduce shrinkage while boosting labour productivity now. And Harrison Retail, which produces bespoke merchandising solutions, believes it has just the ticket.

At the company’s loss prevention showroom launch last month, it displayed a range of new anti-theft shelving mechanisms designed to protect high-targeted theft items, including joints of meat, alcohol and baby milk powder, that also ease replenishment for staff.

And retailers are already getting on board, with the likes of Tesco, Sainsbury’s, Poundland, Dunelm, B&M and Home Bargains trialling solutions in stores.

“Retail shrinkage is only going from bad to worse, and there’s a tsunami of cost about to descend on retail,” said event spokesman Simon Singleton, former COO for Holland & Barrett.

“Every retailer needs to look at solutions that can prevent prolific shoplifters sweeping products, that can also improve colleague productivity,” he added. “We all share that common denominator.

“Retailers have already invested a lot in AI facial recognition, body cams, EAS gates, and Harrison Retail’s clever shelving devices are complementary to that. It’s a lower tech and more targeted solution to fix the issues.”

Name: Dual Riser

Function: Blocks the shelf front, requiring the customer to reach in and lift products

Suitable for: Large products, such whole chickens or legs of lamb

Added benefits: Customisable to different shelf heights and widths

Name: Gravity Riser

Function: Requires the customer to lift a door to access the product, deterring from shelf sweeping and seizing 

Suitable for: Baby formula, scent boosters, alcohol, coffee

Added benefits: Includes a discreet lock, which holds the door up when replenishing

Name: Pivoting Blockers

Function: Similar to the Gravity Riser, it requires the customer to lift a door to access the product, preventing multiple items being taken at once

Suitable for: Chilled drinks

Added benefits: Features airflow vents for fridges

Name: One At A Time Dispenser

Function: Requires customer to push the product down against a sprung base to remove products

Suitable for: High-value health and beauty products

Added benefits: Front blocker is removeable for easier replenishment of stock

Name: Shelf Pusher System

Function: Reduces stock loss by preventing multiple bottles from being removed at once

Suitable for: Alcohol

Added benefits: Spring-loaded pusher provides smoother replenishment of product