A group of senior citizens in Melbourne have allegedly been caught buying stolen groceries from thieves operating an illegal street market out of a local carpark.

A Coles outlet in Richmond recently reported $1,000 worth of meat was stolen in one afternoon.

As a result, the store installed CCTV cameras along a nearby street to gather evidence and assist police.

What they discovered was a local carpark that had become a meeting place to trade stolen goods three times a week.

In the vision, a man can be seen selling the senior citizens stolen goods, mostly fresh meat.

"Previously, it was make-up, alcohol, razor blades," Retail Crime Prevention Australia spokesperson Sebastian Brown said.

"Now it's olive oil and meat."

Soaring meat prices have seen a spike in thefts, especially of high-end steaks and legs of lamb.

"There's gangs going in and taking bulk amounts of meat, and they're smart enough to know the good days of when the good meat comes in, and they're getting," Mr Brown said.

While the thefts have affected the supermarket's bottom line, it has been good business for Retail Crime Prevention Australia which have seen an increase in the number of stores lining up for the latest security cameras and high-tech monitors.

"They'd have the cameras at the end of the aisles, and that would view right down the aisle and you couldn't really see what people were doing," Mr Brown said.

He said retailers now try to make sure the output of CCTV cameras is clearly visible to potential thieves as they walk into the store.

The man was caught on CCTV cameras selling stolen goods, mostly meat, to senior citizens, in a Richmond carpark (Source: A Current Affair)