57 Retail Theft Statistics Trends You Need To Know In 2023 Retailers large and small say they’re struggling to contain an escalation in store crimes — petty shoplifting to organized sprees of large scale theft that clear entire shelves of products. Retail giant target is reporting $400 million in lost profits, saying that “organized retail crime” is to blame. ntd spoke to vance ginn, president of ginn economic consulting and senior fellow at young americans for liberty, who said that inflationary pressures, job cuts, and local governments cutting police funds have all contributed to this type […].
Inflation Job Cuts Lowered Police Budgets Fuel Organized Retail Theft Organized retail crime operations made up of boosters — people who steal the goods — and fences — those who purchase or receive and resell the merchandise — do actually exist, and they are. Americans are starting to feel like shoplifting is becoming an epidemic. it’s becoming a mainstream worry that is contributing to fears about crime and the fate of major cities. new york city is. The study did find that some major cities, like new york and los angeles, saw spikes in retail theft amid this nationwide decline. the truth is that, although organized retail theft exists, it is not the pervasive national crisis that retail executives claim it to be. addressing it does not demand the dramatic spikes in policing and prosecution. The national retail federation estimates that retailers lost $40.5 billion to external theft, including organized retail crime, in 2022. that represented about 36% of total inventory losses.
Inflation Job Cuts Lowered Police Budgets Fuel Organized Retail Theft The study did find that some major cities, like new york and los angeles, saw spikes in retail theft amid this nationwide decline. the truth is that, although organized retail theft exists, it is not the pervasive national crisis that retail executives claim it to be. addressing it does not demand the dramatic spikes in policing and prosecution. The national retail federation estimates that retailers lost $40.5 billion to external theft, including organized retail crime, in 2022. that represented about 36% of total inventory losses. In 2019, prior to the pandemic, the centre for retail research put the total shrink at $43.3 billion, of which it said just over $4.8 billion was due to organized crime. The national retail federation had said that nearly half of the industry’s $94.5 billion in missing merchandise in 2021 was the result of organized theft. it was likely closer to 5 percent.
What To Do If You See Organized Retail Theft In 2019, prior to the pandemic, the centre for retail research put the total shrink at $43.3 billion, of which it said just over $4.8 billion was due to organized crime. The national retail federation had said that nearly half of the industry’s $94.5 billion in missing merchandise in 2021 was the result of organized theft. it was likely closer to 5 percent.
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