Retail theft has caught the attention of the masses in recent years, from startling smash-and-grab videos during the depths of the Covid pandemic to corporate earnings calls where retailers like Target and Foot Locker are discussing losses from organized retail crime more than they ever have.But the effect of theft on retailers’ bottom lines is about the same as it has been for years, according to the latest data released Tuesday in the widely used industry survey conducted by the National Retail Federation.Total retail shrink grew to more than $112 billion in 2022, up from $93.9 billion the year before, according to the newest National Retail Security Survey. The metric, which accounts for various types of inventory loss including theft, damage and vendor error, generally rises as retail sales climb.While retailers and the NRF are increasingly saying crime is cutting into profits, losses from internal and external theft last year were largely on par with historical trends. They made up 65% of total shrink, the survey found.Retail shrink climbed in absolute dollars, but when reported as a percentage of sales as is commonly done, average annual shrink increased to 1.57%, up from 1.44% in 2021. The share is largely in line with past years. Average annual shrink was 1.62% of sales before the pandemic in 2019, though it was as low as 1.33% in 2017, according to previous surveys.
So, years ago gangs of thieves were filling shopping carts with merch and walking out door?Who knew?
Businesses have been pulling out of Dindu areas, white flight 2.0 but I’m sure MSNBC has a ridiculous talking point for why Dindus mobs in 2023 is one of the many successes of the Biden administration:
Bullshit article (as usual)... The crime for this kind of thing has gone up in a big way... They can spin it how they want.Only dummies buy it...
What they leave out is it's going way down in certain business(especially ones that are better at inventory tracking). And going up in urban hoods.
That’s a fair point, the survey isn’t sufficiently granular to provide that type of data. That said: The industry as a whole is not experiencing an amount of theft that’s out of line with historical trends
i=Q0wJd5QAWIoU8edoTHU AUG 3rd...
No, but most loss doesn't happen in the store, it's along the shipping chain. people cant really make a dent like that
They should repurpose those places into apartments and shove the homeless in them. Raise taxes to pay for it.
This same argument was used to not give Giuliani credit for cleaning up NYC.They said crime was going down anyway. This was true among the population as a whole but not among the Dindus that were committing most of the crimes in NYC.
https://www.tiktok.com/@_nishalee/video/7211215383381101870 . That's Target at Fordham Road in the Bx. Never have hood businesses been this locked down before. Worst than that, most of the city is starting to look like that. Normal people aren't waiting for a clerk to open 10 different display cases to do their shopping. No business wants to torpedo sales like that. Every crack head knows to just run in and grab a few $100 worth of stuff at a time because nothing will happen. It used to be pretty small time even with professional boosting crews, it's a totally different level now.
Another deluded libtard fa66ot attempting to create an alternate reality.
