Organized crime rings in New York, San Francisco, Los Angeles and Houston are targeting retail inventories, causing more financial loss, according to a NRF report.
In 2022, inventory “shrink” as a percentage of total retail sales accounted for $112.1 billion in losses, up from $93.9 billion in 2021,“Retailers are seeing unprecedented levels of theft coupled with rampant crime in their stores, and the situation is only becoming more dire,” said NRF Vice President for Asset Protection and Retail Operations David Johnston.
Target and Kroger, as well as dollar stores, have sounded caution over increasing inventory theft and organized retail crime that could worsen this year’s headwinds from weakening consumer demand.Dollar Tree has said it plans to remove goods like men’s underwear, an item most prone to retail theft, from its stores.
Even Britain is seeing more instances of shoplifting with the fashion chain Primark stepping up spending on security guards, CCTV and equipping staff with body cameras to try and combat in-store theft.
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