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Texas codified specific penalties for organized retail theft back in 2007 when the crime cost businesses an estimated $2.5 billion — but since then, the crime has only become more popular.
Shoplifting (also known as shop theft, shop fraud, retail theft, or retail fraud) is the theft of goods from a retail establishment during business hours. The terms shoplifting and shoplifter are not usually defined in law, and generally fall under larceny .
However, the National Retail Federation (NRF) said that same month that the effect of theft on retailers’ bottom lines was about the same as in previous years, with total retail shrinkage at $112 billion in 2022 (1.55% of sales), up from $93.9 billion (1.44% of sales) in 2021. External theft, including organized retail crime, represented 36% ...
Report shows theft is costing the retail industry $100 billion. ... For premium support please call: 800-290-4726 more ways ... but a growing trend of organized retail crime is now not just eating ...
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 a 2023 congressional testimony, Trevor Wagener, a chief economist at the Computer & Communications Industry Association, gave a more muted assessment, noting that organized retail crime is ...
Gas theft cost the industry $109 million in 2008 and $134 million in 2007. The average loss per store in 2009 was $761, and that figure is conservative, since it only includes reported thefts and is based on all convenience stores that sell gasoline, including those in states that mandate full-serve ( New Jersey and Oregon ) and stores in areas ...
Retailers suffered more than $112 billion in losses due to shrink last year alone, according to the National Retail Federation, putting the bust at just 0.00125% of the year's total.