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The National Retail Federation’s latest report attributed 36% of the $112.1 billion in lost merchandise in 2022 to “external theft,” which includes organized retail crime.
The retail apocalypse may be happening sooner than expected. Retail store closures in America just hit the highest level since the pandemic — and are expected to rise to about 15,000 in 2025.
It’s not just Target: As far back as 2021, the Los Angeles Times noted that retail industry figures had a habit of exaggerating the impact of organized crime on retail.
The analysts noted that overall shrink — merchandise losses due to external and internal theft, damaged products, inventory mismanagement and other errors — makes up just 1.5% to 2% of ...
Retail theft is on the rise, leaving retailers grappling with how to protect their inventory without alienating customers. ... Car insurance in America now costs a stunning $2,329/year on average ...
At the time Target announced the East Harlem closure, reported petty theft incidents were down 2.5% between Jan. 1 and Sept. 24, 2023, in the area where the East Harlem store was and up 9% during ...
Operations by the California’s Organized Retail Crime Task Force, which formed in 2019, have led to 1,055 arrests and the recovery of more than $7.8 million worth of stolen merchandise, the ...
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.