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Bensalem’s post-pandemic theft rate aligns with a trend seen across Pennsylvania, where retail theft reports are up 30% statewide, McVey said. Suspects are also becoming more brazen, he said.
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.
Preventing retail theft before it happens — it sounds like a fairy tale, but artificial intelligence could make it a reality. Videos and images of organized "smash-and-grabs" at stores and malls ...
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% ...
According to the National Retail Federation's (NRF) National Retail Security Survey, retail shrink was a nearly $100 billion problem for the industry as of 2021, the last year data was collected ...
A uniformed retail loss prevention employee for Target. Known as a Target Security Specialist . Retail loss prevention (also known as retail asset protection) is a set of practices employed by retail companies to preserve profit. [1] Loss prevention is mainly found within the retail sector but also can be found within other business environments.
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 ...
Research published by global retail analyst IHL Group in 2019 suggests that the so-called retail apocalypse narrative was an exaggeration, with "more chains that are expanding their number of stores than closing stores.” [7] That year, retailers in the United States announced 9,302 store closings, a 59% jump from 2018, and the highest number ...