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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 .
[4] [5] The National Retail Federation does not classify these crimes as "flash mobs" but rather "multiple offender crimes" that utilize "flash mob tactics". [ 6 ] [ 7 ] In a report, the NRF noted, "multiple offender crimes tend to involve groups or gangs of juveniles who already know each other, which does not earn them the term 'flash mob'."
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% ...
The company took steps to secure more products after it found retail theft accounted for a rising share of shrink. However, locking products behind plastic has not proved effective, he said.
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 ...
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 $1.4 million scheme Dell and his accomplices carried out is only a drop in the bucket. Retailers suffered more than $112 billion in losses due to shrink last year alone, according to the ...