WASHINGTON – An “unprecedented” level of theft cost retailers more than $112 billion when taken as a percentage of total sales in 2022, according to a survey released today by the National Retail Federation. “Retailers are seeing unprecedented levels of theft coupled with rampant crime in their stores, and the situation is only becoming more
WASHINGTON – Organized retail crime (ORC) is a big problem for the U.S. retail industry, and a new report by the National Retail Federation suggests it is getting worse. “Organized retail crime has been a major concern for the retail industry for decades, endangering store employees and customers, disrupting store operations and inflicting billions in
Shrink is a problem that’s as old as retailing, and it’s actually a number of separate issues — theft by customers (shoplifting), theft by employees, vendor fraud, operational errors and things like damage, waste and spoilage. But, as has been noted previously on this page, the shoplifting problem has increased dramatically in recent years, driven
WASHINGTON — The National Retail Federation on Tuesday applauded the inclusion of the “Integrity, Notification, and Fairness in Online Retail Marketplaces (INFORM) for Consumers Act” in year-end congressional omnibus legislation. “On behalf of the retail industry, we are extremely pleased negotiators included the INFORM Act in the omnibus package, and we look forward to passage
WASHINGTON — In a letter to Congressional leadership on Thursday, 20 top executives of leading retail companies expressed their urgent concern about the growing impact of organized retail crime on retail employees and communities across the U.S. The executives implored lawmakers to pass the INFORM Consumers Act, legislation that they say will address the problem