But some retail analysts and researchers, bolstered by local crime statistics, say stores may be over-stating the extent and impact of theft. The National Retail Federation said that retailers’ losses, known as shrink, increased 19% last year to $112 billion, based on a survey of 177 retailers. At nine major retailers that have increasingly cited the rising impact of theft, shrink as a percentage of sales increased just 0.4% in 2022, they found. Cities and states are passing new laws with harsher punishments for organized retail crime offenses and shoplifting. According to the Chamber of Commerce, 12 states have created new statutes, revised existing statutes, or created enhanced penalties for organized retail crime.

Source: CNN October 28, 2023 12:17 UTC