When I worked in retail for seven years during college and high school. This mess was going on when I was 18 years old. So I noticed that a lot of people shoplift but it is too many people to follow, this is probably before the camera and everything. So they would follow the minorities around the store in plainclothes security. So they would grab the low-hanging fruit. So when I worked in retail I noticed when major losses happened.. Case of stuff gone missing even before it was counted and on the floor. So most of the theft is coming from the workers. When I saw or heard of people skimming the cash register adding a quarter or dollar something to each bill so at the end of the day after your customers on the big day you may have $500 dollars to take home. According to a National Retail Federation survey, American retailers lose almost $50 billion annually to theft. Shoplifting accounts for most (36.5%) of those losses. July 19, 2018. During the pandemic retailers had 62 billion dollar problem in 2020 shoplifting. Look at the people you are giving a job most of the employees that can steal is in management and in power, not low hanging fruit. This was going on when I was in retail and it will be going on in the future.
Retail theft is surging to record highs, despite an expanded use of new technologies designed to catch thieves, according to a new survey.
Retailers’ losses due to theft, fraud, and other causes totaled nearly $62 billion in 2019, up from nearly $51 billion the previous year, said the survey, which was conducted by the National Retail Federation and the retail consulting firm Appriss Retail.
On average, these losses — which retailers refer to as shrink — represented about 1.6% of sales last year, up from 1.4% the previous year.
For a company the size of Walmart, which generated more than $514 billion in revenue last year, a 1.6% shrink rate would translate into more than $8 billion in losses. Walmart does not publicly disclose its losses due to shrink.
“Between an increase in incidents and new ways to steal, shrink is at an all-time high,” said Mark Mathews, NRF vice president for research development and industry analysis. “Loss prevention experts are facing unprecedented challenges from individual shoplifters to organized gangs to highly skilled cybercriminals.”
The survey polled a total of 69 retailers with sales volumes ranging from less than $99 million to more than $50 billion. About a dozen of the survey participants were large chains with more than 2,000 stores.
Retailers are seeing more cases of employee theft and shoplifting, survey finds
Shrink has been driven higher, in part, by an increase in theft by employees and shoplifters, according to the survey.
The retailers surveyed reported an average of 560 employee theft apprehensions in 2019, up from 323 the previous year, and 689 shoplifting apprehensions, up from 509 the year before.
The average robbery netted about $830 in losses last year, the survey found.
Another source of losses is a fraud, which can include the use of stolen credit cards, gift card scams, and the return of stolen merchandise for refunds.
Many retailers are trying to address rising cases of theft and fraud by using technology, such as artificially intelligent video systems, to identify potential problems.
Most of the retailers surveyed use burglar alarms, digital video recorders, and live customer-visible CCTV to combat losses. About 57% of survey respondents said they use point-of-sale analytics systems to combat shrink and 16% said they use video analytics.
Now you see all the people that were shoplifting and picked on this one black woman in 2014 that was a booster that has been going on for years. But where are the white rings they are out there and more effective because they are taking stuff before it hits the floor retail floor?
The sad thing is black people are called on them for having a gun. Police believe this mess.
https://youtu.be/ReArE8fU6Vk?t=149
