• bitcoinBitcoin(BTC)$85,852.005.75%
  • ethereumEthereum(ETH)$2,748.154.75%
  • tetherTether(USDT)$1.000.02%
  • binancecoinBNB(BNB)$795.574.59%
  • rippleXRP(XRP)$1.496.70%
  • usd-coinUSDC(USDC)$1.000.02%
  • solanaSolana(SOL)$117.487.19%
  • tronTRON(TRX)$0.3442010.24%
  • zcashZcash(ZEC)$1,480.612.25%
  • Figure HelocFigure Heloc(FIGR_HELOC)$1.030.00%
  • HyperliquidHyperliquid(HYPE)$92.980.52%
  • dogecoinDogecoin(DOGE)$0.09752112.16%
  • moneroMonero(XMR)$574.335.29%
  • whitebitWhiteBIT Coin(WBT)$86.394.41%
  • RainRain(RAIN)$0.0140741.51%
  • chainlinkChainlink(LINK)$12.863.80%
  • USDSUSDS(USDS)$1.000.02%
  • cardanoCardano(ADA)$0.2429086.68%
  • leo-tokenLEO Token(LEO)$8.87-0.68%
  • stellarStellar(XLM)$0.2072766.20%
  • uniswapUniswap(UNI)$8.881.71%
  • bitcoin-cashBitcoin Cash(BCH)$262.684.55%
  • nearNEAR Protocol(NEAR)$4.00-3.69%
  • Ethena USDeEthena USDe(USDE)$1.000.01%
  • avalanche-2Avalanche(AVAX)$11.02-1.01%
  • litecoinLitecoin(LTC)$62.065.59%
  • daiDai(DAI)$1.000.00%
  • CantonCanton(CC)$0.1151737.55%
  • USD1USD1(USD1)$1.000.01%
  • suiSui(SUI)$1.0112.97%
  • the-open-networkGram (prev. Toncoin)(GRAM)$1.443.39%
  • hedera-hashgraphHedera(HBAR)$0.0906925.83%
  • shiba-inuShiba Inu(SHIB)$0.0000067.97%
  • MemeCoreMemeCore(M)$1.49-0.68%
  • Global DollarGlobal Dollar(USDG)$1.00-0.01%
  • BittensorBittensor(TAO)$282.868.00%
  • crypto-com-chainCronos(CRO)$0.0637237.56%
  • paypal-usdPayPal USD(PYUSD)$1.000.02%
  • tether-goldTether Gold(XAUT)$4,344.70-0.63%
  • okbOKB(OKB)$121.893.80%
  • BitwayBitway(BTW)$0.9430.21%
  • Circle USYCCircle USYC(USYC)$1.140.01%
  • Ripple USDRipple USD(RLUSD)$1.000.00%
  • BlackRock USD Institutional Digital Liquidity FundBlackRock USD Institutional Digital Liquidity Fund(BUIDL)$1.000.00%
  • Ondo US Dollar YieldOndo US Dollar Yield(USDY)$1.150.00%
  • aaveAave(AAVE)$142.785.31%
  • OndoOndo(ONDO)$0.4440115.48%
  • EthenaEthena(ENA)$0.208630-5.13%
  • mantleMantle(MNT)$0.634.65%
  • pepePepe(PEPE)$0.00000523.39%
TradePoint.io
  • Main
  • AI & Technology
  • Stock Charts
  • Market & News
  • Business
  • Finance Tips
  • Trade Tube
  • Blog
  • Shop
No Result
View All Result
TradePoint.io
No Result
View All Result

Retail theft surges 93% since before COVID-19 pandemic

December 18, 2024
in Business
Reading Time: 3 mins read
A A
Retail theft surges 93% since before COVID-19 pandemic
ShareShareShareShareShare

The average number of shoplifting incidents jumped 93% in 2023 compared with pre-pandemic times and monetary losses for retailers have risen 90%, according to the nation’s largest retail trade group.

YOU MAY ALSO LIKE

Paramount reaches settlement with California’s Rob Bonta to clear Warner Bros. merger

Worried about the midterms? Here’s how smart investors play them every time 

With its “Impact of Retail Theft & Violence 2024” study, the National Retail Federation (NRF) is highlighting the severity of this issue. For instance, despite the continuous efforts by retailers to combat such crimes and a growing number of states that have updated their laws to prosecute organized retail crime as felonies, the number of retail theft incidents continues to climb.

According to the data from the report, conducted in partnership with the Loss Prevention Research Council, incidents have jumped 26% in 2023 from the prior year. 

“This isn’t what we were used to. This isn’t the shoplifting I was apprehending 30 years ago,” David Johnston, NRF vice president of asset protection and retail operations, told FOX Business. “These are people who are shoplifting because they know when they have an outlet to sell this merchandise to.” 

Shoplifting incidents jumped 93% in 2023 compared to pre-pandemic. Stephen Yang for the New York Post

Johnston is referring to organized retail crime groups, which resell stolen goods. 

“Not every shoplifter is going out there and selling their stolen goods online or at a flea market. They’re selling them in larger mass quantities to these local, regional or transnational organizations who are helping to feed the system,” Johnston said. 

Last year, there were an average of 177 shoplifting incidents per day, but in certain retail sectors, that number reached more than 1,000, the data showed.  

Incidents have reportedly increased 26% in 2023 compared to the prior year. Stephen Yang

“Retailers have not been crying wolf,” he said. 

Not only are the number of incidents rising, but retailers said that they are also getting more violent. About 73% of those surveyed reported that shoplifters exhibited more violence and aggression than they were a year ago. About 91% reported that these criminals are more violent and aggressive compared with 2019. 

Stores, at the behest of their corporate parents, have consistently worked to boost protection for its workers and customers. Some actions like locking items up have been successful in deterring crime, though it’s been frustrating for both stores and customers alike, Johnston said. 

Johnston suggests that the increase is from organized retail crime groups. Michael Nagle

“We’ve seen some of these locations, depending on where they are in the country, become vending machines,” Johnston added. 

Aside from measures like locking up products, about 71% of retailers have increased their budgets to support employee training related to workplace violence compared with the last fiscal year. 

Other stores, like TJ Maxx and Walmart, are testing out the use of body-worn cameras in an effort to keep employees safe.

73% of people surveyed said that shoplifters were more violent compared to last year. New York Post

While states have been ramping up their laws to crack down on such crime, Johnston said federal legislation is needed to really move the needle.

Currently, Johnston said 48 states have “created organized retail crime associations that bring law enforcement and retailers together on a regular basis to help share information and support investigations.” 

“We need the coordination between state, local and federal law enforcement to go after these organized retail crime groups, because when you dismantle one of those you then dissolve all the underlying opportunities or needs of their supply, which is the shoplifting that takes place in the stores,” he said. 

71% of retailers increased their budgets to support employee training related to workplace violence. Michael Nagle

THe NRF is advocating for passage of the Combating Organized Retail Crime Act, which is a bill that would increase federal coordination with state and local law enforcement to fight retail crime. 

Johnston said that the bill would specifically create a coordination center in the Department of Homeland Security under Homeland Security investigations. 

It brings together all the federal agencies that can work and support this type of crime, along with state and local resources, while also engaging the private sector, he said.

Credit: Source link

ShareTweetSendSharePin

Related Posts

Paramount reaches settlement with California’s Rob Bonta to clear Warner Bros. merger
Business

Paramount reaches settlement with California’s Rob Bonta to clear Warner Bros. merger

September 21, 2026
Worried about the midterms? Here’s how smart investors play them every time 
Business

Worried about the midterms? Here’s how smart investors play them every time 

September 21, 2026
Fast-food chains are chasing the specialty drink boom. Inside Sonic’s strategy
Business

Fast-food chains are chasing the specialty drink boom. Inside Sonic’s strategy

September 21, 2026
California flight attendants fight FAA plan to end state-mandated meal breaks
Business

California flight attendants fight FAA plan to end state-mandated meal breaks

September 20, 2026
Next Post
MicroStrategy’s Saylor Is Still Buying Bitcoin, Would Advise Trump on Crypto

MicroStrategy's Saylor Is Still Buying Bitcoin, Would Advise Trump on Crypto

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
Fermi Explorer co-founder talks mission to send interstellar spacecraft to neighboring star

Fermi Explorer co-founder talks mission to send interstellar spacecraft to neighboring star

September 19, 2026
Oil extends losses as Saudi Arabia reportedly offers ship-to-ship crude transfers after pipeline hit – CNBC

Oil extends losses as Saudi Arabia reportedly offers ship-to-ship crude transfers after pipeline hit – CNBC

September 17, 2026
NBC Nightly News with Tom Llamas Full Episode – Sept. 3

NBC Nightly News with Tom Llamas Full Episode – Sept. 3

September 17, 2026

About

Learn more

Our Services

Legal

Privacy Policy

Terms of Use

Bloggers

Learn more

Article Links

Contact

Advertise

Ask us anything

©2020- TradePoint.io - All rights reserved!

Tradepoint.io, being just a publishing and technology platform, is not a registered broker-dealer or investment adviser. So we do not provide investment advice. Rather, brokerage services are provided to clients of Tradepoint.io by independent SEC-registered broker-dealers and members of FINRA/SIPC. Every form of investing carries some risk and past performance is not a guarantee of future results. “Tradepoint.io“, “Instant Investing” and “My Trading Tools” are registered trademarks of Apperbuild, LLC.

This website is operated by Apperbuild, LLC. We have no link to any brokerage firm and we do not provide investment advice. Every information and resource we provide is solely for the education of our readers. © 2020 Apperbuild, LLC. All rights reserved.

No Result
View All Result
  • Main
  • AI & Technology
  • Stock Charts
  • Market & News
  • Business
  • Finance Tips
  • Trade Tube
  • Blog
  • Shop

© 2023 - TradePoint.io - All Rights Reserved!