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Walgreens CEO says anti-shoplifting strategy backfired: 'When you lock things up…you don't sell as many of them’ (fortune.com)

submitted 9 hours ago by ByteOnBikes@slrpnk.net to c/nottheonion@lemmy.world

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[–] esc27@lemmy.world 46 points 4 hours ago

Despite all the effort spent prosecuting it, there's virtually no concrete evidence that retail theft — organized or otherwise — is on the rise. Data on retail theft provided to law enforcement and lawmakers comes exclusively from corporate retailers, or organizations funded by them, and is not independently vetted. Last year, the National Retail Federation was forced to retract its claim that organized retail theft cost its members "nearly half" of the $94.5 billion in lost inventory in 2021. One researcher put the actual figure closer to 5%.

https://www.businessinsider.com/americas-war-organized-retail-crime-target-cvs-victorias-secret-2024-9