Retailers lost $112 billion in inventory in 2022, cite organized retail crime rings as main culprit
by Barnini Chakraborty, Senior Investigations Reporter
September 27, 2023 01:01 PM
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Losses from retail theft jumped to $112.1 billion in 2022 from $93.9 billion in 2021, leading retailers nationwide either to change how they do business or, in some cases, shutter their operations for good, according to a new survey released 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 dire,” David Johnston, NRF’s vice president for asset protection and retail operations, said in a statement Tuesday.
The annual survey by the trade group collected information from 177 retail brands across 28 different sectors — including apparel, jewelry, grocery, and department stores — and accounted for more than 97,000 retail locations and $1.6 trillion in annual retail sales.
https://www.washingtonexaminer.com/news/crime/retail-theft-cost-businesses-112-billion-survey
