Why Retailers Are Spending Billions On Anti-Theft Technology

According to the National Retail Federation, retail shrink reached $94.5 billion in 2021, as compared to $90.8 billion in 2020. Shrink refers to inventory losses due to theft, unknown loss and administrative error. Retailers have characterized retail crime as an "epidemic," and the issue has prompted some of the nation's biggest companies, like Target, Home Depot and CVS, to invest billions in loss prevention and asset protection, including corporate investigators and security professionals. On the other side of the table, criminologists and criminal justice advocates worry that the story is not as straightforward as retailers and their advocacy groups are suggesting. Looking deeper, critics point out that not only is shrink difficult to track accurately, the methodology used in data gathering as it relates to retail theft is inconsistent. Chapters: 0:00 — Introduction 02:19 — Retail crime on the rise 07:02 — The data debate 15:28 — Legislation and law enforcement Produced by: Jade Tungul Senior Managing Producer: Tala Hadavi Editorial Support by: Gabrielle Fonrouge Graphics: Jason Reginato, Jade Tungul Additional sources: Retail Industry Leaders of America, National Retail Federation, U.S. Department of Homeland Security, Home Depot, Lowe’s
Thu, 16 Mar 2023 16:00:10 GMT
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