Posted on 05/20/2023 5:50:57 AM PDT by E. Pluribus Unum
If we don’t fix this, will the retail industry be able to survive? There has always been shoplifting, but in the old days it was at a level that made it only a minor nuisance to the big box retailers. Unfortunately, now everything has changed.
Highly organized gangs have developed extremely sophisticated plans for how to rapidly loot our major retailers, and the best ones can be in and out in just minutes. Those goods are then resold online or in the streets, and the amounts that we are talking about are absolutely staggering. In fact, as you will see below, theft is now costing retailers in this country about 100 billion dollars a year.
This week, Target made headlines all over the nation when it publicly admitted that theft will cost it 500 million more dollars than it did last year…
Target said Wednesday that organized retail crime will fuel $500 million more in stolen and lost merchandise this year compared with a year ago.
Target’s inventory loss, called shrink, totaled about $763 million last fiscal year, based on calculations from the company’s financial filings. With the anticipated increase, shrink this year would surpass $1 billion.
Let’s do some math. 763 million from last year plus 500 million more this year equals 1.263 billion dollars. Please keep in mind that this is just one chain.
As Target CEO Brian Cornell openly admitted earlier this week, organized retail crime has become a massive problem “across the entire retail industry”…
‘The unfortunate fact is violent incidents are increasing at our stores and across the entire retail industry. And when products are stolen, simply put they are no longer available for guests who depend on them.
‘Left unchecked, organized retail crime degrades the communities we call home. As we work to address this problem, the safety of our guests and our team members will always be our primary concern.
“Keeping insurance rates down by having a lenient security policy is probably better for their bottom line.”
That might make sense for a mom and pop operation, but I would question the numbers on that for a large chain.
If they have a good well documented training system for employees dealing with shoplifters that will mitigate damages in most lawsuits.
The occasional bad incident may happen with occasional large damages but the shoplifting numbers have gotten way out of control at this point.
Retail theft is not just a crime against the store—it is a crime against the store’s customers and civilization in general.
Imagine:
This item is to be sold at a retail store only. If you have bought this online you are entitled to a full refund by federal law.
Imagine
Dear online retailing partner:
Models with a model number of R, S or RS may only sold in a retail store as per federal law. Your listing has been cancelled.
First one and even better ideas.
It is time to do what muzzies do: chop off hands and feet for theft.
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Chaos destroys all.
However, there are just some things I want to SEE for myself, to actually judge quality. Online doesn’t cut it for that (although a liberal return policy helps). Clothing material quality, fruit, vegetable and meat quality, tool and equipment quality, you name it, need to see it for myself. Of course, then you actually have to BUY the item locally to support the local store, so that it doesn’t become a very temporary online showroom. But then, that’s only for in the good areas. The downtowns and ‘hoods are a whole different problem.
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Agree. Many things must be bought in person. Fortunately, I have three -four places near me to buy good grocereies.
That’s a great quote, but it also disqualifies most of the human race throughout time. Was it Franklin that said to the lady—asking about what type of government they’d been given— “A Republic, Madame, if you can keep it.”? It’s the testimony of all history that man cannot, in fact, “keep it”.
I believe it is God who keeps us, strictly via His grace in the present age. There is some kind of interaction between principalities and powers in heavenly places and what we do on earth, but I don’t really understand it or know the parameters of responsibility. We are not the center, we are not driving history, I know that for sure.
Well stated every slacker has a so called reparations issue but it’s just a code word for no laws.
The managers of state and local government are in the arena of the pay to play.
They want to rewrite the Constitution it’s why they call it a living thing.
Socialism Marxism Communism owners are wordsmiths.
Yup. If the stores wanted to stop this they would hire security and staff the store accordingly. But they didn’t and they don’t. I just take my cues from the retail chains and try not to think about it too hard. It’s not my stuff they are stealing.
“Theft Is Now Costing Retailers in the United States About 100 BILLION Dollars a Year”
Retail Theft Is Now Costing Consumers in the United States About 100 BILLION Dollars a Year... there, fixed it ...
Please don’t ask for a federal solution.
These stores have already lost customers because:
1. The store raised prices to cover their losses of stolen merchandise. (Stores can only raise them so far. See #2)
2. The store lowered compensation for employees, making for terrible customer service.
3. The customers got sick and tired of going to the store only to find out they were out of stock because the store replenishment systems didn't send replacement items to the store since the missing items were never scanned out at the register and still show as available stock on the shelf.
IF the thief takes 5 items-—he has ZERO COST OF GOODS IN HIS INVENTORY-—
IF he sells those 5 items for $50 each-—1/3 of retail-—he has made the full $250.
AND—BETCHA HE NEVER FILES AN INCOME TAX RETURN
COSTCO DOES THAT.
Another failure of the “computer inventory system” is:
when “SUPPLY CHAIN ISSUES” kept items off the shelves—for days/weeks at a time-—there were NO purchases going thru the system-—AND NO REORDERING happening with the computers.
I have not seen PLAIN, UNLOTIONED KLEENEX at my Wal-Mart for over 18 months. OLD fashioned Kleenex-—
Cannot get a straight answer from store manager, either.
All she says is :The computer orders what has been sold-——
When I pointed out to her that Something cannot be sold if Supply wasn’t getting to them, I get a total DEER IN HEADLIGHTS look.
I also told her do NOT tell me it is on back order because other stores are selling what I want.
STUPID IS AS STUPID DOES.
Unlike most Americans, I still believe in the US Constitution as written.
Amendment 4: The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated,
Interesting theory…can u expand on that? Looking to learn.
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