“Episodes of organized retail crime fueled a panic over brazen criminality. And the shocking clips on social media were grounded by the sober reality of startling statistics.
But it turns out a key claim at the heart of the retail crime story was wrong, turning the entire ordeal into a lesson for investors, media, and readers on the importance of raising an eyebrow when something sounds… off.
And. , for the retail industry, one about crying wolf.
A prominent lobbying group, the National Retail Federation, recently retracted a widely cited estimate that “organized retail crime”
accounted for “nearly half” of the $94.5 billion in total lost merchandise in 2021.
Even at the height of the retail crime narrative, some experts rightfully cast skepticism on the claims of rampant theft. Without denying that shoplifting and orchestrated stealing were problems, they questioned how corporate execs, political leaders, and media outlets wielded those claims to advance their own agendas, whether that was to mask sinking profits, prop up a bogeyman, or fearmonger over what was portrayed as urban decay and American lawlessness.
So business leaders spewed misinformation that they should now recant. But in light of the withdrawn claim, it’s unsettling
to consider the impact of all the official statements and media coverage that were based at least in part on a gross exaggeration.”
Oh next all shoplifting will be legalized in the name of Equity. /s
The article highlights that the NRF claim has been walked back, but it doesn’t actually present data that retail theft hasn’t increased. We don’t have good data overall for that because so many retailers have given up reporting shoplifting in places where the thieves won’t be prosecuted.
What information we have does tend to suggest that retail theft is substantially higher than 2019, but we don’t rely know how much worse it is at a national or even state level. National level retailers have reported significant increases in “shrink” (theft losses) overall, and survey data of businesses reports increases in retail theft.
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“Episodes of organized retail crime fueled a panic over brazen criminality. And the shocking clips on social media were grounded by the sober reality of startling statistics.
But it turns out a key claim at the heart of the retail crime story was wrong, turning the entire ordeal into a lesson for investors, media, and readers on the importance of raising an eyebrow when something sounds… off.
And. , for the retail industry, one about crying wolf.
A prominent lobbying group, the National Retail Federation, recently retracted a widely cited estimate that “organized retail crime”
accounted for “nearly half” of the $94.5 billion in total lost merchandise in 2021.
Even at the height of the retail crime narrative, some experts rightfully cast skepticism on the claims of rampant theft. Without denying that shoplifting and orchestrated stealing were problems, they questioned how corporate execs, political leaders, and media outlets wielded those claims to advance their own agendas, whether that was to mask sinking profits, prop up a bogeyman, or fearmonger over what was portrayed as urban decay and American lawlessness.
So business leaders spewed misinformation that they should now recant. But in light of the withdrawn claim, it’s unsettling
to consider the impact of all the official statements and media coverage that were based at least in part on a gross exaggeration.”
Oh next all shoplifting will be legalized in the name of Equity. /s
The article highlights that the NRF claim has been walked back, but it doesn’t actually present data that retail theft hasn’t increased. We don’t have good data overall for that because so many retailers have given up reporting shoplifting in places where the thieves won’t be prosecuted.
What information we have does tend to suggest that retail theft is substantially higher than 2019, but we don’t rely know how much worse it is at a national or even state level. National level retailers have reported significant increases in “shrink” (theft losses) overall, and survey data of businesses reports increases in retail theft.