this post was submitted on 01 Dec 2023
646 points (97.2% liked)
Technology
59666 readers
2625 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
It isn't. Or at least it isn't as big of a problem as they are letting on. https://www.retaildive.com/news/retailers-crime-problem-numbers/699107/
Shrink has hovered around 1.5% (that's 1.5% of total sales...) And the NRF has been coy about the fact that 1/3 of that shrink is "administrative" issues - lost product, mis allocated, warehouse issues, broken in transit, etc.
Additionally, a little less than a third is from employee theft, and a the remaining 36% is external theft.
But since they lump mistakes and general admin issues in with theft, they get to claim a higher number whenever they complain very loudly so that they can redirect the conversation away from the massive increase in profits they have had, along with the increase in wage theft cases they are losing, as well as trying to cover up the fact they are closing "under performing" stores in poorer neighborhoods (which not limits access to people in those locations, but the store doesn't care, they dont buy stuff anyway...).