It seems as if every day there are new reports of retail thefts and the smash and grabs at stores in cities from L-A and San Francisco to Houston, Philadelphia and New York.
A new report from the National Retail Federation says organized crime rings in some of the big cities are causing millions of dollars in financial loss and causing fear among employees and customers.
You’ve heard the news this week from big box retailers like Target announcing the closing of stores in the Bay area, Portland, Seattle and in New York, saying they can’t continue to operate them because of the thefts, not only for financial reasons due to the losses, but due to the fear for their workers’ safety.
And also this week, arrests were made in a mass looting in a shopping area in Philadelphia.
The Retail Federation report says losses from so called ‘shrinkage” or theft, has been going up dramatically…to 112-billion dollars this last year.
And for some time now, every time you go into these well known big box stores like Target or Walmart or others, you see all the items that are locked up, not just electronics and medicine, but lots of just common items from deodorant to detergent.
So understandably, there are now increasing calls for passing laws to strengthen laws aimed at locking up the criminals and reversing laws that turned felonies into misdemeanors with no time in jail.
And until something is done, it looks like everyone from retailers to shoppers will be paying for the cost of these crimes.
(Photo Getty Images)