California has enacted sweeping legislation to combat retail theft, introducing measures that could provide significant relief for fashion retailers operating in the state. The comprehensive package, which took effect January 1st, represents the most substantial reform of its kind in the state's modern history. Key provisions include the ability...
Jan 3, 2025
A new report by the US’ National Retail Federation (NRF) has documented a concerning increase in shoplifting incidents in 2023 compared to that of pre-Covid levels. According to the organisation’s ‘The Impact of Retail Theft & Violence 2024’ study, there was a 93 percent increase in the average number of reported shoplifting incidents last year...
Dec 23, 2024
A rise in retail fraud has hit UK businesses hard in the first half of 2024, according to a recent report by payments specialist Dojo. The company's analysis of data from the National Fraud Intelligence Bureau (NFIB) reveals a staggering 545 percent increase in reported cases compared to the same period in 2023. The financial impact has been...
Aug 13, 2024
TJX Companies, the parent company of retail chains TJ Maxx, Marshalls, and HomeGoods, has begun equipping select store staff with body cameras in an attempt to reduce shoplifting while keeping employees and customers safe. During an earnings call last month, TJX Companies chief of finance John Klinger confirmed the retailer was using body...
Jun 6, 2024
Following a significant uptick in retail theft and crime, UK retailers are now calling on the rest of the region to more widely adopt laws to protect retail workers akin to those that have already been put into place in Scotland. The Protection of Workers Act was brought into force by Daniel Johnson, of Scottish Labour, and created a new...
Jan 2, 2024
A new task force launched by Mayor Eric Adams is looking to tackle the rising issue of retail theft across New York City after reported cases of shoplifting rose 44 percent between 2021 and 2022. The task force, made up of elected officials and led by deputy mayor for public safety Philip Banks III, will advise the Adams administration on...
Nov 10, 2023
Ministers, law enforcement, and retailers are collaborating to implement a robust "zero-tolerance" strategy targeting the pervasive issue of shoplifting. Law enforcement authorities, in a summit at Downing Street, will outline their plan to combat shoplifting, which occurs over 1,000 times daily. Retail industry leaders have criticized the...
Oct 24, 2023
Retail sales in September declined by 0.9 percent, while shoplifting incidents surged, with reported offenses spiking by 25 percent in the past year, totaling eight million incidents. The British Retail Consortium reported losses amounting to 1 billion pounds due to this trend. Over the year leading to June, the police recorded 365,164...
Oct 20, 2023
As the UK continues to battle on through its cost-of-living crisis, an increasingly prominent offset of the financial crunch has become front of mind for many retailers in the region. Shoplifting and retail theft is up 27 percent across 10 of the largest cities in the UK, according to the British Retail Consortium (BRC), which had been calling...
Sep 12, 2023
A report that shows the global cost of shrinkage for retailers, comprising of shoplifting, employee or supplier fraud and administrative errors, has shown a loss of 128 billion dollars. The study, called the Global Retail Theft Barometer provides data to help retailers around the world benchmark their performance against averages for specific...
Nov 11, 2014