Not just shoplifting: Here’s why companies say retail theft is such a big deal
For several years, the terms shrink, retail crime and organized retail theft have echoed from the mouths of politicians, police officers, trade groups and the country’s most prominent retail executives. Politicians and police departments have sounded the alarm about rising retail theft, and are calling for stricter enforcement and prosecution to fight it. Trade groups and retailers have griped about shrink’s effect on profits, and warned it could lead to store closures, employee-retention issues, safety concerns and reduced investment returns over time. All of these parties have urged passage of legislation they say would better equip law enforcement officials to crack down on the growing trend and catch those responsible.
What is shrink, anyway? And how does it differ from retail crime and organized retail theft? Here’s everything you need to know about the topic. Read more at CNBC.
