>Now the outspoken lawyer has fresh ammunition for his effort to repeal the law: The National Retail Federation earlier this month retracted its April assertion that nearly half of the $94.5 billion in merchandise that went missing in 2021 was stolen by retail rings. The true percentage was only a small fraction of that amount, about 5%.
So we're talking .1% of retail revenue. Not that I'm fond of thieves, let alone organized ones, but it does not seem an existential threat to me at this level.
I'm not sure I've ever seen a self checkout removed, even in downtown Seattle locations where everything's been locked up and security is patrolling every floor. I've seen increased surveillance and scare tactics at self checkouts but I think costco is just about the only major store left that hasn't pushed people into using almost exclusively self checkout.
That sounds like it's reporting gross revenue. Claiming that the $5B is unimportant because it's a small percentage of revenue, when it's actually gross revenue, is misleading.
Given the dubiousness of their original number, I am taking all of that with a grain of salt.
This page[0] lists the 2022 shrinkage for a few companies, and said Target was at $753M. Target is a huge national brand. Are there really ~100x more companies of Target's size experiencing equal shrinkage annually? How does the math work to get to $95B?
It's still an _absolutely insane_ amount.