US:Why retail theft is soaring: inflation, the economy – and opportunity

[Social Media]

New YorkCNN — 

Retailers large and small say they’re struggling to contain an escalation in store crimes — petty shoplifting to organized sprees of large-scale theft that clear entire shelves of products.

Target last week said it was bracing to lose half a billion dollars this year because of rising theft. Nordstrom, Whole Foods and some other big chains said they were abandoning San Francisco because of changing economic conditions or employee safety. Many other retailers have blamed crime for closing stores.

It’s not clear that crime is growing significantly more serious. But as economic fears grow amid inflation and rising borrowing costs, shoplifting often comes with the territory, industry watchers say.

[riclag]

Presently bidens America imop!

 

[JustAnotherHun]

Quote

But as economic fears grow amid inflation and rising borrowing costs, shoplifting often comes with the territory, industry watchers say.

According to the newspapers, shoplifting in San Francisco was a popular sport long before the exploding inflation.

 

[Hanaguma]

Perhaps the near certainty of NOT being arrested (or shot) has something to do with it?  The flight of retail from many American downtowns kind of tells the story.   

 

If it were poor people stealing food, that would be one thing. Not great, but understandable. But this is different. It is becoming a source of steady income. 

[riclag]

On 5/24/2023 at 3:58 PM, JustAnotherHun said:

According to the newspapers, shoplifting in San Francisco was a popular sport long before the exploding inflation.

 

Crime doesn’t pay! Have to build bigger rehabilitation structures .imop

San Francisco’s Union Square Shopping Area Has Lost 17 Retailers Since 2020

 

 

“The news that Whole Foods would shut its Downtown location just a year after it opened shined a spotlight on the challenges retailers face in the once-vibrant area. Concern for the store’s staff given the rising crime and drug abuse in the area pushed the store to close”. 

https://sfstandard.com/business/union-square-stores-closing-san-francisco/

 

“But as many of you know, the dynamics of the downtown San Francisco market have changed dramatically over the past several years, impacting customer foot traffic to our stores and our ability to operate successfully”.

https://nypost.com/2023/05/02/nordstrom-closing-2-san-francisco-stores-over-deteriorating-situation/

 

Edited May 25, 2023 by riclag

[Tug]

Because they are allowed to get away with it those people deserve to spend a few months picking up trash alongside the highways high time the cops get off their rears and stop these scofflaws