U.S. Chamber of Commerce says Retail Theft a ‘National Crisis' What Must be Done to Help Businesses and Consumers. The US Chamber of Commerce is demanding that Congress take action to address the rise of organized retail theft.
New York, NY
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July 25, 2022 10:00 AM Eastern Daylight Time
A video accompanying this announcement is available at:
Organized retail theft rates have spiked significantly in the past year, affecting communities across the nation. This theft is perpetrated by organized criminal rings that steal large amounts of goods from businesses of all types and sizes with the intent to resell them, particularly online. The problem is so severe that 54% of small business owners experienced an increase in shoplifting in 2021.
These crimes are not victimless. In addition to the growing number of thefts that turn violent, innocent consumers, employees, local communities, and business owners and shareholders bear the costs of rising retail theft.
What can be done, how big of an issue is retail theft in your local area, and what role can Congress play?
The U.S. Chamber of Commerce is demanding that Congress take action to address the rise of organized retail theft – arguing the issue has become a nationwide emergency.
Retailers that were already struggling to rebuild their businesses and attract customers due to the COVID-19 pandemic are “now faced with large-scale theft and looting, much of it stemming from organized crime,” Neil Bradley, the U.S. Chamber of Commerce’s chief policy officer, said.
“Retail theft is becoming a national crisis, hurting businesses in every state and the communities they serve,” Bradley added. “We call on policymakers to tackle this problem head-on before it gets further out of control. No store should have to close because of theft.”
The average large retailer lost $700,000 per $1 billion in sales as of 2020 — an increase of more than 50% over a five-year period, according to the National Retail Federation. The Chamber of Commerce called on federal and state lawmakers to take concrete steps to address the problem. Those recommendations include urging Congress to pass legislation to stop the sale of stolen goods online; pressing states to update the definition of organized retail crime and increase penalties; and encouraging law enforcement and prosecutors to hold those who engage in organized and significant retail theft accountable.
For more information, visit www.uschamber.com/retailtheft.
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