Retail Theft a National Crisis: What Must be Done to Help Businesses and Consumers – ABC Action News Tampa Bay

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.

The problem is so bad that54% of small business owners experienced an increase in shopliftingin 2021 andthe 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.

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, andwhat role can Congress play?

For more information visit uschamber.com/retailtheft

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Retail Theft a National Crisis: What Must be Done to Help Businesses and Consumers - ABC Action News Tampa Bay