Retail Lobby Group Retracts Key Claim on Organized Retail Crime's Impact on Inventory Loss
The National Retail Federation (NRF) has retracted its claim that organized retail crime accounted for nearly half of all inventory losses in 2021. The NRF acknowledged challenges in gathering accurate data and removed the statistic from its report, which was conducted in partnership with K2 Integrity. The error stemmed from a misinterpretation of a quote from a former president of the Coalition of Law Enforcement and Retail (CLEAR). CLEAR stands by its estimate that organized retail crime leads to $45 billion in annual inventory losses. Retail crime data is often unclear, with shoplifting trends showing mixed results across different cities. Some experts suggest that companies may be using the focus on theft to divert attention from other challenges in the retail industry.
- Organized retail crime figure for 2021 retracted by NRF USA TODAY
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- US retail group retracts claim that half of $94.5bn inventory loss was from theft The Guardian
- DC area experiencing increase in retail theft. For small stores, it’s not just business — it’s personal WTOP
- Retail group pulls back on claim organized retail crime accounts for nearly half of inventory loss The Associated Press
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