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Inventory Losses

All articles tagged with #inventory losses

retail-crime2 years ago•2 min saved

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.

via USA TODAY|

#data-accuracy #inventory-losses #national-retail-federation

retail2 years ago•3 min saved

Retail Group Retracts Misleading Claim on Organized Retail Crime Losses

The National Retail Federation (NRF), a leading retail lobbying group, has retracted a key claim about inventory losses after an investigation revealed its inaccuracy. The NRF had published a report stating that nearly half of the estimated $94.5 billion lost to shrink in 2021 was attributable to organized retail crime (ORC), contradicting its own annual shrink survey. The retraction highlights the difficulty in accurately measuring the impact and source of inventory losses in the retail industry. The NRF acknowledges the challenges in gathering and analyzing data on theft but emphasizes that organized retail crime remains a serious problem. The incident raises skepticism about the reliability of industry data and reinforces the need for accurate information to inform policy decisions.

via CNBC|

#data-accuracy #inventory-losses #organized-retail-crime