Inflation of Retail Theft and American Shoplifting Crisis
Theft, labor hit Dollar Tree pro
By Emma W. Thorne, Editor at LinkedIn News
Updated 8/25/2023
Dollar Tree is feeling the effects of increasingly price-conscious consumers, the chain revealed Thursday as it released its second-quarter results. Amid high prices on everything from food to gas, the discount chain’s customers are buying fewer discretionary items and sticking more to the essentials — a problem that also hit Target, Home Depot and a number of other major retailers last quarter. Widespread retail shrink also added to Dollar Tree’s unfavorable profit forecast for the rest of the year; the company announced it will start putting some items in locked cases, and removing others from stores completely.
- Also this week, the company entered into a settlement with the U.S. Department of Labor to fix safety violations at all 10,000 Dollar Tree and Family Dollar stores nationwide.
15h • Edited • 15h • Edited •Follow
America’s dollar store chain cut its annual profit forecast and saw its margins weaken in the second quarter from higher costs, retail shrink and a shift in consumer spending towards lower-margin consumables, triggering an 11% drop in its shares.
Dollar Tree, which sells most of its products at a starting price of $1.25, said the changing consumer purchasing behavior reflected the current macroeconomic environment, as the low- and middle-income groups come under pressure from inflation and higher borrowing costs. Reuters
#dollarstore #discretionary #inflation #consumers
Dollar Tree forecasts tepid annual profit on costs, pivot to spending on essentials
21
- 2 comments
- 3 reposts
15h • Edited • 15h • Edited •Follow
Keeping an eye on retail. More sticky inflation – Today hammering Dollar Tree stock (which, by the way, should probably be called dollar and a quarter tree). It’s the consumer, it’s inflation, it’s the economy. Shares of Dollar Tree fell on Thursday and hit a 52-week low, after the retailer said customers’ shopping lists have largely narrowed to food and necessities. The discounter joins a growing group of retailers catering to consumers who have become more price-sensitive and selective about spending. Macy’s and Foot Locker also reported this week that sales have been hit as customers largely skip over discretionary items, as they deal with rising interest rates and juggling daily expenses.
Dollar Tree’s shares sink, as CEO says ‘challenging’ economy is pressuring discounter
5
- 3 comments
16h • 16h •Follow
Traditional retailers are caught between behemoth Amazon on the digital side…..and determined armies of organized-crime shoplifters on the other side. No wonder there’s so much vacant retail space out there.
Dollar Tree adding locked cases, removing items from stores amid rising theft costs
finance.yahoo.com • 2 min read
- 5 comments
Brooke DiPalmaBrooke DiPalma• 3rd+• 3rd+Reporter at Yahoo FinanceReporter at Yahoo Finance
1d • 1d •Follow
👩🎓 👨🎓 Student loan repayments returning could hit some of America’s biggest retailers and food giants. I broke down the impact in my latest for Yahoo Finance
⁉ What companies have the most exposure?
❓ How are C-Suite execs are preparing for it ?
💸 Just how many Americans is this issue impacting?
➡ Find out here: https://lnkd.in/eEYsXb-b
Huge thanks to my editor Grace O’Donnell! Shoutout to the multiple execs, analysts and experts that shared insight for this.
Do you plan to spend less when student loan payments return?
#college #studentloans #retailers #food
America’s retailers and restaurants brace for a shock from student loan payments
finance.yahoo.com • 5 min read
- 2 comments
- 1 repost
1d • 1d •Follow
In recent months, dollar stores have seen skyrocketing foot traffic. According to data from Gravy Analytics – Real-World Location Intelligence, Five Below is the dollar store seeing the most impressive growth in YoY foot traffic: 63%.
So, what could be impacting consumer foot traffic to stores like Five Below, Dollar Tree, and Family Dollar, and what can these trends reveal about consumer behavior in 2023? 🤔
The Dollar Store Phenomenon: A Look into Foot Traffic and Consumer Behavior in 2023
gravyanalytics.com • 5 min read
1d • 1d •Follow
Chart of the Day – US consumer
Earnings are still ongoing believe it or not. This week is particularly heavy for retail and consumer discretionary stocks that are reporting post the back to school spending that we got at the end of the summer
I am old enough to remember the retail sales number on August 15 that was much better than expected and got the mkt so excited about a soft landing, or even no landing, that it began to worry about more rate hikes
However, as we get thru the earnings reports from the companies selling into the US consumer, the picture seems to be a little different. I have put a collection of companies that have reported in the chart today
You can see that basically all of them are lower over the last year, some of them sharply so. The one that had been doing the best was Dick’s, but it had a shocker yesterday, dropping 30%. Sales are down. Even scarier, they say theft was up
Today Foot Locker, used to be a big place for back to school, said trends are negative, so negative they are cutting their dividend. The chart isn’t even picking up the 20% fall in pre-market
It isn’t just back to school. It is across the board. Best Buy, Target, Macy’s, VF Corp, AMC Entertainment. Nothing but negative news on the trends they are seeing from the consumer. Macy’s also pointed to the ‘shrinkage’ though it also sounds like more theft than it is damaged goods etc.
This on the back of a bigger story last week where Gump’s in San Fran is talking about closing after 166 years because of the very negative environment for retail in that city. It seems they are not alone out there
The consumer came into the year with a lot of savings. However, we are working thru those savings. In addition, we are seeing mortgage rates eat more, gasoline prices eat more, and soon, student loan debt needing to be repaid
Perhaps people are doing all of their spending at Amazon though we don’t hear as much about rapid market share gains. Perhaps all of the money is being spent in restaurants. Who cares about the kids going to school, Mom & Dad need a good meal and a glass of wine!
We can find a number of reasons to explain away what we are seeing. If it was one or two names, I think we can say that those companies might be just losing share or out of touch. There is certainly some of that
However, when you hear the same thing across a number of retail names, across a wide range of product or services, we have to start to think there is a bit of a bigger issue. Definitely something to monitor
Of course, the market today will only care about Nvidia, which has become an asset class in its own. I will leave that to others to discuss
Stay Vigilant
#markets #investing #retail #economy #stayvigilant
Activate to view larger image,
Activate to view larger image,
39
- 2 comments
- 1 repost
2d • 2d •Follow
Watching consumer spending is important. Obviously some worry points in here. Bikes are in an interesting position as both discretionary and experiential. Our data showed a slight slowdown in July. The issues around organized retail crime are hitting ecommerce too, that gets lost in the high profile coverage of big retail theft events.
Macy’s, Dick’s, and Lowe’s are sounding alarms on US shoppers
2d • Edited • 2d • Edited •Follow
I am now almost two weeks into the new “school year” with my kids. I know other schools around the US are still starting but consumer spending is much lower than expected. A recent report by Circana suggests while US retail spending increased 2% in July, consumer purchasing is down by unit sales. Consumers are buying essentials but not discretionary general merchandise as spending declined by 7% in unit sales in July. For the first week of August with back-to-school shopping at its peak, discretionary general merchandise spending was down 5% from last year. Why is this important now?
Back to school is a major indicator of how consumers will respond to the holiday season. Forbes reported Deloitte is predicting a 14% decline in clothing and accessories for back to school while prioritizing essentials. For the first time in a long time, we may see holiday sales down but consumer spending up for basic necessities. What can you do to prepare?
Last year, the holiday season started early (close to Labor Day). We need to start thinking about the holiday season as a much longer season to support the consumer. The Federal Reserve Bank of New York reported Americans hit a record $1 trillion in credit card balances. Consumers will not be spending like they did last year. Unfortunately, they do not have the same spending power. I expect consumers to spend more time browsing and finding the best value. For example, promotions should be longer for bigger purchases. If a consumer wants to save and wait for the best deal on a bike for their child, promotions will need to be longer so the consumer has time to make the purchase. One-day sales like a Cyber Monday deal are great but for smaller purchases or to close out the ongoing promotion from earlier in the season.
I recommend reviewing your promotional calendar now and creating ongoing promotions to keep the consumer interested in your product or service. Expect higher bounce rates and lower conversion rates but give yourself more “time” by expanding the holiday season. There isn’t a rule that the holiday season can’t start now. After all, Starbucks hinted at pumpkin spice returning this week. The holiday season is here whether we like it or not. #holidayshopping #holidayseason #affiliatemarketing
39
- 3 comments
2d • Edited • 2d • Edited •Follow
My contrarian take on consumer spending and retail. 🛍
While the consumer may not see discretionary spending as a top priority right now, traffic trends and performance in key categories this earnings season suggest they are warming up to spending on goods again.
Perhaps just in time for the holidays???
All in, sales trends at retail stores weren’t horrible given the narrative that spending is only occurring on events and experiences. Encouragingly, margins held up well this past quarter. Improvements in inventory levels, supply chain costs, and higher prices were a benefit, despite the shrinkage problem (interesting timing on this call out, no?).
Several CEOs cautioned that the persistency of inflation is weighing on the consumer. That issue is unlikely to go away, but what we saw this quarter was that if the retailer has the right product, at the right price and / or is offering it in a compelling environment, the consumer will spend money.
Ultimately, if the consumer feels they are getting the maximum value for the dollars they are spending they will shop. Beauty, Stanley cups, value priced goods, etc have demand.
With many big events riding off into the sunset as the year closes (looking at you Taylor, Beyonce and Barbie), the consumer could shift their spending to gifting this holiday season. The winners will be the retailers with the right product in place.
#retail #consumer #spending #investing #money
- 2 comments
Walmart warns of shoplifting crisis
The Curse of the Dollar as Name for a Store
Dollar General© Dollar General
- A Dollar General employee is facing charges following an armed robbery that left the suspect dead.
- The employee, Rafus Anderson, told police it was the sixth attempt at the store since August and that he feared for his life.
- Anderson was released Tuesday with no bail.
A Dollar General employee in Louisiana has been charged with manslaughter after police say he shot and killed a would-be armed robber at his store in Monroe, Louisiana.
According to the police report, Rafus Anderson was working at the Dollar General in downtown Monroe on Monday when an armed suspect robbed the store. Police say Anderson fired a shot that hit the suspect and another customer as the suspect fled the store.
Police responding to the shooting found the suspect north of the store “lying in the money he had just robbed the store of,” according to the report. The suspect later died from the injury.
Dollar General did not immediately respond to Insider’s request for comment.
After closing the store, Anderson turned himself in to authorities, according to the report.
He told police it was the sixth attempted armed robbery at that location since August, including four successful robberies, and that he was afraid the suspect was going to kill him.
Anderson was released Tuesday with no bail and was scheduled to appear in court Wednesday.
A 2020 investigation from the New Yorker and ProPublica found that dollar stores are a frequent target of armed robberies, owing both to their locations in typically less-affluent neighborhoods and their reliance on physical cash for transactions.
“In a lot of these areas, they’re the only stores around,” reporter B. J. Bethel, of the local NBC affiliate in Dayton, Ohio, told the outlet at the time. For robbers, he added, “it’s the only place to get cash.”
More than 85 shooting incidents occurred in 2022 at or near businesses with the word “Dollar” in the name, according to a database maintained by the Gun Violence Archive.
Discount retailers like Dollar General, Family Dollar, and Dollar Tree are opening more new stores than any other retail category in the US as Americans change their spending habits. Dollar General led the pack by a wide margin with more than 1,000 new stores, according to data from Coresight Research.
Share
By Theunis Bates, Editor at LinkedIn News
Updated 1 hour ago
A sharp rise in shoplifting at Walmart stores could force the retail giant to hike prices and close stores, the company warned Tuesday. Theft is “higher than what it has historically been,” CEO Doug McMillon told CNBC. He added that unless authorities take action to tackle the problem, “prices will be higher, and/or stores will close.” Walmart isn’t the only big box retailer struggling with a shoplifting surge. Target CFO Michael Fiddelke recently said that theft has jumped 50% year-over-year, costing the company more than $400 million in 2022.
Kristin Ludlow(She, her, they) out of network3rd+UXC | Sr. Product Designer | Enterprise | Lowe’s Companies, Inc.
It’s definitely do not ask associates to do more other than keep an eye out. That’s it. Confronting anyone is dangerous – and their jobs are hard enough as it is.
This is nothing new. Thieves have been slamming big box retail for decades now. People act like it’s shocking that people are as brazen to wheel out carts full of stuff, or that there would be actual rings of thieves. Nothing new at all.
Hopefully, emerging tech can provide some solutions, including addressing gaps in existing tech.
In response to
#Theft or #shrinkage has been rising in the #retail context due to a multitude of factors.
In #Target earnings call, they mentioned that inventory shrinkage reduced gross profit margin by 400million in 2022. Today, #Walmart CEO, Doug McMillon, noted that prices will rise of stores will close due to theft.
Dedicated personnel, leveraging emerging technology, industry collaboration, and regulations are way to curb the rise. I do not think it’s asking store associates to do more.
Resurfacing my thoughts on this phenomena in a Retail Touchpoints article published in Sept
(reference. https://lnkd.in/e3JVPF4G)
Walmart Prices Could Rise, Stores May Close Due to Theft, CEO Tells CNBC https://lnkd.in/eHtAvsH6
#lossprevention #shrinkage #theft
7
- 3 comments
LikeComment
RepostSend in a private messageSend
Open Emoji Keyboard
Gautham VadakkepattView Gautham Vadakkepatt’s profileAuthorAssociate Professor of Marketing| Director, Center for Retail Transformation| RETHINK RETAIL Top Retail Influencer
7h
100% agreed. I don’t know the solution, but I strongly think store associates should not be asked to do anything here (I don’t think retailers are)
Like
Kristin LudlowView Kristin Ludlow’s profile (She, her, they) • 3rd+UXC | Sr. Product Designer | Enterprise | Lowe’s Companies, Inc.
6h
Gautham Vadakkepatt I don’t think there is one solution. I finally read the article you wrote now that I realize there’s a link to get around the wsj paywall. Everything you described including remediations could be applied to situations decades ago w/ the caveat that today’s technology is much better than it used to be, but it still does not solve the issue.
There will always be thieves. AI might be the key here (and I have misgivings on the use of it). But I would not expect individuals employed at the org level or even orgs themselves to provide an elegant answer w/o finding a way to deal with this in the only effective way we can – old fashioned eyes on the workings of these gangs and working with local law enforcement to handle it. Soft & hardware will get there but for now, human minds will succeed at conniving.…see more
Angelo Burkhardt out of network3rd+Account Manager with The Intersect Group
Former big box manager here – retailers suggest employees do not confront shoplifters because of the liability they would assume if something bad were to happen. Employees would love to confront thieves as some have a high amount of respect for themselves and their jobs as well as the profit loss takes away from employees bonuses, allocated hours to work, etc…
I have seen first hand where an hourly employee confronts the thief and they have no respect or regard for the employee – physically and verbally assaulting them.
Another funny thing is when they don’t provide any measures to stop shoplifting – Corporate blames the store themselves (all employees – management included) for when they go into inventory and they are missing $100s of $1000s of dollars and people lose their jobs…Seems backwards. The amount of money a big box retailer loses could easily pay the salaries of competent guards to watch the exits.
In response to
#Theft or #shrinkage has been rising in the #retail context due to a multitude of factors.
In #Target earnings call, they mentioned that inventory shrinkage reduced gross profit margin by 400million in 2022. Today, #Walmart CEO, Doug McMillon, noted that prices will rise of stores will close due to theft.
Dedicated personnel, leveraging emerging technology, industry collaboration, and regulations are way to curb the rise. I do not think it’s asking store associates to do more.
Resurfacing my thoughts on this phenomena in a Retail Touchpoints article published in Sept
(reference. https://lnkd.in/e3JVPF4G)
Walmart Prices Could Rise, Stores May Close Due to Theft, CEO Tells CNBC https://lnkd.in/eHtAvsH6
#lossprevention #shrinkage #theft
- 2 comments
LikeComment
RepostSend in a private messageSend
Gautham VadakkepattView Gautham Vadakkepatt’s profileAuthorAssociate Professor of Marketing| Director, Center for Retail Transformation| RETHINK RETAIL Top Retail Influencer
13h
I agree! There are lot of store associates with great pride in their work and I have heard similar stories. It’s for this reason that I don’t think they should confront them. They (the store associates/ employees) are very valuable to the store experience. I also know many retailers have large loss prevention units that invest in specialized personnel and technology to prevent this. …see more
Like
Douglas ScottView Douglas Scott’s profile • 3rd+Mission Advancement
15m
Yes, they could start with limiting self check out, open more staffed checkouts and remove grandma fromnthe door checking recippts with security.
LikeReply
Kai Indigo Wolf(They/Them) out of network3rd+Data Obsessed || Software Engineer || Solutionary || Philomath || Impassioned Individual + Systems Advocate ||
Why is theft increasing? Because people are struggling more than ever to survive as prices go up and up and wages stagnate. Seems if these big corps want to help their bottom line, they should find a way to play a part in fixing the systemic issues causing the problems.
In response to
#Theft or #shrinkage has been rising in the #retail context due to a multitude of factors.
In #Target earnings call, they mentioned that inventory shrinkage reduced gross profit margin by 400million in 2022. Today, #Walmart CEO, Doug McMillon, noted that prices will rise of stores will close due to theft.
Dedicated personnel, leveraging emerging technology, industry collaboration, and regulations are way to curb the rise. I do not think it’s asking store associates to do more.
Resurfacing my thoughts on this phenomena in a Retail Touchpoints article published in Sept
(reference. https://lnkd.in/e3JVPF4G)
Walmart Prices Could Rise, Stores May Close Due to Theft, CEO Tells CNBC https://lnkd.in/eHtAvsH6
#lossprevention #shrinkage #theft
18
- 18 comments
LikeComment
RepostSend in a private messageSend
Open Emoji Keyboard
Walter HolbrookView Walter Holbrook’s profile • 3rd+YODA RETAIL CONSULTING | Provocateur | Merchant | Transformation & Change Coach | Retail Pioneer ( Mad Man Era to Present )
34m
Kai Indigo Wolf Oh please, you have no idea what shoes I have walked in. I owe you no explanation on why I don’t support criminal behavior. Your great grandparents struggled through the depression, they weren’t robbing banks. Your grandparents struggled through World War 11 , they weren’t robbing banks. If you want to help the poor, get them a job. If you want to complain about wages and benefits, you have my support. There isn’t any merit or logic in your point, stop blaming others. It’s called being self reliant, self control and being held accountable for your actions.…see more
Like
Nathaniel Meyersohn• 3rd+CNN15h • 15 hours agoFollow
Self-checkout arrived in the late 1980s at supermarkets. A decade later, it began spreading to big-box chains and drug stores.
Now, self-checkout, loved by some and hated by others, has entered discount clothing and department stores.
Kohl’s is testing self-checkout stations at a handful of stores. H&M added them at three stores and plans to roll the program out to more than 30 stores by the end of next year. Bed Bath & Beyond first tried self-checkouts at its flagship in New York City last year and has since added them to several locations. Zara has it at 20 of its largest US stores. And Uniqlo, Primark and other chains have also started to roll out self-checkout machines at some of their stores.
These retailers are beginning to adopt self-checkout for a variety of reasons, including labor savings, customer demand and improvements to the technology.
But these companies’ attempts to bring self-checkout to stores come with risks, including irritated customers and more shoplifting.
Self-checkout annoys some customers and helps shoplifters. Stores are adding it anyway | CNN Business
cnn.com • 3 min read
70
- 10 comments
- 3 reposts
LikeComment
RepostSend in a private messageSend
Open Emoji KeyboardCurrent selected sort order is Most relevantMost relevant
Frank GilbertView Frank Gilbert’s profile • 3rd+Business and Information Technology Leader. Building the people, teams, products, services and governances for a better world. Focus on Privacy, Ethics and the Cyberpsychology of it all.
13h
Sorry but let’s not blame self checkout for theft. Let’s point the finger directly where it should be pointed … the people doing the stealing. We could discuss all the reasons people are stealing … there are many … but I’d rather discuss the process by which people slide into this kind of thinking. It isn’t healthy mentally … the hashtag#ethical dilemma the folks are dealing with is self destructive.…see more
Like
Patrick HemmingsView Patrick Hemmings’ profile • 3rd+The Recruiter that Cooks
13h
My knee jerk reaction when I saw the walmart headline was that the shoplifting is likely spiking due to the increase of self checkout. Some of it I’m sure is innocent thinking you scanned something when you haven’t, but I’m sure there are plenty of instances where people use the self checkout to steal. I’d be curious what the analysis looks like for paying more humans to work the checkout vs. the amount they’re losing from shoplifting…see more
Like
1 Reply1 Reply
Flex MoadView Flex Moad’s profile • 3rd+UX Designer
5h
I’d be curious who is stealing and where those products/money is going. I don’t believe for an instant that this increase of theft is innocent. WIth everything going on in the world, I bet there’s correlation
LikeReply
Ashley AnthonyView Ashley Anthony’s profile • 3rd+*🚫 MLMS🚫INSURANCE SCHEMES* Dog/cooking/Sales & Marketing/ investing enthusiast
4h
Self checkout is not the problem. As someone who’s worked over a decade in retail; I can safely say I never worked a place with this and theft was always a huge problem. I heard from our own AP guy at JCP about stopping people who put a gun right to his face and said, “your life isn’t worth it”. Literally were going to kill him while stuffing their car full of stolen merchandise. Another story entailed 2 60 year-old women with $5,000 worth in their call from stores all up and down the strip. NONE of them had self checkout. Other employees would watch as person one walked in with a diaper bag, shoved clothes in, while person 2 served as a lookout. I was even asked to follow around thieves. Again, it IS NOT a self checkout problem. It’s a nobody is legally allowed to do anything about it problem. I guarantee if we go back to the days where you hire someone allowed to tackle, wrestle, and drag out a lowlife; it will stop.…see more
Like
Robert McDonaldView Robert McDonald’s profile (He/Him) • 3rd+Regional Sales Manager | Retail Manager | Sales Trainer | Team Development Specialist | Client Relations Specialist
11h
I understood that the industry had been loathed to address the problem meaningfully in the past because it has been the nature of retailers not to call attention to itself. Admitting to significant losses brings light to an area they would rather not have seen. It is cheaper to ride out smaller waves of theft in the hopes that it continues cyclically from area to area, moving on when it is less desirable to stay locally.
What worries retailers, and rightly so, is how organized and lightening fast gangs of thieves can overwhelm security and staff as they blitzkrieg stores. Retailers have to move fast. By playing chicken with a lack of security to save payroll dollars, they have revealed to the world that security sucks and why in retail establishments didn’t take care of it earlier.
A lack of staffing has made fine customer service no longer possible. The most palatable and the best way to drive larger baskets is engagement.
Of course, business thinks that the idea of hiring extra staff is potty and unworkable in today’s labor market.
I ask these decision-makers: how is the button to push for customer service working out for them?…see more
LikeReply
Tom F. RitterView Tom F. Ritter’s profile • 3rd+Niche podcast launches, production, strategic media partnerships, association & org member podcasting 🎙️
11h(edited)
In NYC/SF/Chi the justice-shoplifting simply never stopped after the BLM riots ended. We glorified criminals for almost two years. None of this should be a surprise. Prosecutors in major cities cant wait to help these scumbags get away with it.
Like
Jason WohlgemuthView Jason Wohlgemuth’s profile • 3rd+Network Administrator at Peterbilt Motors Company
13h
It’s definitely not disabled friendly. The height of self checkout counters is not right for many people in wheel chairs or motorized carts, and they typically can’t get close enough to reach the scanner. We encountered this recently with a family member at a Walmart and they had no actual registers open. Fortunately we were in the store with her and were able to ring her up, but if she was alone she wouldn’t have been able to.
…see more
Like
Tom ChaffeeView Tom Chaffee’s profile • 3rd+Attochron – World’s Only Carrier-Grade Optical Wireless Communications(TM)
1h
In New York City for example they will not prosecute if the theft is under $900. Friend who was a former Kohl’s employee said that people simply walk in with a shopping cart fill it up and leave and nobody is allowed to stop them. It’s this kinder gentler political world were in.
LikeReply
Richard K. HollowellView Richard K. Hollowell’s profile • 3rd+Managing Shareholder: Banking, Real Estate, Finance, Corporate & Bankruptcy Expert Testimony @ RichardHollowell.com
10h
Annoying for sure!
LikeReply
Alexander ChopraView Alexander Chopra’s profile (He/Him) • 3rd+Freelance Copywriter and Content Strategist
13h
They should offer a discount if they want me to ring up my own stuff. Who am I kidding, I’ll just order online.
Like
#Walmart Inc. could raise prices or close stores if a #lack of #prosecution for thefts under a certain level aren’t corrected over time, said Chief Executive Doug McMillon on CNBC’s “Squawk Box.” “Theft is an issue. It’s higher than what it’s historically been,” said Mr. McMillon. #Organizedretailcrime
Walmart Prices Could Rise, Stores May Close Due to Theft, CEO Tells CNBC
marketwatch.com • Subscription may be required
- 41 comments
- 3 reposts
LikeComment
RepostSend in a private messageSend
Open Emoji KeyboardCurrent selected sort order is Most relevantMost relevant
Gail Stonebarger, PhDView Gail Stonebarger, PhD’s profile (She/Her) • 3rd+Neuroscientist
11h
These complaints by big box stores are irrelevant unless the root causes of shoplifting are addressed. The average person can’t pay $200 per week for groceries for a single person, or even a couple. Of course people are disillusioned with the system; when they are working hard and still can’t afford a reasonable standard of living, why wouldn’t people simply take the things they need? “Inflation” is primarily attributed to increased corporate profits, and that is well-known at this point. Why should anyone feel loyalty to large companies that knowingly choose excessive profits over allowing people access to food and hygiene. If Walmart has taken advantage of their customers for decades, why shouldn’t the average person feel they should take advantage of Walmart? …see more
Like
22 Replies22 RepliesLoad previous repliesLoad previous replies
Christopher J. McGourtyView Christopher J. McGourty’s profileAuthorDirector of Organized Retail Crime & Law Enforcement Liaison at Ensurity – Founder of NAORCA Worldwide – The National Anti-Organized Retail Crime Assn
9h(edited)
Gail Stonebarger, PhD by allowing drug addicts and low income families to steal to make $$ so it can fund a criminal enterprise that allows sex and human trafficking to continue is worse. Do you really know what they are stealing. You say food. They are given lists of things to steal. It’s not food 😕 Gail for someone with a PHD I see you spent your life in books. Live in the real world 🌎. It will hit you at some point in your life. A piffany 🌟. You may be a Dr. but does not make you always right. Gail our country enforces laws. You break laws you suffer the consequences. Not pushing my religion on nobody. The country’s that rule by religion do much more harsher things to thieves. …see more
Like
J Leonardo P.View J Leonardo P.’s profile • 3rd+Seeking Employment opportunities email : j_leonardo_perez@hotmail.com
9h
I think we have some words to define – https://hopeforjustice.org/modern-slavery/?gclid=Cj0KCQiA7bucBhCeARIsAIOwr–ZFozL5SgwezF2IMxd9dkUPNt406IdgN6UO1Gzc4QfA3xU4jkO4okaAodfEALw_wcB
Like
Chris ZamborskyView Chris Zamborsky’s profile • 3rd+Senior Project Manager
13h
Its very simple, eliminate Self Checkout AND apprehend anyone shoplifiting. Don’t look to Authorities to do YOUR job. Sheesh
Like
5 Replies5 RepliesLoad previous repliesLoad previous replies
Christopher J. McGourtyView Christopher J. McGourty’s profileAuthorDirector of Organized Retail Crime & Law Enforcement Liaison at Ensurity – Founder of NAORCA Worldwide – The National Anti-Organized Retail Crime Assn
13h
Doug George let him catch shoplifters for a month. Will quickly understand.
Like
Doug GeorgeView Doug George’s profile (He/Him) • 3rd+Building Intuitive Experiences @ Mindsly | Building With Community | SaaS Sales Recruiter | Sharing My Journey In Tech Startups, Entrepreneurship & Wellness
12h
Christopher My thoughts exactly. Changes the perspective.
Like
Clive WhittakerView Clive Whittaker’s profile • 3rd+CISSP + Technology Sales #IworkforDell + Sales Training + Motorcycles. SIM Nerd. Solving the unsolved problems that my customers have, both now and in the future
14h
Maybe like car tag/license plate toll billing, we could use facial recognition to send a bill to their home, email, or social media account.
LikeReply
2 Replies2 RepliesLoad previous repliesLoad previous replies
Helen WallView Helen Wall’s profile • 3rd+LinkedIn [in]structor for Microsoft Power BI, Excel, Python, R, AWS | Data Science Consultant
8h
There are also contactless stores: https://www.pocket-lint.com/gadgets/news/amazon/139650-what-is-amazon-go-where-is-it-and-how-does-it-work
LikeReply
Athena Valentine LentView Athena Valentine Lent’s profile (She/Her) • 3rd+Latina Personal Finance Writer | Budgeting For Dummies out 5/3/23 | Slate Magazine Columnist | Community Builder | Cat Mom
14h
I have never heard of organized retail crime. How fascinating!
LikeReply
2 Replies2 RepliesLoad previous repliesLoad previous replies
Gail Stonebarger, PhDView Gail Stonebarger, PhD’s profile (She/Her) • 3rd+Neuroscientist
10h
hmm, the title of “organized retail crime” also seems more applicable to the rampant wage theft and union-busting among giant corporations 🤔
Like
J Leonardo P.View J Leonardo P.’s profile • 3rd+Seeking Employment opportunities email : j_leonardo_perez@hotmail.com
14h(edited)
Dozens of vehicles line up to get food boxes at the St. Mary’s Food Bank in Phoenix, Arizona, June 29, 2022. Long lines are back at outside food banks around the U.S. as working Americans overwhelmed by inflation increasingly seek handouts to feed their families.Aug 4, 2022 – Lets talk about the issues at hand which are leading to the rise of shoplefting
Like
1 Reply1 Reply
Gail Stonebarger, PhDView Gail Stonebarger, PhD’s profile (She/Her) • 3rd+Neuroscientist
11h
Thank you, for being one of the few with an empathetic grassroots approach to this issue. Sad to see how many people jump to incarceration over people having access to basic human rights.
Like
Jay SokolowskiView Jay Sokolowski’s profile • 3rd+Senior Operations Manager at PetDine LLC
10h
The Elephant in the room….
LikeReply
Suzanne RonayneView Suzanne Ronayne’s profile • 3rd+Data Management Specialist | Information Analyst | Data Administrator
10h
Or, to reduce shoplifting in a heartbeat, they could just get rid of the self-checkouts at their stores. Just a thought!
Like
Tom NapierView Tom Napier’s profile (He/Him) • 3rd+Business Development Consultant, Solving Disruption Issues in FDC’s Worldwide
13h
If the ratio between store distribution and theft losses is equal between WM and Target, then I can imagine the huge impact on their bottom line.
Like
J Leonardo P.View J Leonardo P.’s profile • 3rd+Seeking Employment opportunities email : j_leonardo_perez@hotmail.com
14h
LikeReply
#Theft or #shrinkage has been rising in the #retail context due to a multitude of factors.
In #Target earnings call, they mentioned that inventory shrinkage reduced gross profit margin by 400million in 2022. Today, #Walmart CEO, Doug McMillon, noted that prices will rise of stores will close due to theft.
Dedicated personnel, leveraging emerging technology, industry collaboration, and regulations are way to curb the rise. I do not think it’s asking store associates to do more.
Resurfacing my thoughts on this phenomena in a Retail Touchpoints article published in Sept
(reference. https://lnkd.in/e3JVPF4G)
Walmart Prices Could Rise, Stores May Close Due to Theft, CEO Tells CNBC https://lnkd.in/eHtAvsH6
#lossprevention #shrinkage #theft
Walmart Prices Could Rise, Stores May Close Due to Theft, CEO Tells CNBC
wsj.com • Subscription may be required
- 174 comments
- 19 reposts
LikeComment
RepostSend in a private messageSend
Open Emoji Keyboard
Important context on the retail environment. Shoplifting also increases 50% year over year at Target.
Rising thefts at Walmart could lead to price jumps, store closures, CEO says
cnbc.com • 2 min read
- 9 comments
- 2 reposts
LikeComment
RepostSend in a private messageSend
Open Emoji KeyboardCurrent selected sort order is Most relevantMost relevant
Keith NiccumView Keith Niccum’s profile • 3rd+Retired but busier than ever .. Senior Recruiter / Senior Sales Recruiter / Buildout Expert / High Tech – SaaS / Security Software / Mfg / Healthcare / Purple Squirrel expert with HR Generalist certification
14h
A sad statement on our population, becoming daily more void of integrity and an expressed lived out moral conscience.
Like
1 Reply1 Reply
Barbara LefleinView Barbara Leflein’s profileAuthorPresident and Owner Leflein Associates Market Research, Insights, and Analytics
13h
In part that may be – exacerbated by escalating economic hardship.
LikeReply
Thomas T.View Thomas T.’s profile • 3rd+Customer Service at Roto Rooter
7h
Get rid of self checkouts if you’re going to cry about thefts.
Like
Durenda ScottView Durenda Scott’s profile (She/Her) • 3rd+Extensive experience within insurance claims departments and the Law Department. Strong process compliance skills with the ability to motivate employees to achieve desired results.
13h
They brought it upon themselves. Bring back the cashiers – jobs in the USA
Like
2 Replies2 RepliesLoad previous repliesLoad previous replies
Malika BourneView Malika Bourne’s profile • 3rd+My e-commerce store sells fun stuff for kids with an educational twist.
5h
Vela McClam Mitchell Thomas yep. And what chronic concierge shoplifters don’t think about is that their favorite store to pilfer will close down. And many Stores are closing in some states due to “underperformance”.
How many folks felt they were worth more than what Walmart or Mac Dondlas paid? Those jobs were never supposed to support families. It is so sad, that folks priced themselves out of jobs when stores close and they have no on-sight place to shop.
I think this will force more online shopping. Those who don’t have internet access or a cell that can load an app will be out of luck for even the basics when brick-and-mortar stores become obsolete.
…see more
Like
Malika BourneView Malika Bourne’s profile • 3rd+My e-commerce store sells fun stuff for kids with an educational twist.
6h
Shoplifting is all over the place not just Walmart and Target.
Like
Durenda ScottView Durenda Scott’s profile (She/Her) • 3rd+Extensive experience within insurance claims departments and the Law Department. Strong process compliance skills with the ability to motivate employees to achieve desired results.
9h
No truer words
LikeReply
Tom NapierView Tom Napier’s profile (He/Him) • 3rd+Business Development Consultant, Solving Disruption Issues in FDC’s Worldwide
13h
If the ratio between store distribution and theft losses is equal between WM and Target, then I can imagine the huge impact on their bottom line.
Like
CNBC2,978,609 followers20h • 20 hours agoFollow
Walmart stores are grappling with a jump in shoplifting that could lead to price spikes and closures, Walmart CEO Doug McMillon said Tuesday
Rising thefts at Walmart could lead to price jumps, store closures, CEO says
cnbc.com • 2 min read
- 11 comments
- 4 reposts
LikeComment
RepostSend in a private messageSend
Open Emoji KeyboardCurrent selected sort order is Most relevantMost relevant
Durenda ScottView Durenda Scott’s profile (She/Her) • 3rd+Extensive experience within insurance claims departments and the Law Department. Strong process compliance skills with the ability to motivate employees to achieve desired results.
13h
Walmart brought it upon themselves. Bring back the cashiers
Like
1 Reply1 Reply
Monica Konarski-FusettiView Monica Konarski-Fusetti’s profile • 3rd+English Instructor & Writing Coach
53m
Yes, I am not a Walmart employee—- hate self checkout 😡
LikeReply
Sean AnglehartView Sean Anglehart’s profile • 3rd+Retired. Time to drive the wife nuts at home
7h
Didn’t California make it so that people can basically get away with stealing anything under $900 and get away with it? I know in NY when BLM riots and protests were going on, if and when they actually stopped and arrested people for stealing, they were set free… it seems criminals have more rights nowadays. Just saying
Like
1 Reply1 Reply
Malika BourneView Malika Bourne’s profile • 3rd+My e-commerce store sells fun stuff for kids with an educational twist.
5h
I believe that the laws in most states are similar. However, trespassing may be another issue for arrest – in and out of jail like a “get out of jail free” card.
LikeReply
Stephanie LunaView Stephanie Luna’s profile • 3rd+Customer Service Enthusiast
5h
While we are trying to figure out the elements that cause such a sharp increase in shoplifting, I believe one-stop shopping does not work well. Sure, it’s convenient for customers, including me, but how well does one-stop shopping truly serve the retailer, employees and the customers? The more services retailers offer, the more employees are spread thin. I get it, retailers want to improve their profit margins. When companies want to improve their sales to labor ratio and find they need to cut staff on a regular basis, everyone suffers. Employees cannot devote themselves to their customers, they suffer burnout, and customers get upset because they get bad service. Self-serve checkouts rarely work because of several issues that can arise and the customer still needs assistance from staff members. When it comes down to it, it seems we are experiencing a loosely coined phrase of retail socialism. Companies end up banking on the honest person to retrieve lost monies, caused by shoplifters, by hiking prices on items they know the honest person will buy. …see more
LikeReply
Captain Robert ThorneView Captain Robert Thorne’s profile • 3rd+Owner/Operator of Captain Thorny’s Fishing Charters on Lake Champlain/Seafood Manager at Price Chopper
10m
Smartest operator in box retail is Costco! Watch and learn. Entrance and exit must be designed with theft in mind. Guard the doors and solve the majority your problem.
I worked in retail mgmnt for over 35 yrs.
It became obvious that our biggest problem was how we designed store’s entrances.…see more
LikeReply
Mario HernandezView Mario Hernandez’s profile (He/Him) • 3rd+Senior Workday Analyst @Hopin
6h
Doug’s brilliant idea to curb shoplifting? Adding law enforcement inside of the stores and in the parking lots! Why not hire some additional employees in your stores instead of taxing an already waning police staff?
sidenote – Since 2000, Walmart has been penalized over $1.4 billion in wage theft settlements and fines. That makes them THE MOST penalized company.
This article is garbage.
…see more
LikeReply
Brian GburView Brian Gbur’s profile • 3rd+Owner, Brian’s Cleaning Solutions. I have a solution to your cleaning problems, Professional service with a smile
4h
That’s right
LikeReply
Monica Konarski-FusettiView Monica Konarski-Fusetti’s profile • 3rd+English Instructor & Writing Coach
55m
How about getting rid of self checkout to aid in cutting theft?
LikeReply
Robert PriceView Robert Price’s profile (He/Him) • 3rd+Client Account Manager at Concentis – Follow me for jobs in the mining, construction and infrastructure industries in Australia!!
13h(edited)
Good. Walmart is a terrible organization who underpay their staff, and have destroyed small businesses by price gauging all over America. I wouldn’t be one to advocate an illegal act, ……………………………………………………………………. 🙂
Like
Tom NapierView Tom Napier’s profile (He/Him) • 3rd+Business Development Consultant, Solving Disruption Issues in FDC’s Worldwide
13h
If the ratio between store distribution and theft losses is equal between WM and Target, then I can imagine the huge impact on their bottom line.
LikeReply
LinkedIn News
- 41 Big Ideas that will shape 2023Top news • 41,654 readers
- Walmart warns of shoplifting crisis1h ago • 9,304 readers
- Morgan Stanley joins layoffs rush1h ago • 17,802 readers
- Amazon may want your data — for $212h ago • 3,192 readers
- Comp sci majors face tough job market12h ago • 12,082 readers
Show moreabout:blank
- About
- Accessibility
- Help Center
- Privacy & Terms
- Ad Choices
- Advertising
- Business Services
- Get the LinkedIn app
- More
LinkedIn Corporation © 2022
Status is onlineMessagingYou are on the messaging overlay. Press enter to open the list of conversations.Compose messageYou are on the messaging overlay. Press enter to open the list of conversations
