CHARLOTTE, N.C. — Retailers that have already been hit hard by the COVID-19 pandemic are dealing with a new problem: Shoplifting.
Industry experts say it's getting out of control and store owners are having to get creative with new security features. But why has shoplifting gotten so bad since the pandemic began?
Let's connect the dots
A new Axios report shows shoplifting has gotten so bad that some national chains like Rite Aid are closing stores and sending terrified employees home.
Retailers say a lot of the uptick is due to how easy it is to sell stolen goods online.
The National Retail Federation says gangs typically steal designer clothing, laundry detergent, razors, handbags and deodorant. The NRF also reports that shoplifting losses cost companies anywhere from $700,000 to $1 billion in sales.
But retailers are fighting back by locking up high-theft items and arming more products with security tags. Retailers are also tightening return policies to crack down on stolen product returns for store credit or gift cards.
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