Tech
Why Retailers Are Spending Billions On Anti-Theft Technology
According to the National Retail Federation, retail shrink reached $94.5 billion in 2021, as compared to $90.8 billion in 2020. Shrink refers to inventory losses due to theft, unknown loss and administrative error. Retailers have characterized retail crime as an “epidemic,” and the issue has prompted some of the nation’s biggest companies, like Target, Home Depot and CVS, to invest billions in loss prevention and asset protection, including corporate investigators and security professionals. On the other side of the table, criminologists and criminal justice advocates worry that the story is not as straightforward as retailers and their advocacy groups are suggesting. Looking deeper, critics point out that not only is shrink difficult to track accurately, the methodology used in data gathering as it relates to retail theft is inconsistent.
Chapters:
0:00 — Introduction
02:19 — Retail crime on the rise
07:02 — The data debate
15:28 — Legislation and law enforcement
Produced by: Jade Tungul
Senior Managing Producer: Tala Hadavi
Editorial Support by: Gabrielle Fonrouge
Graphics: Jason Reginato, Jade Tungul
Additional sources: Retail Industry Leaders of America, National Retail Federation, U.S. Department of Homeland Security, Home Depot, Lowe’s
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Why Retailers Are Spending Billions On Anti-Theft Technology
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Producer and Reporter: Katie Tarasov
Edited by: Matt Soto, Andrew Evers
Camera: Eddie Temborski, Robert Lampe, Evan Reinhardt
Senior Director of Video: Jeniece Pettitt
Animation: Jason Reginato, Emily Park
Additional Footage: Cerebras, D-Matrix, Getty Images, Intel, Nvidia, OpenAI, SpaceX, TSMC
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Why There’s An ‘Extremely Fierce’ Battle For TSMC’s Limited Chip Manufacturing Capacity
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@Gangstalkingtactics
December 20, 2023 at 4:35 am
All gang(group) stalkers/community stalkers/ phone hackers are organized retail thieves. Community stalking: the ultimate of organized crime. They love to “flash mob” targeted individuals and publicly humiliate them. It seems like just about anyone can get put on the “targeted list” these days for no apparent reason.
@zomgosz1503
December 20, 2023 at 4:35 am
Unfortunately When the owners are flaunting cash and yachts, while paying there employees sub par wages – it's going to happen. Many Walmart employees are on government assistance because they get minimum wage. They don't earn enough to make ends meet. In addition to that, the Walmart cofounder's children and grand children own 100million dollar yachts. The employees are not going to care if someone steals a $10 item. And the thieves are encouraged to do that because they think they won't loose much money.
@user-vv7tx6gd9c
December 20, 2023 at 4:35 am
Caz democrats won’t enforce laws.
@chasemoray425
December 20, 2023 at 4:35 am
Leave it to black people to ruin it for everyone
@robertgary3561
December 20, 2023 at 4:35 am
Is this a comedy? Claiming retailers are wrong that there isn’t more theft? Claiming that refusal to arrest and prosecute theft means crime has fallen?
@AveryWinders
December 20, 2023 at 4:35 am
this was the most cnbc video i’ve ever seen
@nick4088
December 20, 2023 at 4:35 am
This show must be made by a leftist who lives in California. I'm sure crime are lower then ever. Yep. Keep telling yourself that. And it's not a national crisis. It's only on democratic states. You get what you voted for again. Stop denying it.
@tm7517
December 20, 2023 at 4:35 am
The answer to that question is yes.
@tegrity
December 20, 2023 at 4:35 am
Walmarts some of them have no1 at the regiest qt all thats tye price theyvpay
@JK-zw8ec
December 20, 2023 at 4:35 am
This cost, which is charged to all of the honest customers, is the fault of democrat voters.
@csroca17
December 20, 2023 at 4:35 am
Thanks to black community
@MollyT119
December 20, 2023 at 4:35 am
I worked for M_acy's for several years and the OCR groups outsmart the system before its ever in place. The retailers are already too late and the customer pays the price:
@hashblack
December 20, 2023 at 4:35 am
This just in its the employees really stealing😂
@luciboras
December 20, 2023 at 4:35 am
I work in retail stores. Corporations are using thefts as one of the excuse to raise prices causing inflation for more profits and ways to get consumers and government to pay for their cost. Corporations are wanting something from consumers and ways to invade consumers privacy. I worked at Jo-Ann , a white man walked up with Jo-Ann bag, packed the items and walked out the store, the managers, tell employees not to report to police. There are items misplaced in the stores, damages, and items not sold were donated. Some retailers, threw away some products. Corporate retails are to make profit, why some retail stores brand sell their product at 75% and 90% off? How are businesses able to stay in business when products at such low discount? What is it that they are not disclosing to consumers and government agencies? What are they hiding and what they are reporting to the news actually true? What gain benefits is the corporates men intending on and want from consumers and government ? Could it be another bailout, outsourcing, reducing employees pension benefits, ways for more profits, and …
@kennmossman8701
December 20, 2023 at 4:35 am
In the old days and still done in many countries is to have all the goods behind the counter – the customer had to ask. Self-service is somewhat new – started in the mid 20th century – since retailers found they could sell more – adding to their profit
@freddiehanson4469
December 20, 2023 at 4:35 am
Who Steals Irish Spring Bar Soap? Went to Family Dollar, absolutely NO bars of soap!?!
@floief
December 20, 2023 at 4:35 am
In the over 40 years I spent in retail sales I've found that much of the lost is due to the casual attitude of managers. Example: customer fulls out a pickup slip for a laptop costing $600. They take it to the register, it's processed and handed to a manager to retrieve the product from the cage. The manager enters the cage and picks up the first laptop of the correct brand they see and the customer goes home with a $2000 machine for $600. It happens over, and over, and over again and I still don't see management taking it seriously.
@YourKillingMeSmallz1
December 20, 2023 at 4:35 am
Heres a thought the government is encouraging theft so corporations have to lock stuff away now because no consequences
@Alamina5.0
December 20, 2023 at 4:35 am
Maybe cause inflation has to do a lot about it
@healthyfruit4726
December 20, 2023 at 4:35 am
The inflation is real
@joewills7582
December 20, 2023 at 4:35 am
I'm not American but I keep seeing Americans talk about a shoplifting epidemic
@kaipeng688
December 20, 2023 at 4:35 am
When you raise the bar of crime, of course there's less crime.
@devenlad
December 20, 2023 at 4:35 am
definitely a problem. Everyday people just pickup stuff from Macy's and leave
@galadrielgaladriel7375
December 20, 2023 at 4:35 am
what a shame crime goes up
not a shame rent goes up
@TreeswithFlowers323
December 20, 2023 at 4:35 am
This is so stupid. That someone will steal from home depot, they really need a screwdriver! Why they do not steal food and water? I think they're all in on it.
@sambistabeauty
December 20, 2023 at 4:35 am
Cnbcbis full of crap when they say theft is at "historic lows." I had to turn it off because it is All around us and cnbc is lying
@livierperez4391
December 20, 2023 at 4:35 am
The problem with locking everything up is that not every employee has a key to unlock the items and different employees have different keys for different items and can take a while to find the employee. Once time I had to pick up diabetes items for my aunt and it took a half hour just for an employee to arrive to unlock the items. The first 15 minutes an employee came and thought I wanted to unlock the contraceptive area but I didn’t and he didn’t have the keys to the diabetes items.
@filipandreassen794
December 20, 2023 at 4:35 am
13%
@wolfauu
December 20, 2023 at 4:35 am
That’s the result when you legalize crime. In most of these big garbage democrat cities it’s legal to steal up to $1000 of merchandise. The criminals know this. Now, that’s criminal justice reform for you. Punish law abiding citizens and protect criminals.
@Ixa90
December 20, 2023 at 4:35 am
Theft is definetly more symptomatic than it is a standalone issue better wages and a healthier financial public would definitely see lower crime
@AngryTango
December 20, 2023 at 4:35 am
Biden 2024 approves this ad 😂
@TheChrisgralnic
December 20, 2023 at 4:35 am
It’s more than just the theft . They can write off all this investment in the company , as well as artificially inflate how much the new shelves cost by creating companies that install the anti theft shelving and then inflating the cost of installation. It’s smart business
@juanyepez8068
December 20, 2023 at 4:35 am
You could tell us the leftist channel reporting about crime, and given excuses to criminals
@johnf1105
December 20, 2023 at 4:35 am
All I hear is retailers are increasing investments in security measures which will get passed down to the consumer. The customer shopping experience is less than it was before. Crime is on the rise but that doesn’t necessarily mean it’s from “organized theft”. 56% of Americans “perceive” crime is on the rise but it “may be being blown out of proportion”. The law is functioning as it should”. Maybe it’s white collar crimes. Maybe it’s their employees. The poll is possibly skewed. They show video footage of thieves breaking store from windows throughout the video. Then they start talking about how many pickle jars got dropped and how that may skew the numbers.
All I can see is retailers are feed up with the crime, big or small. They were upset before and they certainly are now. If they need to increase security and pass that cost on to the consumer then obviously they feel that it’s more profitable than the alternative. Companies are not into spending more than they have to to make a profit, end of story. The customer is the one that has to pay for their failed laws, inability to make people take responsibility for their actions and make it seems like maybe, maybe lawmaker policies aren’t as bad as it may seem. Quit screwing around and fix it. Speak softly and walk with a big stick!
@nalanl
December 20, 2023 at 4:35 am
I've noticed stores that implement the plexiglass tend to have reduced employees… Could be an excuse to cut headcount as well as reduce thefts
@curiositypiqued6573
December 20, 2023 at 4:35 am
It's bs….a red herring cover for corporate and government surveillance….perhaps instead of condemning ppl who are starving the government and those in power should invest in more concentration on benefits or wages….rather than scapegoating and persecuting ppl Already struggling thanks to "cost of living " crisis crap…..the ongoing executive narrative line is "greed not need" that continues to dominate and dictate the rhetoric….billionaire execs and corporate "trickle down" bullcrap want it this way so they have an excuse for upping prices to skyrocket aswell as have more surveillance and
@kingt9922
December 20, 2023 at 4:35 am
Because people are weak and they to scare to excersize there rights and get arms weapons😂
@tonyflags8968
December 20, 2023 at 4:35 am
How would you describe the people doing most of the retail crime?
@deadRussian824
December 20, 2023 at 4:35 am
I promise majority of your offenders arent white….
@You_are_Right_
December 20, 2023 at 4:35 am
Let’s say it’s not crime.. it’s workers dropping stuff… good grief your thought process is terrible.
@anobody3803
December 20, 2023 at 4:35 am
Look another billion dollar industry that solves no fundamental problem. Good job capitalism! Waiting for that billion dollar industry that solves world hunger and poverty
@pjb111
December 20, 2023 at 4:35 am
Murica
@dark12ain
December 20, 2023 at 4:35 am
They never talk about employee theft!! I use to see this all the time at Walmart especially when things went out of season and they sat at the back for a while. Managers would take things all the time some employees did too. Or what about all the damaged goods that come in on the trucks or that gets damaged from storing it. I use to see that every single day. Also just HIRE SECURITY since you are already spending billions
@MonkeyDelicious
December 20, 2023 at 4:35 am
Applause to states who prosecute thieves and lock them up.
@MonkeyDelicious
December 20, 2023 at 4:35 am
That's what happens when politicians make laws to protect criminals. Thieves have more rights than law biding citizens and cops.
@snapon666
December 20, 2023 at 4:35 am
Correction the retailers are spending billions on anti theft …YOU are paying for it in higher prices …the cost will be passed along to the consumer …as always
@cliffbyrum3534
December 20, 2023 at 4:35 am
Step one in reducing “shrink” is to stop calling it shrink. Call it what it is – theft. God said ‘Thou shalt not steal.’ Even inner city kids know stealing is wrong. None of them think ‘shrink’ is wrong.