Theft and fraud cost retailers $62 billion in 2019, up from $51 billion the previous year, according to a National Retail Federation survey.
Retailers' losses due to theft, fraud, and other causes totaled nearly $62 billion in 2019, up from nearly $51 billion the previous year, said the survey, which was conducted by the National Retail Federation and the retail consulting firm Appriss Retail. "Between an increase in incidents and new ways to steal, shrink is at an all-time high," said Mark Mathews, NRF vice president for research development and industry analysis. "Loss prevention experts are facing unprecedented challenges from individual shoplifters to organized gangs to highly skilled cybercriminals."
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