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And other data points say the opposite: https://www.cnn.com/2023/01/18/business/retail-shoplifting-shrink-walgreens/index.html https://www.cnn.com/2023/01/18/bu
by qbasic_forever 3y ago
And other data points say the opposite: https://www.cnn.com/2023/01/18/business/retail-shoplifting-shrink-walgreens/index.html https://www.cnn.com/2023/01/18/business/retail-shoplifting-s...
"In a major shift, Walgreens, which said it saw a spike in shrink during the pandemic and cited organized retail crime in its decision to close five San Francisco stores in 2021, is backtracking.
“Maybe we cried too much last year” about shrink numbers, Walgreens finance chief James Kehoe said on an earnings call earlier this month.
During its latest quarter, the company’s shrink rate fell to around 2.5% from 3.5% of total sales last year."
I don't see a clear picture of increasing shoplifting. I do see a clear incentive for stores to claim there is an increase in shoplifting though.
- ericd 3y agoI don't think they were crying too much, it felt like >50% of the time I was at Walgreens on Mission St in SF that I witnessed someone very blatantly shoplifting. And pretty often, I'd see a spread of someone selling standard drugstore wares on the sidewalk outside. I'd have been beyond frustrated if I managed that store.
- Brian_K_White 3y agoI also wonder if the stores reduced staffing. All stores have had less staff ever since self checkout was invented, and seems to have gotten even worse lately. Let's have a big store and no staff, treat the staff you do have like shit, and then complain about shoplifting.
- qbasic_forever 3y agoExactly what I've seen too. It's wild seeing one employee trying to watch a dozen self checkout kiosks during an after work rush of grocery shopping.