Neil Bradley is the VP and Chief Policy Officer for the US Chamber of Commerce. We'll discuss the national crisis of "Organized Retail Theft" and what is being done to help businesses, consumers and communities.The problem is so bad that 54% of small business owners experienced an increase in shoplifting in 2021 and the average large retailer lost $700,000 per $1 billion in sales as of 2020 — an increase of more than 50% over a five-year period, according to the National Retail Federation.=
These crimes are not victimless. In addition to the growing number of thefts that turn violent, innocent consumers, employees, local communities, and business owners and shareholders bear the costs of rising retail theft.
What can be done, how big of an issue is retail theft in your local area, and what role can Congress play?