Retailers are grappling with organized retail crime that has escalated to an estimated loss of $121 billion in 2023. Capital One Shopping's research highlights how online marketplaces have made it easier for criminals to resell stolen goods. Oscar Arango, a former Target executive, pointed out that thieves have become bolder, showcasing their activities publicly rather than hiding. Consumer sentiment has shifted, with many preferring to shop online out of concern for retail crime, potentially harming retailers' profits further as they face both theft and dwindling foot traffic in stores.
"In the past, you saw a lot more people concealing merchandise, clandestine, trying not to be out in the open. But now, it's just a lot more overt in the way that they're doing it. They feel like they can be more brazen."
"Back in the day, when you had repeat offenders stealing from retailers, they would only have a few choices on how to resell that merchandise. Now, you can sell stolen merchandise out in the open on different [marketplace] platforms, and it's become so much easier."
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