Retailers nationwide sustained nearly $100 billion worth of losses in 2021, the highest year on record, according to the National Retail Federation report published in September 2022. The growing number of cartel-run theft rings around the country drove that figure up from $70 billion in 2019.
“Organized retail crime is leading to more brazen and more violent attacks in retail stores throughout the country. Many of the criminal rings orchestrating these thefts are also involved in other serious criminal activity such as human trafficking, narcotics trafficking, weapon trafficking, and more,” said Steve Francis, acting executive associate director for Homeland Security Investigations, in a statement. HSI is part of the Department of Homeland Security’s Immigration and Customs Enforcement
Organized retail crime has taken a huge toll on federal and state governments, costing them $15 billion in lost tax revenue, not including lost sales taxes, according to HSI.
Additionally, the average family will fork up an extra $500 annually to cover rising costs of goods as companies increase their prices to make up for stolen goods.
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