The dark side of holiday shopping
Forbes commented that as sales in the US surge, retailers brace for record theft. According to the article, 92% of US companies said they had been a victim of organised retail crime in the past year, and 71% of them said these incidents were increasing. 30% of retailers reported that their goods had been targeted by criminals while in transit. The term 'organised retail crime' means large-scale theft of merchandise with the intent to resell it. According to Forbes, laws are becoming less of a deterrent, particularly as some US states have increased the threshold for a theft to be considered a felony instead of just a misdemeanour. It is worth noting that some of the stolen merchandise makes its way back to retailers as fraudulent returns. US retailers expect in excess of 10% of their holiday sales to be returned and 1/10th of it to be fraudulent.