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If the shoplifting costs are $119 billion a year it means that consumers are paying $119 billion more for products than needed. Retailers don't eat the loss, it's passed on to buyers.
In my area, Wal-Mart prosecutes all shoplifters apprehended. And I've seen the take downs in the parking lot.
I worked in the corporate office for a fairly large retailer for several years. Such loss would be considered as "shrink". Shrink wasn't included in the initial bought margin - it was pat of the sold margin. Stores and store managers were penalized for excessive shrink, which was usually anything above 2% of gross sales, as a rule of thumb. Shrink did not influence our pricing structure at all; in other words, this was not passed on to the customer, but vendor price increases and the cost of freight were.
While most of us are out buying holiday presents some people are getting their gifts with a five-finger discount. Ad Week is reporting that one in every 11 people walks out the door with at least one item they didn’t pay for. With shoplifting up six percent this year, retailers stand to lose a whopping $119 billion of merchandise to shoplifters in 2011.
Not nice to know that so many Americans are thieves. Entitlement minded people who want something for nothing out of someone else's pocket. They take what they want without working for it and probably later wonder why prices get so high. Not good. Says nothing good IMO about the lack of quality of at least some of our people IMO.
9% of the population isn't in congress or the presidency, quit lying...
They do this because they can. The stores do little about it except push the costs onto the paying customers. The retailers don't lose, the honest customers lose.
I think there should be serious prison time for these low-lives.
I agree. They think it's harmless, but it costs all of us, including the city, county and state in taxes lost.
In addition, lots of failed parenting going on there.
That is true. When my mother found out I stole a bathing suit from Macy's, she took me into the store and made me confess and give it back. I never stole anything after that.
There is a lot of shoplifting going on, but I personally find those numbers a bit incredible. They just seem way too high to me.
It must be Obama's fault.
What's that you say? OH, It's Bush's fault!
:-)
It's a huge industry now, with little things like cosmetics and otc meds. They pool what they got and sell it in flea markets or on the web. It has caused some businesses to fold. Walgreens had a big problem nationwide with these criminal gangs.
They also have taken to stealing big rigs loaded with goods they can sell. They warehouse them, then off them to any willing buyer. The store doesn't want their insurance to go up, so may not even report the loss.
My shoplifting days ended many years ago after I turned 18 and getting busted would have given me a criminal record for life. Most people think shoplifting isn't a big deal, but imagine how humiliating it must be to get busted for it, and have it on your record.
See, I don't agree with that.
Juveniles do stupid things like blow up mail boxes (like I did), because they're juveniles. I'm all for giving people the benefit of the doubt, but when juvenile crime because more or less a way of life for juveniles, their records ought not be sealed.
Quote:
Originally Posted by box_of_zip_disks
Loss is factored into retail pricing. Who cares.
Just remember that the next time you ask for a pay raise and none is forthcoming.
I guess the issue is to complex and so it never donned on you that everyone suffers, most of all the employees.
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Originally Posted by Joe_Ryder
The theft numbers are probably right but just mis-categorized. Employee theft has always been a significant expense in retail but is all considered COGS on schedule C along with shoplifting or for big stuff there is always form 4684. Statistically it's all the same.
Yes, employee theft is an issue, but statistically, it's going to depend on the specific retail/wholesale sector.
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Originally Posted by hotair2
How much prison time should there be for a box of tampons from walmart. Just curious.
7 years, no parole, forfeiture of all benefits, up to and including Social Security/Medicare.
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Originally Posted by shadowne
Manufacturer's Suggested Retail Price
Pricing varies at different stores, even within the same retail chain.
No, the MSRP is what the manufacturer suggests. Stores generally can sell it for any price they want, unless they have an exclusive distributorship for a certain product, meaning you can only buy that product at their retail outlets and no other.
The reason prices vary at different stores within the same retail chain is because of shop-lifting.
The Hyde Park Kroger's and Over-the-Rhine Kroger's are in the same category (specifically CAT3) because the beautiful rich people live in Hyde Park, and the welfare rejects live in Over-the-Rhine. They pay more.
If I am purchasing a large quantity of goods, it's actually cheaper for me to pay $3.50 to ride the bus round trip to the Kroger's in Western Hills (which is a CAT1 store and has lower prices).
Quote:
Originally Posted by Glasvegas
I worked in the corporate office for a fairly large retailer for several years. Such loss would be considered as "shrink". Shrink wasn't included in the initial bought margin - it was pat of the sold margin. Stores and store managers were penalized for excessive shrink, which was usually anything above 2% of gross sales, as a rule of thumb. Shrink did not influence our pricing structure at all; in other words, this was not passed on to the customer, but vendor price increases and the cost of freight were.
Okay, so your employer had a different policy to address the issue. Maybe it works for them, but it might not work for other retailers/wholesalers.
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Originally Posted by claudhopper
I agree. They think it's harmless, but it costs all of us, including the city, county and state in taxes lost.
Yes, and it costs employees lost future wages.
Quote:
Originally Posted by claudhopper
That is true. When my mother found out I stole a bathing suit from Macy's, she took me into the store and made me confess and give it back. I never stole anything after that.
Good for your mother. Too bad more people don't care about morality and have the desire for their children to succeed.
I'm sure those darn greedy CEO's that are causing all this.
CEOs? Heck no! They would never want that cheap crap imported from China that the rest of us have to buy.
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