Retail lobby group's retraction of key crime claim shows how hard it is to track theft
Publishing timestamp: 2023-12-07 11:38:03
Summary
The National Retail Federation (NRF) has retracted its claim that organized retail crime accounted for nearly half of all shrink losses due to incorrect analysis and flawed data. The retraction highlights the difficulty in accurately measuring the impact and source of inventory losses in the retail industry. The NRF had published a report in April claiming that nearly half of the estimated $94.5 billion lost to shrink in 2021 was attributable to organized retail crime, contradicting their own annual shrink survey. The NRF retracted the claim after an investigation revealed the discrepancy. The article also mentions previous instances where the NRF published data that later turned out to be incorrect.
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