Earlier today, NRF President and CEO Matthew Shay joined Becky Quick on CNBC’s, Squawk Box; for an exclusive interview on retailer concerns regarding the dramatic rise in organized retail crime (ORC) nationwide, and its impact on retail employees, customers and communities.
According to NRF, retail theft is a nearly $100 billion problem, with mounting evidence the problem is growing.
Violence Associated with ORC is on the Rise:
Shay said, “The real issue is what this does for customers, what it does for the employees, the team members, the associates and what it does to these communities at that individual store level. It’s a real problem and we’ve been working with Congress and federal, state and local law enforcement to try to elevate awareness on the issue and find some real sustainable solutions.”
ORC Requires a National Response cited Shay, “If this were a retail problem exclusively, retailers would have solved it by now. This is about much more than retail, as it involves entire communities —police forces, sentencing prosecutors, and far beyond just retail.”
Talking about the Ripple Effect on Communities, Shay said, “I think that’s a sad reality that one of the potential outcomes that other retail CEOs have said is this is going to impact communities because it’s either going to drive up prices, take those goods off shelves or make them harder to access and impact the consumer experience. It’s going to force store closures in some of these places.”
NRF and the retail community strongly support the Combating Organized Retail Crime Act, legislation that would equip law enforcement agencies with the necessary tools and resources to effectively address this issue. Learn more about NRF’s grassroots campaign urging Congress to support this bipartisan solution to fight retail crime.
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