Why it matters: Retailers are already reeling from the pandemic, supply chain woes and the labor shortage. Now they’re combating systematic looting by organized crime gangs — which are growing more aggressive and violent.
“It’s out of control — it is just out of control,” Lisa LaBruno, SVP of operations and innovation at the Retail Industry Leaders Association, tells Axios.
A lot of the uptick is tied to the ease of reselling stolen goods online, plus the fact that consumers are buying more everyday goods online during COVID.
“We have experienced a 300% increase in retail theft from our stores since the pandemic began.” CVS spokesman Michael DeAngelis tells Axios.
At a Rite Aid that just closed its doors in midtown Manhattan, more than $200,000 in goods were stolen in December and January, per the New York Post.
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