U.S. retailers admit they lied about shoplifting, retail crime again
U.S. retailers admit they lied about shoplifting, retail crime again
The circle of life. Stores fail for complex reasons → retailer quietly posts accurate analysis of its own mistakes → retailer loudly posts press release blaming shoplifters and gangs → media likes …
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They’re all insured for these kinds of losses anyway (I used to work in big box retail operations).
Insurance isn't going to cost less than what they're losing. It just smooths out the losses and avoids any surprises.
They’re self insured for this… and it’s priced into the products they sell.
What do you suppose "self insured" means?
Don't get me wrong, I'm all for sticking it to big corporations, but we could just be honest about what we're saying: I don't care if shoplifting costs retailers money.
You're 100% right on the second point, though, they anticipate some amount of shrinkage when setting prices.