Retail giants like Ulta, T.J. Maxx, and Walgreens are facing a big problem with organized crime groups stealing from them.
However, CNBC spent eight months looking into these groups and found out some surprising things.
These crime rings aren't just about stealing a few things here and there. They're highly organized and have been making big money for years.
For example, an interview with a businesswoman revealed that she is now living in a fancy neighborhood in San Diego, building her own company from stolen cosmetics. Now, she, then sells stolen items on Amazon, making millions.
But she noted that she didn't steal them herself but had a network of women doing it for her. They hit stores across the country, cleaning out entire shelves and stuffing stolen goods into fancy bags.
After getting caught, it was later revealed just how widespread these organized theft groups are. They're not just small-time thieves; some are as sophisticated as big corporations, with fleets of trucks and cleaning crews making stolen goods look brand new.
However, it's uncertain if these cases are related to VCPost's report on a surge in retail theft during special occasions, like Valentine's.
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Why Retail Giants Have To Counter Theft
In response, retail stores will employ strategies to counterattack retail theft, as it doesn't just hurt profits but also makes shopping less safe and enjoyable for everyone.
Companies are beefing up security and pushing for stricter laws to stop these criminals.
Law enforcement will also help crack down on these groups, but it's not easy due to the presence of bigger operations, such as the case of the businesswoman previously mentioned, which span multiple states and involve millions of dollars.
Now, there are efforts to curb this problem, but there is a call to make new laws requiring online platforms to verify sellers; it's clear that organized retail crime is a complex issue that won't be solved overnight.
Retailers, law enforcement, and consumers all need to work together to tackle it.
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