Walmart, Target put new item under lock and key (customers are mad) | TheStreet

Walmart, Target put new item under lock and key (customers are mad) | TheStreet

Walmart, Target put new item under lock and key (customers are mad) | TheStreet

Recently, a chilling trend has been gripping the nation, and it’s unrelated to the weather. Retailers nationwide are facing a growing challenge – inventory shrinkage, which essentially means theft and product loss. According to the National Retail Federation (NRF), the average national shrink rate increased by 1.4% in 2021 and 1.6% in 2022, and numbers for the latest year are yet to be revealed. This surge in theft and loss of products has put many retailers in a precarious position, even those who managed to survive the economic turmoil of the past year.

CEOs of major retailers like Target and Walmart have sounded the alarm, expressing concern over the escalating retail theft and organized retail crime. Brian Cornell, CEO of Target, noted the “unacceptable amount of retail theft” and its adverse impact on the company. Doug McMillon, Walmart’s CEO, echoed similar sentiments, indicating that shrinkage has increased in 2022 and 2023, especially in certain regions of the country.

As retail crime surges, retailers are taking drastic measures to curb losses. Target and Walmart have started locking up items like underwear and socks in their stores to prevent shoplifting. This move escalates from the previous practice of securing high-value items like electronics and personal care products. However, the decision to lock up everyday items has drawn mixed reactions from customers, with some expressing frustration over the inconvenience of waiting for an employee to unlock these items.

Large retailers are urging local lawmakers to take action to address this rising issue, as urban areas, in particular, have seen significant increases in retail crime. This situation poses challenges for retailers and communities, potentially leading to increased costs and inconvenience for residents……….full-loaf-600x400-1-e1700879832480 Walmart, Target put new item under lock and key (customers are mad) | TheStreet[read more]

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Rising-Dough-e1700879911412 Walmart, Target put new item under lock and key (customers are mad) | TheStreetHow might the increasing inventory shrinkage and its impact on retailers affect the broader economy, and what strategies can businesses employ to tackle this growing issue effectively?

*Click on the “Full Loaf” icon to read the full article! After you read the full article, let us know your thoughts.

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11 Comments
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fb07eefb42c05d944b7effe03f094bfc?s=64&d=mm&r=g Walmart, Target put new item under lock and key (customers are mad) | TheStreet
Guest
Niya Spells
3 months ago

 Business are going to raise prices due to the scarcity of inventory. Franchisees may begin to shut down due to lack of products. Businesses can collab with other popular shops, introduce new accessories, or have reoccurring annual sales.

bd4d46e06727cad40b45540e80ccbea4?s=64&d=mm&r=g Walmart, Target put new item under lock and key (customers are mad) | TheStreet
Guest
De’mari
3 months ago

Business are going to start raising prices because of product shortage. And this can cause business to because the lack of products they have in their inventory.

d366eea7ced4c9eb35c0b458518a2fb2?s=64&d=mm&r=g Walmart, Target put new item under lock and key (customers are mad) | TheStreet
Guest
znai johnson
3 months ago

 Business are going to raise prices due to the scarcity of inventory. Franchisees may begin to shut down due to lack of products. Businesses can collab with other popular shops,

15d4a048de9d1cac962f1fb6fd95bc9d?s=64&d=mm&r=g Walmart, Target put new item under lock and key (customers are mad) | TheStreet
Guest
Anthony M
3 months ago

The increased inventory shrinkage will impact retailers by making them lose profit, so in order to make up for losses retailers will most likely increase prices. By increasing prices, the economy will be seriously impacted because consumers lose purchasing power making the money circulate less, furthermore they make cut some expenses which will also weaken economy.

d35a3b5b7c10f29756b6b1434ad5ab3f?s=64&d=mm&r=g Walmart, Target put new item under lock and key (customers are mad) | TheStreet
Guest
Alyssa
3 months ago

Increasing inventory shrinkage in retailers can have ripple effects on the broader economy, leading to higher prices for consumers and potential revenue losses for businesses. To address this issue, businesses can implement robust inventory management systems, invest in advanced security measures, conduct regular audits, and train staff to detect and prevent theft. Collaborating with law enforcement and utilizing data analytics can also help businesses identify patterns and proactively address inventory shrinkage.

5324a30f1de2398fdf81405a163c7cd6?s=64&d=mm&r=g Walmart, Target put new item under lock and key (customers are mad) | TheStreet
Guest
Adriana
3 months ago

The increasing inventory shrinkage and its impact on retailers affect the broader economy because it gives less options for people to browse at meaning that for retailers there will be less and less money coming in since consumers will have not much of options to pick from. Strategies business can employ are partnering up with a bigger company or get a sponsorship that will provide and bigger inventory.

99b0eb46b951ba96238fbea846d983e3?s=64&d=mm&r=g Walmart, Target put new item under lock and key (customers are mad) | TheStreet
Guest
Desiree Velez
3 months ago

Inventory shrinkage can have a significant impact on retailers and the broader economy. When retailers experience losses due to theft, fraud, or administrative errors, it can lead to reduced profits and increased prices for consumers. This can have a ripple effect on the economy, as it affects retailers’ ability to invest, expand, and create jobs.

d8c17f3c6732790a17d12fdbcb965201?s=64&d=mm&r=g Walmart, Target put new item under lock and key (customers are mad) | TheStreet
Guest
Lashawna
3 months ago

The increasing inventory shrinkage and its impact on retailers affect the broader economy because the decrease in products can make the franchise shut down. Strategies businesses can employ to tackle this frowning issue effectively is keep products locked away before closing by collaborating with bigger companies to provide bigger inventory and maybe branch out.

640a3faedae705bb946badf25e405513?s=64&d=mm&r=g Walmart, Target put new item under lock and key (customers are mad) | TheStreet
Guest
javien cajide
3 months ago

The way shrink affects businesses is they raise their prices due to the scaurity of the inventory. And while this is true, that shrink is very negative for the company consumers are very angry with the fact that they are locking up some of the items, making it more of a hassle to buy the items they would like.

360d9564dc4a912bc5b7d18acdca59bc?s=64&d=mm&r=g Walmart, Target put new item under lock and key (customers are mad) | TheStreet
Guest
Luis
3 months ago

due to the shrinkage in products and inventory prices will raise as the items will gain new found worth due to the lack of them changing the way everyday things and others get purchased lowering shops income.

86757fa1cad7d37dbe0aebce5c722abd?s=64&d=mm&r=g Walmart, Target put new item under lock and key (customers are mad) | TheStreet
Guest
imari
3 months ago

this is because these new items are high priced and due to inflation buy things like this is hard so stealing is an option some people are going for

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stonestreetcoffee.com ☕️ **Discover Stone Street Coffee Company - Your Coffee Haven!** Today's Dough readers, if you're on the hunt for exceptional coffee and cold brew, look no further than Stone Street Coffee Company. We at Today's Dough are smitten with their rich coffee blends and refreshing Cold Brew. Stone Street's commitment to quality shines through in every sip. Now, exclusively for our readers, click the banner above to snag a $5 off coupon on your next order. Experience the finest, ethically sourced beans roasted to perfection. Join the Stone Street community, savor top-notch coffee, and elevate your daily brew. ☕️🌟

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11 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Niya Spells
Guest
Niya Spells
3 months ago

 Business are going to raise prices due to the scarcity of inventory. Franchisees may begin to shut down due to lack of products. Businesses can collab with other popular shops, introduce new accessories, or have reoccurring annual sales.

De'mari
Guest
De'mari
3 months ago

Business are going to start raising prices because of product shortage. And this can cause business to because the lack of products they have in their inventory.

znai johnson
Guest
znai johnson
3 months ago

 Business are going to raise prices due to the scarcity of inventory. Franchisees may begin to shut down due to lack of products. Businesses can collab with other popular shops,

Anthony M
Guest
Anthony M
3 months ago

The increased inventory shrinkage will impact retailers by making them lose profit, so in order to make up for losses retailers will most likely increase prices. By increasing prices, the economy will be seriously impacted because consumers lose purchasing power making the money circulate less, furthermore they make cut some expenses which will also weaken economy.

Alyssa
Guest
Alyssa
3 months ago

Increasing inventory shrinkage in retailers can have ripple effects on the broader economy, leading to higher prices for consumers and potential revenue losses for businesses. To address this issue, businesses can implement robust inventory management systems, invest in advanced security measures, conduct regular audits, and train staff to detect and prevent theft. Collaborating with law enforcement and utilizing data analytics can also help businesses identify patterns and proactively address inventory shrinkage.

Adriana
Guest
Adriana
3 months ago

The increasing inventory shrinkage and its impact on retailers affect the broader economy because it gives less options for people to browse at meaning that for retailers there will be less and less money coming in since consumers will have not much of options to pick from. Strategies business can employ are partnering up with a bigger company or get a sponsorship that will provide and bigger inventory.

Desiree Velez
Guest
Desiree Velez
3 months ago

Inventory shrinkage can have a significant impact on retailers and the broader economy. When retailers experience losses due to theft, fraud, or administrative errors, it can lead to reduced profits and increased prices for consumers. This can have a ripple effect on the economy, as it affects retailers’ ability to invest, expand, and create jobs.

Lashawna
Guest
Lashawna
3 months ago

The increasing inventory shrinkage and its impact on retailers affect the broader economy because the decrease in products can make the franchise shut down. Strategies businesses can employ to tackle this frowning issue effectively is keep products locked away before closing by collaborating with bigger companies to provide bigger inventory and maybe branch out.

javien cajide
Guest
javien cajide
3 months ago

The way shrink affects businesses is they raise their prices due to the scaurity of the inventory. And while this is true, that shrink is very negative for the company consumers are very angry with the fact that they are locking up some of the items, making it more of a hassle to buy the items they would like.

Luis
Guest
Luis
3 months ago

due to the shrinkage in products and inventory prices will raise as the items will gain new found worth due to the lack of them changing the way everyday things and others get purchased lowering shops income.

imari
Guest
imari
3 months ago

this is because these new items are high priced and due to inflation buy things like this is hard so stealing is an option some people are going for

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