Why it’s hard to buy deodorant in Manhattan
source link: https://www.economist.com/united-states/2022/11/24/why-its-hard-to-buy-deodorant-in-manhattan
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Why it’s hard to buy deodorant in Manhattan
Organised retail crime gangs are behind a shoplifting spike
Customers dashing into a Manhattan pharmacy for deodorant these days are confronted with shelves of locked glass boxes. Buttons marked “call for assistance” bring managers over to unlock them on request. Stores have responded to an uptick in shoplifting by revamping security systems, or closing down. Rite Aid, a pharmacy, closed a branch in Hell’s Kitchen in February after losing $200,000 worth of stuff last winter. And last week Target, a big retailer, reported that a rise in “shrink” (to use the industry jargon) had reduced its gross profit margin by $400m so far this year. The National Retail Federation says inventory loss, largely driven by theft, cost retailers a record $95bn last year.
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