The heads of major retail stores in the U.S. have sent a letter to Congress, asking them for help in dealing with the recent wave of store robberies and theft in major cities. The CEOs of companies such as Target, Nordstrom, Home Depot, and CVS all signed the letter, which was sent on Thursday.
In the letter, the group of 20 retail leaders asked Congress to take action by passing legislation that would discourage criminals from stealing from their stores. This includes suggested legislation that would make it illegal for people to sell stolen goods offline and online.
The letter, which the Retail Industry Leaders Association sent on behalf of the CEOs, outlined how retailers have been severely impacted by the recent wave of organized crime in major U.S. cities across the country. The retailers said that criminals are being left to capitalize on the "anonymity of the internet" and the failure of online marketplaces in properly vetting sellers.
"In the current environment, criminal networks and unscrupulous businesses have exploited a system that protects their anonymity to sell unsafe, stolen or counterfeit products with little legal recourse," the RILA letter said.
Other CEOs who signed the letter included Best Buy, Levi Strauss, Footlocker, Kroger, and Dollar General.
The group proposed that lawmakers pass a law that would make it harder for criminals to hide behind fake accounts and identities. It was also suggested that a law be passed that would make it easier for buyers to know who exactly they are buying their items from.
Over the past few months, several department stores and retail outlets have been the victim of organized robberies, including recent smash-and-grab mod attacks that targeted high-end stores such as Louis Vuitton and Nordstrom. The crimes occurred in major cities such as Chicago and Los Angeles.
Best Buy CEO Corie Barry said the wave of thefts is fast becoming a major problem in the industry, and retailers will need the help of lawmakers to rectify the situation. Barry said they are already investing money in beefing up their security measures to ensure the safety of their employees and customers.
The retail business is having a hard time dealing with the rise in organized theft. The National Retail Federation, the industry's main trade association, conducted a survey of 61 businesses in 2020, finding that organized retail theft increased by roughly 60% from 2015, costing stores an average of $719,548 for every $1 billion in sales.
