There is some good news about retail fraud, which seems worth reporting following recent reports here about the prevalence of the crime.
While retail fraud is unwelcome by any retailer’s reckoning and while return fraud is one of the most popular ways to cheat retailers, the fact is, says Joe LaRocca, vice president of loss prevention for the National Retail Federation, that 64 percent of consumers did not make a single return last year. Bless their satisfied hearts.
The other bit of good news is that gift cards sales will be up this year — to $26 billion. This should soothe a retailer’s ears because gift cards, LaRocca says, reduce the possibility of returns.
One final piece of news worth smiling about is that the NRF is working to increase penalties for retail fraud.