NYC Gets Worse: Shoplifters Raid Macy’s

In this 19 May 2024 video, New York City resident Cash Jordan focuses on the exploding marketplace of stolen merchandise being sold openly on NYC sidewalks, sometimes on blankets and tables placed directly in front of the stores the items were stolen from. The criminals even open pop-up stores next to the same stores where the merchandise was shoplifted in order to sell to the same shoppers at lower prices. They also look to the Internet as a sales platform, offering the stolen goods for lower prices.

After a massive shoplifting bust involving Macys, New York City is now losing its chain stores in the battle over theft. Plus a recent illegal business was found selling over $1 Million in shoplifted products.

https://youtu.be/9xcHU-gGq00

Retail shoplifting theft is continuing to rise in NYC. There, as well as across the nation, businesses have been forced to scale back or even discontinue the use of self-checkouts. Some retailer have decided to simply close the store location.

• NYC has seen almost 23,000 retail shoplifting theft complaints so far in this year (reported 21 May 2024)

According to a 4 April 2024 published Capital One Research report…

Retailers in New York lost $4.404 billion in revenue to theft in 2022.

• New York retailers lost $280.72 in sales per capita in 2022.
• Retail theft per capita in New York is 18.4% lower than the average among states.
• Theft of $1,000 or more is a felony in New York.
• Return fraud cost New York retailers an estimated $4.783 billion in sales revenue, bringing total lost sales revenue to $9.187 billion.
• The State of New York lost out on $176 million in retail sales tax dollars due to theft.
• New York sales tax dollars lost to return fraud totaled $191 million, bringing the total lost sales tax up to $367 million.