Retail giant Target is closing nine of its stores due to rampant theft and organized retail crime. Despite aggressive strategies to combat this issue, including additional security personnel and theft-deterrent tools, the retail behemoth continues to grapple with this menace that’s shaking the very foundations of its business structure. Evidently, the safety of their team and guests has been compromised, forcing them to cease operations in affected locations. A staggering $112.1 billion in financial losses was recorded in the U.S. retail sector in 2022, underlining the severity of this issue.
What do you believe is the most effective strategy to tackle organized retail crime?