Posted on 03/21/2024 7:05:54 AM PDT by ChicagoConservative27
A shoplifting epidemic costing retailers in New York state $4.4 billion a year is creating a shadow resale economy that ranges from eBay to bodegas, The Post has learned.
Shoplifting in New York City alone rose 64% from June 2019 to June 2023, according to the Council on Criminal Justice.
In 2022, the total estimated loss to shops in the state was $4.4 billion, Gov. Kathy Hochul said in February.
And retailers and law enforcement told The Post that the need to sell the stolen goods has created a sprawling underground economy.
Thieves and middlemen are selling shoplifted goods on resale sites such as eBay and Facebook Marketplace and filling warehouse spaces at illegal pawn shops.
(Excerpt) Read more at nypost.com ...
Fixed the headline.
Of course it has.
This is a very profitable business model.
The cost of the product is FREE. So, whatever they sell it for is 100% profit.
The real cost is to the local consumer. The local merchants where the goods are stolen from has to increase their margin to maintain their NET profit margin. If they don’t, they will be forced to close.
Which is eventually what corporate retailers like CVS/Walgreens, etc do when there is too much loss at specific locations.
Conversely, I’ve been thinking lately that it’s also creating an eBay buyers’ market in those areas where the stores are shutting down. I have an ecomm store and am tempted to add more necessary day to day items, to test the theory.
this is part of the reason insurance is skyrocketing
NY will still reap the sales tax revenue from the NY sellers on ebay
I bought a pair of sneakers once from ebay, and the seller was in the Bronx. I always wondered if they were selling legit or selling stolen goods.
BTTT
If NY..CA..IL..were a business..and not the tax suckers they are ..they’de be out of business.
Or,fakes.
What are you going to do about it, Governor Hochul?
Didn't think so.
The people voted for you after all. Enjoy what's left after your tax base and businesses flee your state.
New York’s $4.4B shoplifting shadow economy by illegals —
fueled by progressive no-bail no-jail Democrat policies.
Throw in some cop beatings, purse snatching
and scooter-dragging on their “off days.”
Coulda been- they were converse sneakers, (bought them before i knew converse went woke) but who knows if they were real r not-
Undocumented reparations.
I’ve been seeing it on craigslist in my rural area. Who sells brand new unopened boxed power tools?
Un-possible. The FIBs say crime is down.
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