Op-Ed | The price of poor oversight: How retail loss is driving up the cost of living | amNewYork

"Retailers across New York lose more than $4 billion dollars of revenue annually through retail-theft, with a growing share occurring at self-checkout due to inadequate staffing."

"For the State, this means losing $176 million in sales tax revenue, while New York City faces tens of millions in losses, impacting the city budget."

"Affordability is directly connected to revenue loss; when companies lose money, they raise prices, driving up the cost of food and essential goods across New York City."

"Int. No. 729 requires adequate staffing in self-checkout areas and establishes a 15-item limit, ensuring these systems are used as intended—quick, manageable, and supervised."

Retailers in New York face over $4 billion in annual losses due to theft, particularly at self-checkout stations. Inadequate staffing has turned customers into unpaid labor, leading to significant revenue losses for the state and city. This situation contributes to rising prices for consumers as companies attempt to recover losses. To address these issues, Int. No. 729 has been introduced, mandating proper staffing at self-checkouts and limiting the number of items to ensure efficient operation. This initiative aims to alleviate the financial burden on consumers and improve store management.

Read at www.amny.com