Combating the Shoplifting Shadow Economy: How POTOO Can Help Protect Brands

A recent investigation by the New York Post has revealed a startling reality: New York State’s retailers are facing a staggering $4.4 billion in losses each year due to shoplifting, fueling a shadow resale economy facilitated by online platforms like eBay and Facebook Marketplace. The Council on Criminal Justice reported a disturbing 64% surge in shoplifting in New York City from June 2019 to June 2023, underscoring the severity of the issue.

This shadow economy thrives on stolen goods, which are “boosted” into the market through various channels, from direct sales to sophisticated online resale schemes. Middlemen play a pivotal role, acquiring stolen goods at a fraction of their value and then selling them in person or on online platforms. The scope of this underground economy is vast, encompassing even perishable items like Häagen-Dazs ice cream, which are stolen and sold directly to neighborhood bodegas.

To combat this pressing issue and shield brands from the repercussions of organized retail crime, innovative solutions are imperative. POTOO, a leader in brand protection, offers a comprehensive suite of services tailored to help brands tackle this challenge and construct compelling cases for authorities to take action against perpetrators.

POTOO’s cutting-edge technology and expertise empower brands to identify and track stolen goods on platforms such as eBay and Facebook Marketplace. By harnessing their monitoring tools and leveraging their team of experts in seller research, brands can gather crucial evidence, including seller information, inventory movements, and abnormal reselling histories, to support the removal of the ability of those sellers to list on those marketplaces.

By partnering with POTOO, brands can proactively protect their products and consumers from the impact of the shoplifting shadow economy. To learn more about how POTOO can help protect your brand, contact us today!

Source: New York Post