Walmart makes changes in superstore, It’s no secret that operating a store in the post-pandemic era has been quite difficult. Inventory shrink, or the loss of items as a result of theft, fraud, and mistakes, is at an all-time high in the sector. Due to poor pay, long hours, challenging clients, and workplace violence, it is becoming more difficult to find and retain retail employees.
And there is an increase in both crime and violence. According to a recent retail workplace survey by Loss Prevention Magazine, 60% of retail employees experienced violence at work in the previous 12 months.
Walmart (WMT) – Get Free Report may be the most severely impacted retailer among those affected by the rising flood of crime. 90% of the population is within 10 miles of the largest retailer in America. It’s an affordable and practical location to shop. But it has also been hampered by it.
Theft is a problem. It is now higher than it has ever been. By store location, we have safety and security procedures in place, Walmart CEO Doug McMillon said to CNBC in the latter half of 2022. “I believe that half of the solution is local law enforcement being staffed and being a good partner, and that’s typically how we handle it. Prices will increase and/or stores will close if that is not fixed over time.”
It turned out the prediction was accurate. As of June 2023, 22 Walmart locations had already closed. Eight of those stores were in Illinois, but only four were in Chicago.
Increasing Crime Rates
Following the Chicago store closings, Walmart stated in a news release that “These stores lose tens of millions of dollars a year, and their yearly losses nearly doubled in just the previous five years. We have spent hundreds of millions of dollars in the city. It was thought that these improvements would boost the efficiency of our stores. Unfortunately, despite our best efforts, our stores continue to face significant business issues.”
The prevalence of violent and nonviolent crime in more populated or metropolitan locations is one of these core business concerns. It’s also the reason why two Walmart stores in Atlanta were forced to shutdown after arson at the Howell Mill Road and Vine City stores was suspected.
Walmart is currently preparing to reopen the Vine City site, but with significant improvements. The former Vine City Supercenter will reopen with a pharmacy, grocery store, and police station to better serve the community while the Howell Mill Road Walmart will remain permanently shuttered, according to Atlanta Mayor Andre Dickens.