As per reports, Walgreens has come out in support of the INFORM Consumers Act launched in the U.S. House of Representatives, this week by Congresswoman Jan Schakowsky.
Alex Gourlay, president of Walgreens issued a statement, “The lack of transparency and accountability in today’s digital marketplaces has contributed to the rapid rise of organized retail crime, which has become one of the top challenges facing the retail industry today. Walgreens strongly supports Congresswoman Schakowsky’s INFORM Consumers Act, which complements the bipartisan Senate bill introduced earlier this year to require online marketplaces to verify high-volume sellers, remove incentives for retail theft and help make our communities safer. Now, more than ever, consumers deserve to know who they are buying products from online, in order to make safe and informed purchasing decisions for themselves and their families.”
What is Organized Retail Crime (ORC) & How Does It harm?
According to a survey by the National Retail Federation, 2019, retailers complained of average losses of $700,000 per $1 billion in sales over 12 month period. Organized retail crime is one of the top threats that retailers have to face today which has gone beyond petty theft to the sale of stolen and fake online goods online, shoplifting, and unregulated online marketplaces. Walgreens considers that online platforms and market places should be accountable for their activity and ensure the sale of legitimate goods from verified sellers.
Walgreen Boots Alliance (WBA) is a pharmacy-led, health and well-being enterprise with a long history of trusted healthcare services, community pharmacy care, and pharmaceutical wholesaling dates. To learn more about Walgreen Boots Alliance (WBA) and to continue to track its progress please visit the Vista Partners Walgreens Boots Alliance Page.
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
Stay Informed! Stay Competitive! Please join us at Vista Partners and receive our FREE email updates throughout the week and view our exclusive content and research.