ICYMI: LP Industry News of the Week Oct. 2-8

LPM news in review

We know that your week can get busy, and the time you have to catch up on the news from around the retail loss prevention industry is often stolen away by other things. That’s why the LPM team sifts through headlines from all over the country to bring only the most relevant LP news to you here, in our special weekly news round-up — the perfect bookend to a productive week.

Here’s What You May Have Missed

INFORM Consumers Act Introduced to Fight the Online Sale of Counterfeit Goods
Congresswoman Jan Schakowsky (IL-09) and Congressman Gus Bilirakis (FL-12) introduced the INFORM Consumers Act this week to combat the online sale of stolen, counterfeit, and dangerous consumer products. The bill proposes to require online platforms that allow for third-party sellers of products to verify the identity of sellers.

Retailers Warn That More Inflation Is Coming
Costco, Nike, FedEx, and General Mills are informing consumers that more inflation is coming, just in time for the holiday shopping season. Shipping bottlenecks, rising freight costs, higher labor costs, increased demand for transportation and products, and the shortage of computer chips are all to blame for the rising prices.

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Amazon Settles With TikTok Influencers Promoting Stolen Goods
Amazon has reached a settlement with two influencers after suing them and others last November for promoting counterfeit luxury goods on Instagram and TikTok. As a part of the settlement, the influencers are prohibited from marketing, advertising, linking to, promoting, or selling any products on Amazon.

Consumers Report Rebounding Incomes and a Return to In-Store Shopping
A new study shows that 67 percent of Americans say their income has returned to or exceeded pre-pandemic levels. And with those rebounding incomes, they’re ready to spend, too. Nearly one in three plan to shop in stores on Black Friday — nearly twice as many as last year.

Police Seize Over $100K in Counterfeit Goods From Jersey Woman’s Home
A North Jersey woman was arrested for selling counterfeit merchandise from her home after police found more than $100,000 in luxury counterfeit handbags, hats, jewelry, and other items. She is being charged with second-degree Trademark Counterfeiting.

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