If you only ride inbounds at resorts, a missing RECCO reflector isn't a dealbreaker at all. RECCO is a passive rescue technology that helps search teams locate you in an avalanche, but most in-bounds riders will never need it. Many budget and mid-range jackets skip this feature to keep costs down.
However, if you venture into the sidecountry, backcountry, or off-piste terrain, you'll want some form of avalanche safety gear. Without a built-in RECCO reflector, you can purchase a separate reflector sticker or strip that attaches to your helmet or gear. Better yet, invest in an active avalanche beacon (transceiver)—that's the primary tool you should carry anyway.
The key takeaway: RECCO is a nice backup, not a primary safety device. Don't pass up a great jacket just because it lacks one, but make sure you're properly equipped with a beacon, probe, and shovel if you ride outside resort boundaries.