Retailers Bear Some Blame In Theft Epidemic

Retailers would have you believe that they are powerless to stop the shoplifting epidemic, contributing to $112.1 billion in losses last year alone from what the industry broadly labels “shrink” — a catchall term that also includes returns and damaged goods. The solution, they claim, is harsher penalties for shoplifters. While that may help, retailers can’t ignore their own responsibilities.

Although images of mass lootings like that in Philadelphia this week have grabbed the headlines, the reality is that the vast majority of shoplifting is done on a far smaller scale. But that doesn’t make the issue any less of a problem for retailers. Target Corp. just said it plans to close nine stores in New York, Seattle, Portland and northern California due to concern for worker safety amid a rise in theft. Retailers have called on states to lower the threshold for what is considered felony retail theft, eliminate cash bail in those instances and create specialized task forces to investigate such crimes. A bill with similar aims was introduced in Congress.