The Staggering Cost of Shoplifting

Shoplifting is a major crime that no one likes to talk about yet the numbers are staggering. According to the National Association for Shoplifting Prevention (NASP), “shoplifting has become one of the most prevalent crimes in the U.S., averaging about 550,000 incidents per day resulting in more than $13 billion worth of goods being stolen from retailers each year. That is more than $35 million in losses per day.”

NASP estimates that there are about 27 million shoplifters in the U.S. (1 in 11 people). They steal from just about any kind of store—department stores, drug stores, discounters, thrift shops. Most shoplifters start when they are teens and continue as adults.

Getting Away With It.

According to NASP, shoplifters are caught an average of once in every 48 times they steal and are only turned over to the police half the time they are caught. Most say it’s hard for them to stop shoplifting even after being caught.

Deterrents to Shoplifting.

It’s clear that shoplifting will continue to be a problem for retailers, but there are ways to reduce the loss.

  • Have employees greet customers as they enter the store. Train employees to ask customers if they need assistance. It shows would-be shoplifters that they are being watched while other customers are often happy an employee is showing interest in them.
  • Prominently mount security cameras throughout the store, especially in secluded areas or where items are frequently stolen.
  • Place signs announcing the consequences of being caught shoplifting (“All shoplifters will be arrested”).
  • Hire security guards to walk the store and to guard entrances. Guards are trained to spot shoplifters. Instead of employees having to confront a shoplifter, they can alert security guards who can detain the shoplifter until police arrive.

Shoplifting impacts us all—in the form of higher prices, lower tax revenue and police and judicial system costs. Retaining retail security guards as well as using other theft prevention measures will reduce the opportunities—and temptation—to steal.