If you're looking for uplifting holiday news about caring, sharing, and giving -- this story isn't for you. This news is for those who for whatever reason find it enthralling to think about how shoplifting correlates to the broader economic climate in our nation's struggling retail stores. And according to the experts, shoplifting is very trendy this economically stagnant holiday season. In fact, retail theft is up %60 from just a year ago. Yikes.Apparently, theft always tends to rise during the holiday season, but the layoffs and cutback resulting from the current recession are tempting more shoppers to become shoplifters. According to store security expert Jim Cahill, it's not the spirit of giving that shoplifters have on their minds this year. Most of the cases he's run across involve items that were not boosted "for gift-giving. Now a lot is things for personal use."
It kinda seems like maybe shoppers blew all their money on lingerie, and then had to steal some whitey tighties. Or they bought the botox and had to steal the lipstick. As overdue bills start to com in, and debt collectors start calling, cash-strapped shoppers start looking for that five finger discount.
The uptick in shoplifting is a sign of troubled times, says the VP of the National Retail Federation Joseph LaRocca: "But it's not theft for need, but theft for greed. It's not that they needed the Coach bag. They wanted it. They make a wrong decision, not unlike when the economy is good."
In 2007, an estimated $34.8B was lost to the art of shoplifting and employee theft. No telling what the figures will look like this year. One thing is for sure though, the costs will be passed along to paying customers in the form of higher prices.