Shoplifting has decreased in some locales
The Roanoke Times and CNN indicate that shoplifting is down in retail stores compared to 2023. Last year, Target reported $500 million in losses, leading to some stores’ closures. This year, the retailer is reporting that things have turned around.
Stiffer penalties for shoplifters and better merchandise accounting are believed to be contributing factors, but the turnaround is not universal. In June, Fairfax County reported an increase in organized retail theft compared to previous years.
Shrinkage continues in Fairfax County
“We’re still struggling with shoplifting and we ended 2023 with just over 7,000 retail crime offenses,” said Fairfax County Police Chief Kevin Davis. “The year before we had 4,000. So, we went from 4,000 to 7,000 in just one year, and that’s alarming.
Daniels pointed out that there are victims on the other end of crimes. When shrinkage is too high, merchandisers have no choice but to raise prices, which hurts consumers.