As the rising cost of living continues to weigh on consumers, another retail trend is rising too – shoplifting. And according to researchers, petty retail theft isn’t going away anytime soon.
A Growing Problem
Shoplifting is much more widespread than many of us may realize, according to a recent survey by online lending marketplace LendingTree.
2,000 Consumers Surveyed
The survey was released late last month and presented findings based on 2,000 US consumers. 23% of participants reported having shoplifted at least once before, representing more than 1 out of 5 Americans.
The Reasons Behind It
However, rather than a cheap thrill or a desire to nab designer or luxury goods, the survey shed some light on why so many Americans have committed this petty crime – and it could be more relatable than you expect.
Citing Economic Causes
Of the participants who have admitted to shoplifting, 23% have committed the act in the last year. 90% of those recent shoplifters claim they did so for economic reasons, citing increased inflation and financial struggle.
Squeezed by Inflation
While there is no way to confirm that this shoplifting was done out of necessity rather than convenience, there is no doubt that low and medium-income Americans have been squeezed by inflation and a rising cost of living in recent years.
Financial Insecurity on the Rise
American households are increasingly facing financial insecurity – another recent LendingTree survey found that 1 in 3 households are having difficulties covering household expenses week-to-week.
Grocery Items Commonly Stolen
For some, shoplifting from retail and supermarkets may feel like the only way to obtain products they otherwise could not afford. Grocery prices have risen significantly in recent years, and food and nonalcoholic drinks represented 45% of items shoplifted according to the survey – the most common items stolen overall.
Many Young Shoplifters
The ages of participants would suggest other reasons beyond financial difficulties, as 48% of participants who had shoplifted were under the age of 16. 53% of all shoplifters admitted to doing it because they were young.
Making Ends Meet
30% of shoplifters admitted to stealing because it helped them to “make ends meet” during periods of financial difficulty.
“Lots and Lots of Reasons”
“I’ve learned that a lot of people have given shoplifting a try for lots and lots of reasons,” said Matt Schulz, LendingTree’s chief credit analyst, in conversation with USA Today.
Some Who “Are Doing It Because They Need to”
“Some people did it for kind of the cliché reasons that you would think: They were young and they were just seeing what they could get away with,” he said. “And there was unquestionably a group of folks who are doing it because they need to.”
Other Researchers Weigh in
The LendingTree is not the only researcher speculating on a recent, inflation-related spike in shoplifting across the country.
Council on Criminal Justice
New data from the Council on Criminal Justice, a US policy incubator for the criminal justice field, shows that shoplifting has risen dramatically in the last year.
Shoplifting is An Outlier
The council analyzed recent criminal trends in 39 cities and found that while violent crimes had returned to or dropped below pre-pandemic levels, and carjacking and motor theft had continually decreased, shoplifting was a major outlier.
Surged by 24%
Shoplifting incidents had surged by an average of 24% across 23 of the cities studied. And this pattern occurred in just the first six months of 2024.
Retail Chains Affected
Retail chains across the country have also reported the growing trend of shoplifting – and in some cases, it has even affected their bottom line.
Contributing to Store Closures
Major chains like Walmart, Macy’s, Dollar Tree, CVS, and others have cited retail theft and crime as major concerns that have contributed to store closures in major cities like New York, San Francisco, Portland, and Seattle.
Significant Inventory Loss
Last year the National Retail Federation also surveyed retail members who reported losing a combined $112 billion in inventory, though it is unclear how much was lost to shoplifting.
Unlikely to Stop
As inflation continues to batter the US economy, and the cost of living continues to rise, it’s unlikely that rates of petty theft, including shoplifting, will decrease anytime soon.
Desperate Times, Desperate Measures
“Lots of people are struggling in the face of still-rising prices, and they’re going to somewhat desperate measures to help them get by,” Schulz said. “With inflation stubbornly sticking around, that’s not likely to change soon.”
Featured Image Credit: Shutterstock / Mike_shots.
The content of this article is for informational purposes only and does not constitute or replace professional financial advice.
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