Tight holiday budgets may push more to steal
By Randy Tucker
Cincinnati Enquirer
As the holiday season approaches, many retailers worry that the continued economic malaise will lead consumers to pull back on spending.
Experts say they should be just as worried about shoppers who won't spend a dime — but will still leave with merchandise.
More shoppers, more goods and more employees create more opportunities for theft during the holidays.
This year, the sluggish U.S. economy is expected to spur a sharp increase in shoplifting as consumers struggling to make ends meet find the best holiday shopping bargains a real steal.
"The uptick in shoplifting activity will be with us for at least as long as the economy continues to be in the doldrums," said Frank Badillo, senior retail economist for Columbus, Ohio-based Retail Forward Inc. Badillo predicts shoplifting will increase by $1 billion this year because of the economic downturn.
Shoplifting already was on the rise before the recession began in March 2001, according to the National Retail Federation, the nation's largest retail trade organization.
Retailers lost $10.23 billion to shoplifting in 2001, up from $8.45 billion in 2000, according to the retail federation.
Most shoplifters are adults, with teenagers accounting for about 25 percent of the group, according to a recent federation study.
The average amount stolen in each incident was $60.74 last year, up from $58.43 in 2000.
Males accounted for 43 percent of shoplifters, and females 34 percent. Gender was not available for 23 percent of the cases studied.
Meanwhile, employee theft cost the retail industry $11 billion last year, according to a study by the University of Florida's College of Business Administration.
Those losses also rise during the holidays because it's harder to keep tabs on numerous part-time employees handling the additional cash during the holidays bring.
And with more inventory passing through shipping and receiving departments, employees are given more opportunities to steal merchandise.
