12.31.24 – The Shreveport-Bossier City Advocate – BY LIZ SWAINE | Staff writer
If it seemed products were more expensive this holiday season, the National Retail Association says shoplifting loss is one reason why.
The NRF says the problem is growing. According to numbers collected between pre-pandemic 2019 and post-pandemic 2023, retailers saw a 93% increase in retail theft with a commensurate 90% increase in dollar loss.
The Council on Criminal Justice’s data showed a different picture, with shoplifting rates for the same period down 10%. However, the first six months of 2024 showed an increase of 24%.
From June 10, 2024 through July 12, 2024, NRF and the Loss Prevention Research Council did a survey of senior loss prevention and security executives who told them that a variety of tactics are being used.
In addition to the more “traditional’ shoplifting is ecommerce theft and fraud, return fraud, and Organized Retail Crime shoplifting. Higher percentages of retailers stated in the survey that they see multiple individuals shoplifting, and more individuals shoplifting multiple items.
According to NRF, in 2022, retailers in Louisiana lost $1.058 billion in revenue to theft, Texas lost $5.95 billion, Arkansas and Mississippi, just over three-quarters of a billion each.
Capital One Shopping reports that each year, at least 85.5% of small businesses experience retail theft, 74.8% of brick-and-mortar small businesses are shoplifted monthly and more than 52% report shoplifting weekly or more.
The sales tax hit is real, too. In Louisiana, Capital One Shopping says the state lost $47.1 million in retail sales tax dollars due to theft. Return fraud totaled $51.2 million more for lost sales taxes of $98.2 million.