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By Suzanne Blake
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Shoplifting has reached staggering levels as inflation continues to force Americans to pinch pennies and forgo necessities.
Shoplifting increased by 24 percent in the first half of 2024, according to the Council on Criminal Justice's mid-year report, even as other crime levels decreased.
In many cases, shoplifting is seen as a "crime of necessity" for low-income Americans. As inflation continues to impact both businesses and families, shoplifting rates have surged even higher.
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"Shoplifting as such a widespread crime during a time of high inflation is actually quite common when you look at similar times from other countries in the past," Alex Beene, a financial literacy instructor at the University of Tennessee at Martin, told Newsweek. "The one-two punch that consumers face is not just higher prices, but also a drawback of additional financial resources they would normally qualify for because of their current employment and income outlook."
In a LendingTree report, more than one in five Americans admitted to shoplifting in the past. The survey spanned 2,000 American consumers and found 23 percent had shoplifted, and 90 percent of recent shoplifters said they did so because of today's inflation and economy.
Within the group of shoplifters, some patterns came up. Americans with children younger than 18 (27 percent) and millennials (26 percent) were some of the most likely to commit the crime, indicating they might be facing more financial worries than other groups.
"I'm sure some of the instances were young people being reckless and seeing what they could get away with for the thrill of it," LendingTree chief credit analyst Matt Schulz said in the report. "But that's not the whole story, and it's likely causing problems for businesses across the country."
Over a third of the shoplifters said they stole items because prices were otherwise unaffordable, and 30 percent said it helps make ends meet.
There was some consideration given to the type of store a shoplifter would steal from. Roughly half said they would steal from a chain store, compared to just 28 percent who would target local stores.
"What they're shoplifting tells you a lot about why they're shoplifting," Schulz said. "These generally aren't thrill-seekers looking for an adrenaline rush or a big score. These folks are taking things that they really, really need, things like food and clothing and even makeup."
Overall, grocery, department and convenience stores remained the top spots for shoplifters to target, and the majority, 52 percent, said they got away with their crimes.
"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."
LendingTree also found that among Americans, financial insecurity was up 6.7 percent from 2022, and 36.4 percent of households had problems paying for necessities like food, housing and healthcare.
Kevin Thompson, a finance expert and the founder and CEO of 9i Capital Group, said the increased social media presence and lack of penalties also contribute to the higher rates of shoplifting across America.
"Many people just get away with a warning and even less are actually arrested," Thompson told Newsweek, adding that retailers could end up making major changes as a result of the lost inventory.
"If this trend continues, prices will likely go much higher as retailers adjust pricing to offset losses," Thompson said. "Retailers will also pass through higher security costs, insurance premiums, and may adjust pricing due to increased theft. The most inevitable outcome will be a complete online presence of the entire retail industry."
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