Retail Detail. The Five Finger Discount is on the Rise

June 19, 2008 • Shopping


As to be expected with such a heinous economy, retail theft is on the rise. We all want new clothes, but it’s not worth stealing for. Shoplifting is not cool. Ever. According to an interesting article in today’s USA Today, retail theft is estimated to cost about $40.5 billion per year. Oh, and the rest of us, already squeezed by higher gas and food prices, end
up paying for it. Someone has to pay the bill so stores pass on much of their losses to customers in
the form of higher prices. Gee, thanks.

Gangs of professional thieves account for $15
billion to $30 billion in retail losses every year, the FBI and the
retail federation estimated in 2005.

This year, 85% of retailers said they thought
they’d been victims of criminal enterprises in the past 12 months,
according to a survey the retail federation released this month.

Luckily, my mother scared me off shoplifting for good when she caught me stealing a pack of Trident (what a loser) at the tender age of 5. After that my life of crime was over. You don’t want to piss off my mother.

Read the full article "More consumers, workers shoplift as economy slows" here.

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