KEY POINTS
- Shoplifting and theft continues to hurt big retailers and chain stores, but it’s even harder for small businesses still trying to recover from the pandemic.
- A spokesman for the National Retail Federation said if someone comes into a store and steals below that state’s federal theft threshold, it’s highly unlikely that law enforcement will go after them.
- Some small business owners say they’re losing thousands of dollars each month, and won’t submit every claim to insurance out of fear of being dropped.
- They’re taking matters into their own hands – like charging a 1% crime spike fee on all transactions, stepping up security, and as a last resort, shutting down completely.
They are brazen, aggressive and seemingly acting without a care in the world.
Shoplifters are hurting big retailers and chain stores, even reportedly forcing some locations in New York City and San Francisco to close up. But unlike many big retailers that can absorb the loss, some small business owners say the crime wave is devastating to their business. Especially now, with many still recovering from a global pandemic.
″[When] you see … several thousand dollars just walk out the door – there really aren’t words that you can put to a situation like that. It’s just tough. It’s very, very difficult,” said small business owner Derek Friedman.
Friedman, who owns two retail clothing chains in Colorado and Texas – Sportsfan and Sock Em’ Sock Emporium – said four out of his 10 stores in the Denver area have seen a significant increase in theft since mid-2019, with losses totaling more than $200,000 in less than three years.
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