Inflation has driven up prices at supermarkets, car dealerships and even restaurants across the country. A new study finds it’s also the main reason for another recent spike: shoplifting.
More than 20% of Americans admitted to stealing items from stores in the past year, according to a new survey from personal finance website LendingTree, which polled 2,000 U.S. consumers ages 18 to 78.
Of those who admitted to recently stealing from a store, about 90% said they did so because of inflation and the current economy. Specific reasons included prices becoming unaffordable (34%), to help make ends meet (30%) and to help save a few dollars (27%).
“Many people are struggling with rising prices and are resorting to somewhat desperate measures to get by,” Matt Schulz, LendingTree’s chief credit analyst, said in a statement. “With inflation still lingering, that’s not likely to change anytime soon.”
LendingTree’s investigation follows a recent report from the Council on Criminal Justice, which found that shoplifting increased by 24% in the first six months of 2024even though reports of other crimes have decreased.
The U.S. Federal Reserve has long been battling the U.S. economy, trying to bring headline inflation down to an annual rate of 2 percent. Inflation has indeed slowed somewhat this year, but Consumer prices rose 3.3% in May and 3% in JuneThese percentages translate into consumers paying higher prices each month for basic necessities like food, household goods and services.
Certainly, retailers have long been concerned about an increase in shoplifting, particularly so-called “break-in and kidnapping” incidents Thieves break windows to steal valuables like electronics and jewelry. But LendingTree’s survey sheds some new light on why Americans are now committing retail thefts at a much higher rate.
Nearly half of shoplifters surveyed, or 52%, said they stole from chain stores. A smaller number, 28%, said they stole from smaller, local stores. Grocery stores are considered the easiest places to steal, according to 46% of respondents.
The most common items shoplifters steal are food and nonalcoholic beverages, which 45% of people who say they shoplift admitted to stealing. Clothing, accessories or jewelry, and makeup or cosmetics, according to the LendingTree survey, which polled 2,000 U.S. consumers ages 18 to 78.
“What they shoplift says a lot about why they shoplift,” Schulz said in the statement. “These are typically not thrill seekers looking for an adrenaline rush or a big hit. These people are stealing things they really need, like food, clothing and even makeup.”
To combat the rise in retail theft, some companies have have equipped their employees with body cameras to detect crimes in real time, as other major retailers turn to other forms of technology. As reports of retail theft continue to rise, State leaders are also putting pressure for more policing and tax credits to improve security.
