With thanksgiving behind us and Christmas just around the corner, this is the busiest shopping season of the year, it is also the time where people do a lot of stealing. Retailers call it inventory shrinkage, the police call it shoplifting, but what you may not realize is the cost of shoplifting is passed on to you.
It's a problem that costs retailers billions each year. The numbers coming from this year's national retail security survey are staggering. More than $25 billion was lost because of theft last year.
That makes retail theft the biggest form of property theft in the U.S. and the holidays pose the most inviting target for thieves. And while the shoplifters get away with the goods, it's you who ends up paying the average family of 4, will pay about $440 this year in price increases caused by theft.