Posted: Dec 8, 2011 6:52 PM by Trovette Tottress
Updated: Dec 8, 2011 8:41 PM
It's the biggest shopping season of the year. But with more shoppers comes the risk of more shoplifters. During the holiday season shoplifting cases peak which costs retailers billions of dollars, which could be passed on to you.
"When we aren't making the necessary profits, we're having to accommodate in the prices in our garments to make up that difference", said Ryan Roberts, manger of Joseph A Banks at the Promenade Shops at Briargate.
And in a fragile economy, lost profits can also have a devastating affect on employees.
"What our profits help us do is pay for staff members to be here (and) to be able to provide the customer service that we like. When we start to lose out on that end, we start to lose on the employee end.", said Ryan Roberts.
And retailers are not the only one's affected. Shoplifting also takes sales tax revenues from local government, and it burdens police and the courts.
"The calls for service generally take the officers probably anywhere from 45 minutes to an hour an a half. So that's time they can be doing something else to benefit the community", said Lt. Pat Rigdon with Colorado Springs Police Department.
According to the National Association of Shoplifting Prevention, more than $13 billion dollars worth of goods are stolen from retailers each year. That's 35 million dollars a day.
Managers like Ryan hope shoplifters will think before they act.