MEMPHIS, TN (abc24.com) - You may be paying more this holiday season thanks to shoplifters. According to a recent study by the Centre for Retail Research, a global research company, U.S. retailers will lose nearly $9 billion dollars in stolen goods. The study shows the lost revenue is passed on to you, the customer. It will cost nearly $100 more on each family's shopping tab.
Employees at Hubbard's Hardware on Summer Avenue in Berclair say theft has picked up the last couple of years. According to Centre, shoplifting across the U.S. is up by 4 percent.
"It hurts us real bad for a small business like Hubbard's Hardware," said employee Leonard Neely.
Researchers say shoplifters take around $3.8 billion dollars worth of goods every year. Hubbard's Hardware employees say it's worse during the holiday season when it's crowded with shoppers.
"We keep our eyes out on people just keeping in the back and on to the side. We have cameras everywhere,” said Neely.
The store has 12 cameras in all including 3 hidden cameras. Researchers say thieves steal high-demand goods like electronics, jewelry, and yes, even hardware supplies.
If you're thinking about getting a "five finger discount" think again. If you steal anything worth $500 or less it is considered a misdemeanor in Tennessee. You can spend 1 year in jail and pay up to $2,500 in fines. If you steal something that is worth $500 or more it is a felony. You can also spend up to 6 years in prison and pay up to $3,000 in fines.