Dec 12, 2023
California has launched an offensive against the “brazen” criminals causing chaos in the state’s retail sector by injecting over $267 million into local law enforcement agencies to help them crack down on smash-and-grab robberies.
The funding will be split between 55 local law enforcement agencies across the state — with 41 sheriffs’ and police departments, along with one probation department, being awarded up to $23,663,194 each. Thirteen district attorney offices will also each receive up to $2,050,000 to prevent and investigate organized retail crime and arrest and prosecute more suspects.
Advertisement
“Enough with these brazen smash-and-grabs,” California Gov. Gavin Newsom said in a statement on Sept. 12. “With an unprecedented $267 million investment, Californians will soon see more takedowns, more police, more arrests and more felony prosecutions.
“When shameless criminals walk out of stores with stolen goods, they’ll walk straight into jail cells.”
Retailers have had enough
Retailers in California have been struggling to cope with the recent surge in criminal activity — which is seriously stinging their bottom lines.
As a result, some stores have resorted to securing certain items with padlocks and chains, or they’re locking up high-theft items behind plastic casings, while others are upping their security, resulting in a major inconvenience to honest shoppers and workers alike.
But for many retail giants, enough is enough. Several of them have closed up shop and left theft-prone areas in recent months.
Must Read
- Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — are you doing the same?
- Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how
- Robert Kiyosaki says this 1 asset will surge 400% in a year and begs investors not to miss this ‘explosion’
Join 250,000+ readers and get Moneywise’s best stories and exclusive interviews first — clear insights curated and delivered weekly. Subscribe now.
An industry-wide problem
The issues plaguing California aren’t isolated to the Golden State. According to a study from the National Retail Federation (NRF), organized retail crime is growing in both scope and complexity across the U.S.
Many cities have seen retail store closures in recent months — with rampant crime being just one of the major factors in this.
In addition to theft concerns, retailers across the U.S. are also struggling to regain the same levels of foot traffic that they enjoyed pre-pandemic — partly due to rising costs and the sustained popularity of remote work, which has reduced footfall in downtown shopping areas.
Correction, Dec. 12, 2023: An earlier version of this story incorrectly stated that the NRF estimated “theft” was costing the retail industry $100 billion. In fact, it estimated that “shrink” was costing the industry $100 billion. Shrink refers to loss of inventory and can include, but is not limited to, theft.
You May Also Like
- Turning 50 with $0 saved for retirement? Most people don’t realize they’re actually just entering their prime earning decade. Here are 6 ways to catch up fast
- Inside a $1B real estate fund offering access to thousands of income-producing rental properties — with flexible minimums starting at $10
- Vanguard’s outlook on U.S. stocks is raising alarm bells for retirees. Here’s why and how to protect yourself
- Here are 5 easy ways to own multiple properties like Bezos and Beyoncé. You can start with $10 (and no, you don’t have to manage a single thing)
Bethan Moorcraft is a reporter for Moneywise with experience in news editing and business reporting across international markets.
