Target has finally reached the breaking point after allowing black shoplifters to have a four-year reprieve from consequences for their actions. Ever since the George Floyd terrorist attacks against America in 2020, Target has been allowing black shoplifters to freely steal up to $100 in merchandise. After Target lost a ton of money to institutional shoplifting in 2023, the company’s board of directors has decided that this needs to change.
Official company policy in the Age of George Floyd has been that Target employees are not allowed to intervene or stop a black shoplifter if they have less than $100 worth of merchandise on them. Effective immediately, store employees and security guards are allowed to stop thieves if they have more than $50 of merchandise on them.
Target has been warning its woke DEI investors for years that “shrink” is eating into the company’s profits. “Shrink” is inventory loss that primarily happens due to theft. Target lost roughly $800 million to shrink in 2023, which was a $500 million increase over the prior year.
It doesn’t help that progressive lawmakers in blue states have basically legalized shoplifting. The California legislature made it illegal to stop a shoplifter if they have less than $950 in merchandise in their cart.
The National Retail Federation says that shoplifting cost stores in America $93 billion in losses in 2021, and $112 billion in 2022. Target itself has now lost $1.3 billion in profits since it decided to allow shoplifting.
If you’re a business owner, you might want to write this down. Allowing people to shoplift your merchandise without consequences will cut into your profits! Maybe someone should add that pointer to every Business 101 textbook for MBA programs.
