„Billions In Losses”: Retail Crime Has Surged 93% In Progressive Cities

America’s great cities once symbolized prosperity and culture. Now, many are paying a steep financial price as crime surges and businesses flee. As one line in a new op-ed piece put it, “Crime has a balance sheet. In poorly led cities, that balance sheet is bleeding red ink by the day.”

Retail is bearing the brunt, according to an op-ed by Ted Jenkin at Fox News. The National Retail Federation (NRF) reported U.S. retailers lost $112 billion in 2022 due to theft, up from $94 billion in 2021. Between 2019 and 2023, shoplifting incidents rose 93% and dollar losses climbed 90%. Major chains are pulling back: Target projected $500 million in additional losses this year, Walgreens has shut stores across San Francisco, and Nordstrom left downtown entirely.

“Does it seem insane to you that so many of these retail stores have to lock up much of the merchandise…knowing that they will never be arrested?” the piece asked. The fallout is visible in empty storefronts and shrinking city budgets. San Francisco’s downtown vacancy rate has hit 34.8%, erasing jobs, tax revenue, and foot traffic.

Shoplifters in Maryland

The damage extends beyond retail. In Chicago, violent crime and open-air drug markets are dragging down high-end condo values, reducing property tax revenue that funds schools and infrastructure. In New York, incarceration costs $925 per day, or $337,000 annually, per inmate, while NYPD overtime bills soar. Yet, critics argue leadership continues to recycle a costly “arrest, release, repeat” cycle.

The column says that tourism is also slipping. Roughly 2 million fewer international visitors are expected in New York this year, a shortfall that could cost the city $4 billion in 2025. Conventions and vacationers are steering clear of destinations perceived as unsafe, draining hotels, restaurants, and local economies.

The bottom line: the cost of crime is far more than what’s stolen off a shelf. It shows up in lost jobs, falling property values, higher taxes, and weakened reputations. As the piece concludes, “the real crime isn’t just happening on the streets – it’s in the budgets of poorly led blue cities, where the cost of chaos is measured in billions.”

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