There’s a chill sweeping much of the country right now, and we’re not talking about the weather. 

Many of the nation’s retailers – those who managed to survive the grim reaper of bankruptcy over the past 12 or so months – are keeping their doors open with trepidation. 

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Much of this can be chalked up to a rise in inventory shrink, or the industry term for theft and loss of product. According to the National Retail Federation (NRF), the average national shrink rate rose 1.4% in 2021 and 1.6% in 2022. Numbers for last year aren’t out yet, so we can look to recent fiery comments by a handful of CEOs to take our bets. 

Target  (TGT) – Get Free Report CEO Brian Cornell told analysts on the August Q2 earnings call that the chain has seen “an unacceptable amount of retail theft and organized retail crime.” 

“Shrink in the second quarter remained consistent with our expectations but well above the sustainable level where we expect to operate over time,” he added. 

“We do think that in some jurisdictions here in the U.S., there needs to be action taken to help protect people from crime, including theft,” Walmart  (WMT) – Get Free Report CEO Doug McMillon echoed the same month, adding that shrink increased both in 2022 and 2023 but is worse in some parts of the country.

So some of those locations in question are taking drastic measures to stave off further losses.

Target, Walmart locations locking up more inventory

Large cities have seen some of the biggest increases in retail crime since 2019. Many urban areas have seen double digit increases in theft, and critics began eulogizing San Francisco for its softness on crime and inability to combat flight from the city as a result.

So the retailers that have remained are beginning to take matters into their own hands.

Both Walmart and Target are now locking up underwear and other undergarments like socks in stores to prevent shoplifting, NBC Bay Area reports. 

Previously, high ticket and in-demand items like electronics, personal care products and food has been locked up in drugstores and big box retailers, but to some customers, locking up underwear is a bridge too far. 

“I’d be very upset,” one shopper said. “I got to call somebody to come up from the counter to get socks.”

Target locations in Richmond and Pleasant Hill, Calif., in the San Francisco Bay Area are reportedly locking up undergarments, and at least one Hilltop Walmart location in Richmond began taking similar measures after employees said it was suffering from theft on a daily basis. 

And paying customers say they are waiting upwards of 10 minutes for their items to be unlocked. 

Target, for its part, said “on a limited basis, we employ theft deterrent merchandising strategies, such as locking cases, for categories that are prone to theft.”

Large retailers have been calling on local lawmakers to step up and work to help prevent the rising issue. And Richmond City Council member Cesar Zepeda acknowledged the issue, though has not presented much of a plan to fix it. 

“The cost will go up as residents will have to pay more of they’ll have to commute and travel farther to pick up their groceries, to pick up their socks, to pick up their prescriptions,” Zepeda said. “It’s really going to be hurting our community.”