Thieves Steal What They Can Sell, Like Soap and Razors

By Mike Dang March 25, 2014

Alex Mayyasi noticed that the bars of soap at his Walgreens in San Francisco were locked up. If he wanted say, some bars of Dove soap, he had to ask an employee to unlock the case for him. Why was this? He looked at this question for his latest post at Priceonomics.

The answer, simply enough, is that “everyone uses soap, so it’s easy to sell on the street.” In the same vein, razors are also a popular stolen item, as is laundry detergent.

Products like cigarettes and soap perform some of the major functions of money very well. Since there is a consistent demand and market for them, even when they’re not on store shelves, they retain their value. (Unlike an iPod, they never become obsolete.) Since they have standard sizes, they can also be used as a unit of account. You can pay for something with one, five, or ten packs of cigarettes depending on its value. In areas where fences or other buyers are always willing to purchase stolen products like soap, it’s just as good as money.

For thieves, the ubiquity of a product and the presence of a large illicit market for it is more important than its actual retail value. Small time burglars can’t keep stolen goods in warehouses, waiting for a buyer and marketing products to people willing to pay a premium for a unique item. It may seem surprising that Walgreen keeps some of its cheapest items locked up, until you realize that thieves care more about an item’s ubiquity in illicit markets more than its retail price.

A few years ago, one of my friends had his apartment burgled and the thieves took some obvious things: his Mac laptop, for example, and a couple of nice watches. They also took a six-pack of toilet paper.

When the police arrived and heard about the toilet paper, they exclaimed, “The T.P. Bandits!”

Photo: Canned Muffins

Support The Billfold

The Billfold continues to exist thanks to support from our readers. Help us continue to do our work by making a monthly pledge on Patreon or a one-time-only contribution through PayPal.