Identity theft spurs shredder sales.

• Author: Swartz, Nikki
• Position: Up front: news, trends & analysis - Information management - Brief Article

The rise in identity theft has given a boost to the shredding industry. An estimated 27.3 million Americans have been identity theft victims over the past five years, including 10 million in 2003 alone, according to the Federal Trade Commission.

Last year, sales of shredders jumped 50 percent at Staples and 30 percent at Office Max, according to CNN.com Shredders are one Of Staples' hottest-selling items, with 1.3 million units sold in 2003--a more than 50 percent increase from a year earlier. According to a Staples spokesperson, the market potential for shredders is huge because the current household penetration is only 20 percent.

Fellowes Inc., which makes shredders, reported its sales were up 25 percent. Commercial shredding is also booming, as many companies have become...