Not pursuing "small" - quoted because up to $950 is rather big chewing gum really - crimes creates wrong incentives, and it skews general culture of (dis)respect to law, and property. Essentially normalizing bad behavior will inevitably affect bigger crimes happening. Taking into account that it especially influences youth (breaking rules is cool enough when you're teenager, if you can shoplift without punishment it starts to look like an invitation) we are witnessing a crime problem growing for a at least a generation ahead.

EDIT: "chewing gun" to "chewing gum". Guns are usually not chewy for certain.