It depends on if your dealing with shop security or the police( a lot of big chains have an always call the police policy), my experience conforms to yours in that minimum wage workers won't be that bothered if they catch you if you return the items, and will probably just give you a ban

With the police I think it's up to the discretion of the duty sergeant whether to charge for low value thefts, but I have a relativity extensive 'rap sheet' and the local pigs aren't my biggest fans so that's probably why the decided to do me over such a small amount