Do you mean 'right of passage' as in 'has to be done as part of growing up' - no - or 'very common behaviour for teens? In which case, yes. I bet most kids do it. Run thru your adult friends/relations and ask... Then ask all the older teens you know... BITD it was Woolies; now it is pound shops and Home Bargains. Peak ages seem to be 12-14, presumably because before that they are with their parents, and after that they get arrested.
But there's a big difference between pinching something from a pound shop for a dare, and stealing a PSP from a friend. Friends DO sometimes steal from each other's houses - I have had it happen to me several times, and several times more I *thought it happened, but it turned out to be my own son. :( Keep an eye on that, because IME it's linked to early drug use: they want to buy cannabis but of course don't have enough income to support the habit, so sell their own possessions or steal others' to sell. :(