We show that an important classical fixed point invariant, the Reidemeister trace, arises as a topological Hochschild homology transfer. This generalizes a corresponding classical result for the Euler characteristic and is a first step in showing the Reidemeister trace is in the image of the cyclotomic trace. The main result follows from developing the relationship between shadows [Pon10], topological Hochschild homology, and Morita invariance in bicategorical generality.