Theft in retail stores is at an all-time high with some stores facing as much loss as two to three percent of total sales. Hardware stores are not immune to this rise in retail loss. With much of the inventory in these retail establishments being high-value, hardware stores are at an incredible risk when it comes to loss due to theft. However, making a few changes can make a difference.
How to Prevent Theft in Hardware Stores
Take a look at how to prevent theft in hardware stores with tested strategies known to make a difference.
1. Know Which Items Are Most At Risk
For hardware retailers, certain items are more at risk of theft. Assess your store’s inventory, evaluate prior theft events, and examine product shrinkage. This will help determine which valuable items are most at risk and where resources should be allocated for the most protection.
2. Ensure Your Staff is Knowledgeable
Your staff can be the first line of defense when it comes to shoplifting and theft. Sales associates may be aware of specific power tools or hardware brands that are targeted. Sharing this knowledge with other sales associates and management can help to reduce theft. Employees should be made aware of the signs of shoplifting to stop it from occurring.
3. Schedule Enough Coverage
A well-staffed store is less likely to have issues with theft because employees are more present. With more coverage, there are fewer ‘dead zones’ in a hardware store where theft can easily take place. Just their presence alone can make a difference, but this also means more sets of eyes monitoring the merchandise.
4. Make Use of Mirrors and Surveillance
Visibility makes a major difference. If parts of your store are not visible to employees or are more obscure, be sure mirrors and surveillance cameras are in place to provide more visibility.
5. Implement Anti-Theft Devices for Hardware Stores
In hardware stores where so many items are on display, utilizing on-site security devices for retail displays can be used to deter theft. Implementing RTF Global’s complete security solution in store displays is a strategic way to prevent theft. Our complete security solution includes:
- Security display recoilers that use aircraft cables and provides a high level of deterrence.
- Wall adapters that come in various styles that can easily be implemented into current retail displays like slatwalls, pegboards, or unistrut.
- The cable lock that is used to secure the aircraft cable in place and stops the cable from fraying.
Find Merchandise Security Devices to Protect Your Hardware Store
The best theft-prevention strategy starts with planning. At RTF Global, our experts have been partnering with hardware retailers for decades to create loss prevention plans that are effective at reducing theft. Our retail security devices are easy to install, tough to remove, and can be customized to your current retail displays. Reach out to us today and discover how we can help reduce theft in your hardware store .