Theft, fraud and shrinkage can wreak havoc on a business, with the Coalition of Law Enforcement and Retail estimating retail crime will top $45 billion in annual losses this year. Discover how fellow hardware and paint retailers handle theft and fraud issues with these loss prevention best practices.
“My policy on theft is to provide excellent customer service to suspicious ‘shoppers’ with backpacks and heavy coats with lots of pockets. We also train staff to understand that shoplifters can work in teams to create distractions and will take advantage of short staffing later in the day and shift changes.”
—Geoff Saunders, manager of Van Well Building Supply
“We believe the best way to combat shoplifting is 100% engagement with our customers, but this has proven not to be enough. We have an odd layout to our store where the back door to the lumberyard has been a main thoroughfare for theft. We have staff staged in half-hour intervals to check tickets at the back door.”
—Todd Callan, COO of HomCo Lumber & Hardware
“The first thing we did when we took over the business was to add security cameras with 24-hour monitoring and recording and have positioned some of the easier to conceal and more expensive items near our front counter. We also speak about theft prevention with our team at regularly scheduled store meetings and ask them to always be aware of what could happen.”
—Danny Garcia, owner/partner of Pintura Paint Store
Discover more loss prevention best practices here.