Tag Archives: loss prevention

The average store loses nearly $47,000 (or 1.6% of sales) each year to shrinkage, according to the 2022 Cost of Doing Business Study from the North American Hardware Association (NHPA). That’s enough money to hire another employee, buy a delivery …

Costing businesses money and peace of mind, shrink takes a toll on the retail industry, especially on independently owned and small- and medium-size businesses. The National Retail Federation’s (NRF) National Retail Security Survey 2022 discovered retail shrink, which includes organized …

In its annual retail survey, the National Retail Federation (NRF) found that retail shrink is an almost $100 billion problem. NRF’s Retail Security Survey is an annual survey of retail loss prevention professionals that covers national retail security issues such …

There’s much more to discover from the October 2022 edition of Hardware Retailing. Browse the links below to uncover new innovations, trends and resources to lead your operation to success.

From organized smash-and-grabs to employee embezzlement and fraud, retailers have been reeling from an increase in asset and product loss since the start of the pandemic. Theft and fraud have always been an unfortunate part of the retail scene, but …

Theft, fraud and shrinkage can wreak havoc on a business, with the 2021 National Retail Security Survey reporting that the average dollar loss increased from 2019 to 2020. The average loss for shoplifting was up 71%, and dollar loss from …

While shoplifting receives most of the attention when looking at shrinkage, internal theft and fraud also account for a large percentage. While the National Retail Federation (NRF) doesn’t track the data anymore in its annual National Retail Security Survey, in …

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 …