The Stunning Reason Why Tools are More Expensive than Ever Before, and What's Being Done About it...
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- Опубликовано: 27 июл 2024
- If you have been out shopping for tools recently, you have probably been surprised by a few things. First, prices are higher than ever before. Sure, inflation is a factor, but there is something else going on that has a huge impact and in this video I explain what is happening and what is being done about it.
#tools #diy #diyhomeimprovement
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Please note that some of the links above are affiliate links and at no additional cost to you I may earn a commission. Know that I only recommend products and tools that I’ve personally used and/or believe are genuinely helpful, not because of the modest commission I may receive should you decide to purchase one of them. Most of all, I would never advocate for buying something that you can’t afford or do not need. 
Хобби
I'm retired law enforcement. They used to have security in these stores and they would chase down and detain shoplifters. Then they began to worry about civil liability. Now, they just basically let them walk. Society and attitudes are part of the problem with a soft judicial system in the mix. It has become a complicated problem that, as with most things, just puts the burden on good folks to carry the "shrink", inconvenience, etc. I think a lot is lost through self checkout as well but they don't want to admit it for various reasons. Just pass the cost on to the consumer, problem solved for them. But not for you.
Great comment. Thank you for your insights!
I would rather see them tighten up security and actually stop some of these thefts from happening. I personally saw someone carry two large tv's out of Walmart , alarms blaring , and go straight to their car and drive off. I got their tag number and gave it to a store employee, but with the way they were acting, I don't think they cared. I don't like the idea of "activation". I want to buy something that I can do what I want with. This seems like, in the future, if you don't pay for that extended warranty renewal, it could "stop" working.....
So Lt you are correct, when my daughter worked in retail (6 years ago) they were told not to stop anyone shoplifting, to just let them go.
Problem now is that one cannot find a store employee in a reasonable amount of time to unlock tool bins. Now, if I buy a tool, I have most recently have used customer pickup to get my tool. Much less time then trying to find a store employee to unlock tool bins. To me it seems that there are less employees around to help customers.
Even more reason why we should shop for high-ticket items online.
A big part of this issue is that most of these stores no longer have cashiers to save those salaries and instead trust customers to do self checkout. This allows for vastly easier theft for those who want to be dishonest. You can't have your cake and eat it too when it comes to profit and loss.
I'd be interested as to the shrinkage loss of a place like Harbor Freight that doesn't have self checkout or too many tools locked up. Might be an interesting follow-up video...
1. Stores won't drop prices unless they absolutely have to.
2. An RFID/Bluetooth "killswitch" seems like a point of failure that could be exploited by hackers.
Retailers should offer significant discounts for customers who are willing, during a shoplifting event, to perform mercenary work.
I can see all kinds of problems with some kind of "tool activation process" and in the long run I can't see how it will save money for the retailers. Now on that thought, if I bought one of those tools and someone stole it from me can I send out some kind of deactivation signal so it's useless to the thief ? I still think the cost to add all that capability won't make the tool cheaper .
Great points, thanks for sharing.
They won’t drop their prices because of these measures because they have essentially ran the mom and pop stores out of business and in most cities they are their own competition, so there’s no reason for them to drop the prices. I suppose the bigger cities have multiple big box store companies but what’s to stop them from getting together like gas companies and setting prices?
Sad that inventory control has come to this point but I support the retailers on taking these security measures.
It is sad, isn't it.
Thank you Dave for sharing all this information with us.
I apologize for not leaving comments because I know that it Definitely helps with the Algorithm. I’ve been subscribed for a while and enjoy your channel.
I also like that you don’t overdo the amount of videos you put out.
I’m very happy with the amount you do.
Have a great week.
Blessings, Carlos ✝️🙏❤️😊❗️
Thank you so much!
I personally don't mind being walked by an employee to the cashier or self-pay aisle with an expensive power tool. Last time (in Home Depot), the sales guy was great, we had a spirited conversation both while I picked the tool I wanted, and on the way to the registers. I understand the frustrations of many who just want to get their stuff, pay, and go. But, after seeing many videos of thieves loading a cart and just boldly walking out the store (with multiples of expensive tools), I totally get it. Theft is a HUGE problem in the US-- I once personally saw a guy walk out of Walgreen's with FOUR 12-packs of beer he didn't pay for. The cashiers hollered at him, but he just waved and said "Bye".
Waaaa. It's a hassle. When I started working in the hardware department about 8 years ago, they had gates and tools locked up. That was removed because it "inconvenienced the customer". Is it an inconvenience when you want to buy something, the website says the store has it, but they don't because it was stolen!
That's a great point.
It sounds worse than negative. It sounds like a society in **rapid** decline.
Very unsure about this. Love the info in the video and I understand the issues the retailers are facing, but damn. That's a lot the honest consumer has to cover
Thanks again for all the info, Dave. Good job!
Thanks!
Instead of adding more cost and complexity to tools & devices, why not stop the theft by enforcing the law. I don’t think there has been one case of a prisoner stealing tools from Home Depot, even if they did, the guards would notice a hand drill or table saw in the prisoner’s cell.
Before knowing that authentic Ryobi rechargeable tools come only from Home Depot in my area, I bought a "new" Ryobi impact wrench from Big A. Upon arrival, it fell out the box in pieces with no factory wrapping, manuals or accessories. It definitely wasn't new, but it may well have been stolen. There are hundreds of similar sellers on that site, all of whom use the same verbiage snd imagery. I got a full refund and learned a valuable lesson. Buyer beware!
Interesting! Thanks for sharing!!
Great information 🤙🌺🐗🦎👍
Thanks for watching!
I find it hard to believe they can add a BT/RFID tag to a drill and make it inert. Most of these devices are for lack of a better term "analog" and can be re-wired, this sounds like an elaborate bluff.
And as soon as they have that activation chip in your tool how long until you have to pay a monthly activation free just to use your tool..... Watch some Louis Rossman to see where we are headed.
I think any chance of a store to stop theft is a good idea.
Offer a $100 gift card for stopping a shoplifter and it will stop within days. I've never seen this in my red county, ever.
Red county? How about trump? The twice impeached anal obstruction rapist spray tanned cheating above the law waste of skin?
I remembered working nights at Home Depot before the cages 😂 😂 now they talking about a lifetime Ban and jail time
The pressure tp raise minimum wages and even to unionize retail jobs has prompted corporate to come up with all sorts of creative solutions. Self check out seems to be the answer. Lowes, Home Depot, Walmart have all invested heavily. The solution?? CUT employee Wages . The amount of theft loss, as big as it is, is a mere pititence compared to employee wages and annual benefits. These corporations are all screaming huge losses due to theft. Locking up half of their merchandise to illustrate their deep concern. Holding back on checkers so lines grow along with customer frustration. Then when they open self check out the customers view this as a step in the right direction.......our society has devolved in many ways but you can't blame the public for corporate schemes and greed. Box stores are competing with online giants like Amazon. Brick and mortar stores are a hell of alot more expensive than brick and mortar warehouses. Corporate goals to improve return to investors: cut cost. Eliminate all unions. Cut employees skilled jobs. Pay all employees bare minimum wages. This isn't based on changing societal changes and needs. This is continued fall out from the worst pandemic we have ever seen, followed by the recession that seems almost as a normal event after a long lasting period of time people were under such socialization restricting rules. Retail had to be hit hard . Losses must have been huge.
Why would the stores lower prices when they could simply keep the profit from reduced loss?
Good point. They could, but it depends upon competition. If companies are able to reduce losses, then they can afford to lower prices enough to encourage more sales and try to gain market share from competitors. They won't lower prices just because.
I agree with Dogbert, corporations have gotten greedy because they’ve pushed the mom and pop stores out of business. They are their own competition in most cities.
Blockchain tool records sound really innovative
Can you do an update on lumber prices?
Definitely.
I feel honored something because last time I checked well over 70% of lost bike that was by employees whether that was somewhere between distribution center all the way to staff in store. The background checks are expensive. I don’t think it’s a vibe with you and I think it’s invasion of peoples privacy.
While the RFID idea is a plausible one, defeating RF ID is a very simple matter for anyone who knows anything about telecommunications engineering even computer science. Sure it’ll stop the low-level people that these crime syndicate‘s hire wife, people hooked on drugs, people who are desperate for money, and such, however, this will push the theft to an initial law, and then drive sophisticated, intelligent, very well equipped death rings into motion, and the loss will become far more than once today
Here is something I've noticed just recently. Shortly after Lowes or Home Depot opens, usually on a sleepy Sunday morning, a group of illegal aliens will enter the store, spread out, take whatever they want, and walk out the door. Virtually no one is around to stop them. As long as we have open borders, this will continue to escalate. Have also seen this happen with large groups of homeless, usually when the store is closing down for the night. Why do we have laws if we don't enforce them? FJB!
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Wow. Do they have signs saying "illegal alien" ? Or are you just maybe a little predjudiced? Like your other maga buddies? And please don't worry about President Biden. It's Mr. Trump that will be getting f' d in prison. 🤯
Yo, even used tools are way too expensive despite use and condition...
You know when the people that are paid by the retailers to study their retail loss it's in their best interest the massively inflate some numbers and you know until you show me some independent studies by people that aren't paid by these people then you're just kind of being a spokesperson for these corporations honestly. Look at those CEO in stockholder dividends if you really want to see what these prices have been raised over. Got to do a little bit of actual research guys not just believe what the head of loss prevention of Lowe's opinion is his paid for opinion by Lowe's
Definitely needed the way these thieves are nowadays. No us honest tool buying people will probably be inconvenienced by this process but like anything else we'll get used to it.
Very sad. Law enforcement isn't doing their job.
Or they do and the DA's don't prosecute the scumbags thus no penalties and essentially incentives them to continue to steal. Get rid of the weak district attorneys and judges.
Smaller towns USA are less prone to loss. But with all the illegals entering our area I see this as problem. Not because they are Illegals but Jobs are not available in small towns.
If it can be activated it can be deactivated. Unless the bluetooth device is removed from the tool , I won't be buying one. Treble damages & cort cost payed by the merchant if my tool shuts off might convince me that would never happen but I believe it's already been an issue. The good old days ended with the computer takeover. You don't even control electric seat you payed for in new car or your thermostat if you have a smart meter. Wait till AI gets control of us. Welcome to the dystopian world
.JUST PUT GARDS AT THE DOOR why don't you.
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