During the 2016 calendar years, the average retail business inventory shrink rate increased from 1.38 percent in 2015 to 1.44 percent, according to information from the National Retain Security Survey of 2017. A total of 37 percent of all retail inventory loss was the result of shoplifting by outside customers, which was followed by employee theft at 30 percent, administrative errors representing 21 percent and vendor fraud, five percent. The total worth of all this lost inventory was $48.9 billion.
While you may be using anti-theft tags and video surveillance to deter theft, this may not […]
If you are the owner or manager of a retail store, then you already understand how important it is to create a safe and secure environment for your workers, as well as your customers and vendors. You also understand why it is necessary to take steps to prevent losses and reduce shrinkage.
If you are searching for a few new tips to help create a safer, more secure retail location, you’re in luck. Here you can learn some practical tips that have been proven effective in a retail setting.
Install Security Equipment
Perhaps the most important thing […]
Believe it or not, each year, businesses all across the U.S. lose a significant amount of money due to shoplifting. If you have a retail store, you are likely painfully aware of this fact.
While there is no way to completely eliminate shoplifting, there are ways you can prevent these nefarious individuals from taking advantage of the five-finger discount.
The absolute best way to prevent shoplifting in your store is to stop it before anything is stolen. While this is easier said than done, there are some methods that will allow you to get the upper hand regarding […]
Each year, shoplifting accounts for millions of dollars of loss for businesses all across the country. Some of the most common items stolen include watches, jewelry, music, books, clothing, and even car parts. While installing a security camera can help to identify suspects after the theft occurs, there are quite a few things a retailer can do to prevent shoplifting from taking place in the first place.
Some actionable tips that can help all types of retailers include:
Greet customers as they come into the store.
Watch for the customers who avoid eye contact, linger, are constantly looking […]