Ten tips for retail loss prevention

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Retail loss prevention is important in all types and sizes of stores. Shoplifting and employee theft is a large part of retail loss and has a serious impact on your bottom line. 2014 shoplifting was estimated to be as much as 31% of retail inventory loss! Therefore, it is about time to take measures for loss prevention. Here are some useful tips for you.

Visible Store’s Design

• Keep your sales floor so that you have a good overview of all areas. Avoid too many tall billboards that obscure the view.
• Use mirrors to eliminate any blind spots.
• Keep tabs on the number of items taken into the dressing rooms.
• Use Warning Signs
• Place a sign that says “Shoplifters will be prosecuted”, on your front door as it is the first place shoppers look.
• Place another sign up high, where shoplifters will most likely check for surveillance cameras.
• Signs featuring eyes have been proven to double the likelihood of compliance.

Visible Security Systems

• Let the criminals know you are watching them by seeing themselves on television when they walk into the store.
• Let your security systems be visible to customers, whether it is cameras or mirrors.
• Inform customers by a signs that their actions may be caught on tape.

Protect High-Value Products

• Display high-value items, like DVD-players and TV´s, in full view of store associates.
• Control “grab and go” shoplifting by situating the items far from the door.
• Stock only a few at a time on the shelf or store floor.

Dispenser Solution for Small Premium Items

• Invest in a dispenser shopping solution, for ex Vensafe for the small premium products, like razors,
  cigarettes, medicines.
• The dispenser makes the customer pay before they get the merchandise.
• When high-valuable products are impossible to shoplift, thieves disappear.

Engage your Staff

• Talk to your team about a retail loss prevention strategy.
• Let employees walk the store and engage with customers
• Advise your staff what suspicious behaviour to look for and which items are attractive to steal.

Constant Awareness

• Pay attention to shoppers and monitor shopping activity.
• Identify common shoplifting methods and traits.
• Floor staff should be alert and make suspicious customers aware of their presence.

Target Employee Theft

• Ask your employees about their job satisfaction and let them feel valuable.
• Have a strict reconciliation policy about what to do when there are discrepancies.
• Create a culture of honesty.  Tell all your employees that they should report it if they see any criminal behaviour.

Prevent Credit Card Fraud

• Do not enter the credit card into the system manually.
• If it is a card that needs a signature, make sure the names match.
• Educate staff about buying and behavioural trends among people who is using a stolen credit card. For instance, they often purchase merchandise that is easily re-saleable on the street, make multiple purchases of the same item and are eager to transact the sale quickly.

Keep an Eye on the Self-Check-Out Area

• Always maintain employee resources at the SCO.
• Do not try to catch a customer who pretends to scan an item, try to help instead: “Oh I think this item did not beep. Let me help you!”
• Use Scan-It-All, a loss-prevention solution that uses video technology to monitor POS systems.