Ten tips for retail loss prevention

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 percent 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 behavior.

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 behavioral 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.