Shrinkage is an ongoing concern for every retailer. Using multiple types of theft prevention techniques will do the most to minimize your losses. So, check out these easy tips to limit shrinkage and maintain your profits.
You can’t know if anything is missing if your shelves and other displays are a mess. Besides, clutter turns off legitimate customers. Experts recommend “facing” items on shelves – creating an even line of merchandise along the front edge – so you can quickly see gaps. Restock or pull items forward to retain the facing.
If you sell products prone to shelf-sweeping (a popular theft practice of grabbing multiple items at once), you can look into specialized dispensing units that deter this behavior.
From faux cameras to sophisticated surveillance and tagging systems, there are many tech-driven theft prevention options to meet your needs and budget. Non-electronic technology such as difficult-to-open packaging and Palmer Retail Solutions’ CELLMATE for mobile devices can help, too.
Posting signs that announce your intention to prosecute shoplifters can be an excellent deterrent. Wording should reflect your type of store – you can be blunt or soften the wording (but not the message) with humor. Signs with an eye motif are twice as effective. Experts suggest placing signs near your entrance and also up high, where thieves would look for cameras.
Actions that enhance customer experience also put potential shoplifters on guard:
Theft prevention starts with awareness. Although you may experience a random “snatch and run” type theft, most non-employee losses will come at the hands of experienced shoplifters and/or theft gangs. Learn to identify the telltale signs:
We hate to think it, but employee theft can be devastating. Tell your people you expect 100% honesty and don’t make it easy for anyone – staff or “shoppers” – to steal.