Retail theft or shrinkage can significantly impact your bottom line. It has been revealed through research that more than 35 million dollars鈥?worth of goods are stolen from the retailers almost every year. In fact
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It is not always possible for the small business retailers to take advantage of the technology that the big retail houses can usually take care of. Whether it is the door scanners, security cameras or facial recognition system
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Since shop-lifting has a crippling effect on the retailers, here are some tips that will help to keep shop-lifting at bay. Just read on how it can be achieved.
Create a Preventive Strategy for Shop-Lifting 鈥?You need to create a loss prevention strategy if your retail store is new. For the existing retailers
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Should you deal with the problem in house?
Should you involve the police?
You can opt for a stipulated price threshold for taking further actions like you should call the cops when the stolen goods cost over Rs. 6000 or $100.
Organize the Store and Opt for the Mirrors and Signs 鈥?The majority of the shoplifters steal almost impulsively. Several researches have been conducted in this regard and it is revealed that more than 70 percent of the shop-lifting incidences are not premeditated. Hence the shop-lifters are much less likely to act on impulses, if there are appropriate deterrents in place. Here are some of the ways that will help you to arrange the retail store in a way that discourages shop-lifting.
Arrange the displays in a way that does not go too high or divides the store visibility
You should have open floor layout so that the entire store is visible
You should have the checkout in the front of the store and not at the back of the store
Keep the most easily stolen items nearer the cash counter
Arrange the lighting in such a way so there are very few dimly-lit areas
Design the shop in such a way that the cashier has a clear line of sight throughout the shop as the shoppers checkout
Train the Staff to be Aware 鈥?Your employees happen to be your foremost as well as your ultimate line of defense at the time of theft. You should train the staff to be aware of the suspicious areas like customers lingering in a particular area for an unusual amount of time or customers taking a huge pile of clothes into the dressing room just after browsing for a couple of minutes.
Research reveals that shoplifters often work in pairs and creates nuisance like one partner may feign a fainting while the other is shop-lifting as all the attention of the staff and the entrepreneur gets diverted to help the person in distress.
It is recommended to create a zero-tolerance policy against shop-lifting and make all new employees sign it. Such a policy will lead to enhanced employee vigilance and will let them know why loss prevention is vital for the bottom line.
The above are some of ways to prevent shop-lifting in retail stores that has a tremendous effect on the shop inventory and turn-over. These methods are recommended by the renowned retail chain Store 99 India that has been in the industry since many years now and know exactly how to thwart these kinds of activities that can have adverse effects on the store inventory as well as the success of the retail business in the long run.
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Get your own entire family involved in fitness by having a family fitness day once each week. Get involved in a football, baseball or soccer game with neighbors and several other friends.
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