Talk to any retailer and they will tell you that shopper theft is a serious problem year round and worse at Christmas. From stealing complete items off the shop floor to removing items or parts from packaging and taking what they want to defrauding you of cash at the register, it’s expensive to the business as well as disheartening.
Our work with retailers in a variety of retail channels has helped us develop some simple advice to help retailers cut customer theft. This advice is as relevant at Christmas as at any time of the year. Here is our advice:
- Know what is being stolen. This is the most important step by a long shot. If you know, you can take steps. How do you know? Spot stock takes are the best approach as they quickly advise the difference between what you have in stock compared to theta your smart POS software tells you. We have free training and advice sheets that help with this. A spot stock take can take a few minutes. Once you know the problem, act by managing the stock involved differently.
- Scan and track everything. This act alone shows to your employees, customers and yourself that you take inventory seriously.
- Issue receipts for every sale. Never give a refund or exchange without the receipt.
- Require that amount tendered is entered in your POS software. This reduces shopper fraud at the cash register.
- Have your security software integrated with your POS software. This makes it easier to track events.
- Inspect bags. This shows shoppers you are serious.
- Test yourself. Hire a security expert and see what they can steal without being caught.
Cut the cost of shopper theft in your retail business with these tips and tight shop floor management.