Retail Loss Prevention Tips
By The Peter Berlin Report on Shrinkage Control
January 16, 2004
If your shrinkage exceeds 1.5 percent, download the PDF below of retail loss prevention tips. It covers procedures for sales floor, cash wrap, shipping and receiving, and handling merchandise and money, plus preventative measures to minimize shoplifting and employee theft. There's also a section on training and managing employees to prevent shrinkage.
In the museum retail industry, shrinkage below 1.5 percent of net sales is just part of the cost of doing business, according to Andrew Andoniadis of Andoniadis Retail Services.
However, retail theft is on the rise. The National Retail Security Survey based on 2001 sales found that 48.5 percent of retail loss is due to employee theft, 31.7 percent is a result of shoplifting, 15.3 percent is the fault of an administrator and 5.4 percent is from vendor fraud.
Because touching is a great contributor to selling, the solution is not to lock merchandise behind glass; but you should take steps to curtail theft in your store.
Information provided by The Peter Berlin Report on Shrinkage Control - Store Managers Edition. The Peter Berlin Retail Consulting Group, Inc., 380 North Broadway, Jericho, NY 11753. Telephone: (516) 932-0450. Reprinted with permission.
Retail Loss Prevention Tips (PDF)
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