Attentive and helpful employees can deter shoplifters. This gives staff a good chance of spotting shoplifters before they leave the store, and also serves as a deterrent if thieves know they have one last hurdle to pass before exiting. It could be a fraudulent product return, shoplifting, or a break-in. Learn how using our software-specific feature walk-throughs and how tos. Given the cost of inventory, it’s worth investing in systems that can help combat shrinkage and loss due to theft. info@infoentrepreneurs.org. Knowing how to build a strong virtual team is more important today than ever -- and there are six critical things you must do to succeed. Easily save this report to your computer or print it at any time. It’s a good idea to make your deposits during the day and vary the time and the route you take to get to the bank. Make sure that you can easily see all parts of the store. Weebly continues to attract and keep loyal users thanks to its user-friendly design and constant upgrades. Locks and Padlocks. Below, we go through 10 loss prevention tips to help you limit shoplifting in your retail store. Windows should have … Installing surveillance cameras can also reduce your insurance premiums in some cases. H2Y 3X7, 514-496-4636 | 888-576-4444 Inventory management features found in retail POS systems help retailers track inventory and spot shrinkage patterns. Looking for a different set of features or lower price point? Are you paying more in taxes than you need to? However, your staff should not only be aware of the tricks that shoplifters use to get away with stealing but also how to deal with shoplifters once they’re in the store. https://www.infoentrepreneurs.org/en/protect-your-business-from-theft/. You’ll be getting our best advice soon! Zoho Recruit combines a robust feature set with an intuitive user interface and affordable pricing to speed up and simplify the recruitment process. The right product depends on who you are and what you need – but regardless, you want the best. That’s how we make money. Use inventory management tools to identify your most expensive inventory, and work out a plan to protect these items. Montréal, Québec, Canada There are steps you can take to protect your assets and minimize opportunities for both internal and external theft. Please try again. Source: Insight security. It includes a very wide variety of applications focused on sales, marketing and customer service. Are you wondering how you can guard your business against theft? That’s why our editorial opinions and reviews are ours alone and aren’t inspired, endorsed, or sponsored by an advertiser. Good retail inventory management practices will also help minimize shoplifting. Shoplifting is an industry-wide problem, and no store earns a 100% no-theft rate. L'équipe d'experts en information d'affaires de la chambre de commerce du Montréal métropolitain EN, © Chamber of Commerce of Metropolitan Montreal formerly known as Board of Trade of Metropolitan Montreal. CCTV cameras aren’t just effective inside your business, they can … Suite W204 (mezzanine level) Enter your email below to access our (no-strings-attached) free report, "The Ultimate SMB Guide to Building High-Performing Virtual Teams.". Learn how to get started in retail arbitrage with these tips. Knowing the most common ploys and behaviors shoplifters employ will help you be on guard in your own store: Each store has its own ideas about how to display products and design their floor layout, but there are several ways to optimize store layouts to help prevent store theft. You can purchase anti-theft mirrors of all sizes, shapes, and angles of visibility to use in your store. Be clear and consistent when communicating your policies regarding internal theft and deal with any issues quickly and fairly. A theft prevention plan helps you assess potential risks and can be used as a tool for training your employees. This kind of information gives retailers insights into how to beef up their retail theft prevention techniques. By continuing to use this website, you agree to our Privacy Policy and the use of cookies to offer you content and services tailored to your interests. Thank you for signing up. All staff should know how to spot scams such as price switching and false returns, and they should also know about standard anti-theft protocols, such as the size of bags allowed in your store. They’re also a low-cost method of shoplifter prevention for retailers on a budget. Locks on all outside entrances and inside security doors should be double-cylinder deadbolts with... 2. For the past 25+ years, The Motley Fool has been serving individual investors who are looking to improve their investing results and make their financial lives easier. When items are left in the wrong sections and inventory is not organized well, it’s difficult to identify when products have gone missing. Find out what you need to look for in a retail management solution. Shoplifting is a thorn in the side of all retailers. Shoplifters are constantly coming up with new ways to thieve without getting caught. However, avoid overstocking display shelves or units with too many products, so you can clearly view how much stock is out at any one time. Trying to decide between two popular software options? See how your choices perform when evaluated side-by-side. Keep track of your inventory and investigate any discrepancies. While you can’t prevent 100% of shoplifting incidents, use these tips to make it more difficult for would-be thieves to successfully steal from your store. Inventory shrinkage due to shoplifting, errors, and fraud cost retailers around $46.8 billion in 2018, so preventing shoplifting is at the top of any retailer's mind. These signs usually inform people of installed cameras, whether the store is part of a local anti-theft group, and that shoplifters can expect to be prosecuted. Security camera systems have a threefold purpose: they act as a deterrent to shoplifters; they allow staff to monitor the whole store and people who might be acting suspiciously; and if shoplifters do steal, there will be evidence identifying them to help with prosecution. There was an error signing up. the resumption of your activities. Steps 1. Implement a shoplifting policy that details how staff are expected (and not expected) to act when it comes to dealing with shoplifters. Click here for more information. Choosing the best applicant tracking system is crucial to having a smooth recruitment process that saves you time and money. Freshworks CRM software caters to businesses of all sizes. There was a problem connecting. Develop procedures that minimize the opportunity for internal theft (such as hiring an independent bookkeeper or occasionally checking the books yourself). Not sure how to use a particular tool in your software solution? Internal theft is committed by someone inside your business. We may receive compensation from partners and advertisers whose products appear here. Our full review breaks down features, customer support, pricing, and other aspects of this platform. That's why we've created this ultra-timely 19-page report on what you should be doing now to set your virtual team up to win. 3. These days, smaller brick-and-mortar retailers face several growing challenges: the rise of e-commerce competition, disruption and uncertainty caused by the COVID-19 pandemic, and many others. Please verify that the email is valid and try again. CRM software helps businesses manage, track, and improve all aspects of their customer relationships. For example, a retail software system might show that a large number of a certain item has gone missing in the last month, and this item might be both easily swiped, and currently placed in a low visibility area. Provide excellent customer service. For example, the person responsible for receiving cash should not be responsible for reconciling receipts. Mirrors are great tools to reduce blind spots and increase visibility of both products and people in both large and small stores. For example, below, Smartsheet visualizes the common ‘grid’ store layout, which places the checkout at the exit/entrance of stores. Tips for preventing external theft: Provide excellent customer service. This review will help you understand what the software does and whether it’s right for you. Separate employees' duties. Embed regular tidying and stock organization tasks into your everyday practices, and even more so during busy retail periods such as Christmas, Thanksgiving, and Black Friday. This can involve placing items in lockable cabinets, placing items close to the counter, or placing them in a highly trafficked area of the store that’s always manned by a staff member. In this article, we go through 10 loss prevention tips to help businesses prevent shoplifting. This should include knowing how to alert other members of staff and management of potential shoplifters via a “code” or announcement, knowing when they should and shouldn’t approach suspected shoplifters, and when to alert police and security guards. Learn how real businesses are staying relevant and profitable (and are even growing) in a world that faces new challenges every day.

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