COVID-19 is causing many retail stores to temporarily close their doors to the public. With the situation changing so quickly, it can be easy to overlook important details while you rush to respond. To help you make the closing process safe and orderly, here is a sample Temporary Store Closing Checklist to go through the … Continue reading Temporary Store Closing Checklist
Every year, businesses across the globe lose around $100 billion to shrink, and the average shrink rate of 1.44% in the U.S. costs American retailers $48.8 billion annually. That’s a lot of money left on the table! This means implementing methods to reduce shrink in retail should be a priority.
A comprehensive list of security tips for retailers you can follow to help ensure your stores are secure against physical and online threats.
In retail, even the slightest lapse in safety and security can spell disaster. Theft, fraud, and data breaches can put a sizeable dent on your bottom line… and reputation. This is why it is important to establish store security measures across your locations. Industry data shows that security issues in retail aren’t slowing down. The … Continue reading How to Establish Security Measures for Retail Stores
We’ve put together comprehensive Loss Prevention Guide for retailers, including the main causes of shrink and what you can do about it.
Loss prevention is a very real challenge for retailers. Shrinkage is a problem that costs retailers billions of dollars every year due to external theft, internal theft, and administrative errors. Regularly using a Loss Prevention Checklist across your locations ensures compliance with policy, reinforces training, and demonstrates loss prevention is a priority for your business. … Continue reading Loss Prevention Checklist
Mid-sized to large Real Estate Investment Trusts are more vulnerable to fraud in their parking operations than smaller property firms and the effects can be more devastating to the bottom line. The types of fraud that property owners and managers need to be aware of generally fall into four categories: cash theft, validation theft (discount … Continue reading 7 Easy Steps to Help Identify Fraud in a REIT’s Parking Operations
In retail today, every dollar counts, and loss prevention challenges are very real. Shrink has a significant effect on a retailer’s bottom line. In fact, a recent study by the National Retail Federation (NRF) found an average shrink rate of 1.44%. This costs "the overall U.S. retail economy $48.9 billion.” This is why we put … Continue reading Loss Prevention Challenges in Retail
Loss prevention is a set of policies and procedures designed to minimize theft, fraud, vandalism and waste. Use this sample Loss Prevention Checklist for Parking Operators to create or update your loss prevention program across your parking lots and sites. General Record date of the last LP Audit Location has a key control log for … Continue reading Loss Prevention Checklist for Parking Operators
Regular parking lot inspections/audits help you be proactive (not reactive) and solve problems before they are liabilities.
Here are three types of store audits you should conduct and how often should you do them to keep your stores operating in top condition.
The holidays are just a few short weeks away and we know that you and your staff are working hard on sales, promotions, and other seasonal programs. Before rolling out your initiatives, ask yourself: are you working just as hard to minimize loss in your business? While the holidays bring in more customers and sales, … Continue reading 4 Loss Prevention Tips to Help You Keep All Your Holiday Profits
Use this sample Loss Prevention Checklist to create or update your loss prevention program across your locations. Loss prevention is a set of policies and procedures designed to minimize theft, fraud, vandalism and waste. With "shrinkage" amounting to 1.7% of gross sales for the average North-American retailer, the financial stakes are high. Below, a list … Continue reading Loss Prevention Checklist