In retail today, every dollar counts. Shrink has a significant effect on a retailer’s bottom line. A recent study by the National Retail Federation (NRF) found an average shrink rate of 1.44%, costing "the overall U.S. retail economy $48.9 billion.” Below a list of 4 loss prevention challenges retailers are facing in 2018, and how … Continue reading Loss Prevention Challenges in 2018
Category: loss prevention
Loss prevention is a set of policies and procedures designed to minimize theft, fraud, vandalism and waste. Methodology: This checklist was compiled from publicly available sources and moderated using industry research and our experience with the retail and parking industries. Notes to Compliantia users: Checklists can easily be imported into your Compliantia account using the … Continue reading Loss Prevention Checklist for Parking Operators
Focusing on operational standards, safety, and customer experience isn't just for retailers. Too often parking operators neglect reviewing standards and best practices until there is a problem (e.g. broken gate, slip and fall, theft). By 2019, revenues from parking management are expected to increase to just over $9 billion! Building owners and managers can lose … Continue reading 3 Types of Audits Parking Lot Operators Should Conduct
Conducting store audits should be on the to-do list of every retailer, and for good reason — retail audits help you uphold company standards, improve operations, and promote a safe in-store experience. But what exactly are the types of audits you should conduct and how often should you do them? More importantly, how can you … Continue reading 3 Types of Audits Every Retailer Should Conduct
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
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 of criteria for visiting/auditing stores in the context of loss prevention. Methodology: This checklist was compiled from publicly available sources … Continue reading Loss Prevention Checklist
