Store Execution | Operations | Merchandising | Loss Prevention
Shrink is a real threat to retail success. 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! Here’s the kicker: Most businesses are actually reducing their investment … Continue reading 5 Tips to Reduce Shrink in Retail
Just because one retailer may be smaller than another, that does not mean they have any less responsibility regarding their security. Whether it be from a break-in or a cyber-attack, most retailers will experience some form of a security breach. Regardless of the method the breach might take, the effect may be devastating. With retailers … Continue reading Security Tips for Retailers
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. Industry data shows that security issues in retail aren’t slowing down. The NRF's latest retail security survey found that overall shrink in retail is trending up. … Continue reading How to Establish Security Measures and Procedures for Your Retail Stores in 6 Steps
Loss prevention is a very real challenge for retailers. Shrinkage is a problem that costs retailers billions of dollars every year. Yet businesses are using tools and technologies to prevent shrink less and less. If you consider the loss associated with shrink, it’s often two-fold: Not only are you losing the capital that you invested … Continue reading Loss Prevention: A Comprehensive Guide for Retailers
To assist brands beginning a new audit or loss prevention program, Compliant IA regularly publishes how-to guides, best practice content, and advice from retail experts. With “shrinkage” amounting to 1.7% of gross sales for the average North-American retailer, the financial stakes are high. Use this sample checklist as a guide to minimize theft, fraud, vandalism and … Continue reading Loss Prevention Checklist for 2020
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 2019, and how … Continue reading Loss Prevention Challenges in Retail
To assist multi-unit retailers starting or improving their retail audit program, Compliant IA regularly publishes how-to guides, best practices and checklists. Use this sample checklist to create or update your loss prevention program across your parking lots. Loss prevention is a set of policies and procedures designed to minimize theft, fraud, vandalism and waste. General … 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 Store 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