In a recent survey shoplifters and dishonest employees claimed that discount stores are considered one of the easiest targets. This may be due to lack security systems along with a relatively untrained staff. It was also revealed that new shoplifters often use discount stores as a training ground to better learn how to steal. In other words shoplifters gain experience at the expense of the discount retailer before moving onto higher end stores.INCREASE YOUR PROFITS BY REDUCING YOUR LOSSES
Nobody really wants to think about being ripped off, but this may very well be happening in your business. One also would not think that a “Dollar Store” would fall victim to a substantial amount of losses. But in reality when you consider shoplifting, combined with employee theft, several hundreds of your dollars maybe walking out your door. And at the end of the week/month/year this can really add up. Statistics reveal that the average retailer will suffer between 1 – 8 percent of gross sales in shoplifting losses and internal losses (employee theft) maybe even greater. Now at first glance this may not appear to be substantial until you do the math. Of course you can add a few cents onto each item and pass the shrinkage cost to the consumer, but in the long run that could backfire as it will make you less competitive and it certainly does not deal with the underlying problem.
Why are thieves targeting Discounters, such as the “Dollar Stores”?
In a recent survey shoplifters and dishonest employees claimed that discount stores are considered one of the easiest targets. This may be due to the lack of security systems along with a relatively untrained staff. It was also revealed that thieves new to shoplifting often use discount stores as a training ground to better learn now to steal. In other words shoplifters gain experience and get comfortable with pocketing items at your expense before moving onto higher end stores.What should a Dollar Store Retailer do to Minimize Losses?
Often it may not be practical, or cost effective to spend a vast amount of money on a sophisticated security system or security personnel, but there are a few simple methods for reducing losses and keeping more money in your pocket. The key is not to get known as an easy target because thieves often will share information about who they consider an easy mark.
Biography
After losing a business to shoplifting and two years later being a victim to a shoplifting assault FJ Tarasoff made a commitment that he would help retailers protect their assets as well as the safety of all staff members. Twenty years later, Tarasoff is a leading authority in retail loss prevention, he conducts training workshops on various loss prevention techniques, including shoplifting and intenal theft and is the developer of “The Shoplifting Prevention Program” an affordable online training program. He has also been interviewed by numerous media outlets including, The CBC, The Globe and Mail, Small Business report, Hardware Magazine, Grocer Magazine, GlobeandMail.Com, Canadian Retailer and is a member of Retail Loss Prevention professionals Group, Security and Loss Prevention for Retail Industry and the UK Loss Prevention Group.
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