What Every Retail Brand Ought to Know About Loss Prevention–Part Thirteen
What Every Retail Brand Ought to Know About Loss Prevention–Part Thirteen Retail Loss Prevention Profit in any business requires an increase in income and decrease in expenditure. The same theory applies to the retail industry. To make profit in retail requires increase sales and reduction in shrinkage. This concept has so far been missing in […]
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What Every Retail Brand Ought to Know About Loss Prevention–Part Twelve
What Every Retail Brand Ought to Know About Loss Prevention–Part Twelve Retail Loss Prevention This series of articles breath fresh air into the concept of retail loss prevention or profit protection. We move away from the tough guy approach adapted by many loss prevention experts, which is brought about by the perception that shrinkage is […]
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What Every Retail Brand Ought to Know About Loss Prevention–Part Eleven
What Every Retail Brand Ought to Know About Loss Prevention–Part Eleven Retail Technology Retail loss prevention technology is evolving on a massive scale, therefore, it is possible that within a few years, any new technology may be obsolete. Retail loss prevention technology will bring benefit if only it diminishes a constraint and improves productivity. Before […]
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What Every Retail Brand Ought to Know About Loss Prevention–Part Ten
What Every Retail Brand Ought to Know About Loss Prevention–Part Ten Shoplifting Prevention Even though in many retail arenas shoplifting is considered another word for shrinkage, we are of the conviction that if retail price brands focus on the other aspects of their shrinkage, they can easily influence the effect of shoplifting in their stores. […]
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What Every Retail Brand Ought to Know About Loss Prevention–Part Nine
What Every Retail Brand Ought to Know About Loss Prevention–Part Nine Non-Perishable Shrinkage Non- perishable goods such as groceries, health & beauty and general merchandise, on average, make up about 60% of a store’s sales. Damage, theft and accidents are the most notable cause of non-perishable shrinkage. Non-perishable shrinkage can be classified as: Known Shrinkage […]
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What Every Retail Brand Ought to Know About Loss Prevention–Part Eight
What Every Retail Brand Ought to Know About Loss Prevention–Part Eight Perishable Shrinkage It is the retail perishable department which distinguishes one supermarket from another. Product availability, freshness and quality all contribute to the competitive edge one supermarket has over another. It is estimated that customers will spend 8% of their grocery outgoings in a […]
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What Every Retail Brand Ought to Know About Loss Prevention–Part Seven
What Every Retail Brand Ought to Know About Loss Prevention–Part Seven Retail Receiving Receiving shrinkage accounts for an estimated 10% of their shrinkage, which is an average supermarket amounts to over £30,000. Supplier fraud and employee theft is responsible for the vast majority of receiving shrinkage. The receiver plays a vital role in any retail […]
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