Loss Prevention Procedures are the Glue that Prevents Retail Theft
- Employee theft is always the most likely suspect in large inventory loss
- Shoplifting loss is the most controllable expense, but needs a plan
- Loss prevention procedures reduce employee theft and shoplifting
- Interview by Mike Bederka with Small Business Smarts
Podcast Time Stamps:
[02:30] — Retail security consultant can help design loss prevention procedures
[03:15] — Interview begins with Mike Bederka at Small Business Smarts
[03:30] — Employee theft and shoplifting account for most inventory loss
[04:30] — Existing staff not always suitable following a large inventory loss
[05:20] — Many owners feel they cannot control chronic shoplifting
[06:30] — 99% of customers act similarly while shopping; Shoplifters do not
[07:20] — How can a retail stores eliminate shoplifting blind-spots
[08:58] — Excellent customer service is best solution to thwart shoplifters
[10:00]— Watch for areas frequently used by shoplifters for product staging
[11:05 ]— Genuinely greet every customer by looking at them in the eye
[11:35] — Keep all merchandise “faced” on the shelves to spot missing bottles
[12:35] — Some liquor store serial shoplifters always steal the same items
[15:15] — Best run stores train and enforce detailed loss prevention procedures
[16:05] — Employee thieves like to blame bad inventory loss on shoplifters
Loss Prevention Procedures with Reduce Employee Theft and Shoplifting Losses
Loss Prevention Procedures Cut Inventory Loss
- Liquor, wine, spirits, and beer super stores as large as 25,000 square feet
- People under 21 years are sometimes excluded from browsing in a store
- High retail prices make bottles of liquor, wine, and spirits a theft target
- Loss Prevention Procedures are your tools to reduce inventory shrinkage
- Procedures need to be clearly defined, well articulated, and enforced
- High standards in hiring, training, and closely supervising employees is required
- Holding employees accountable for accurately following procedures is key
- Loss prevention procedures provide the audit trail needed to check performance
- Inventory control requires consistent execution of loss prevention procedures
- Shoplifting occurs in a store you own, control, and set the rules of engagement
- Shoplifting occurs when liquor store staff are passive and inattentive
- Well-organized liquor wine spirits specialty store displays helps spot bottle loss
- Technology is the back up not replacement for good loss prevention procedures
Related Loss Prevention Procedures Articles & Podcasts
- Convenience Store Security and Loss Prevention Briefing
- 10 Things Loss Prevention Agents want Shoplifters to Know
- 10 Things Shoplifters Don’t Want You to Know
- Shoplifting Advice: Retail theft of merchandise
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