Retailers Lose a Whooping 107.3bn to Shrinkage

Tweet A few years ago, I worked as a store detective for one of UK’s leading retailers. On my first day on duty at a store in Camberley whilst still being briefed by the officer I was to relieve, a couple walked into the store and headed for the coat section. The lady removed one of the coats from the hanger, tried it on and casually walked towards the exit...

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Security Industry Authority Is Facing the Axe as Part of Government’s Cost Cutting Measures

Tweet A few months ago, my partner’s laptop was stolen right outside her house. The laptop contained all of our company information. When she called me, I chased the culprits but was unable to catch up with them. While on the chase I called the Police, as usual, they came about an hour later. Even though we lost the data on the computer, it was not as...

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Could You Help Me Out By Taking My Survey?

Tweet Hi everyone, Can you help me by taking my online survey, I want to develop a product for retail loss prevention and  shrinkage management, I will really appreciate your insight and experience. Please complete the survey link below for me. http://www.surveymonkey.com/s/HS5M7MG Thanks Romeo

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How to Prevent Shoplifting

Tweet The Reverend Tim Jones, the parish priest of St. Lawrence and St. Hilda in York last year advised his congregation to shoplift if they found themselves in hardship. In his statement, he said: “I would ask that they do not steal from small, family businesses, but from national businesses, knowing that the costs are ultimately passed on to the rest of...

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How to Reduce or Prevent Retail Employee Error

Tweet The theory of constraint states that there is a single variable that when addressed can significantly improve the performance of any organisation. I would argue that in the retail industry, the single variable that is responsible for the success/failure of most retail businesses is the quality of their staff. What makes the difference between a successful...

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The Most Effective Retail Loss Prevention Methods

Tweet 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 an in increase sales and reduction in shrinkage. This concept has so far been non-existence in the retail industry where the focus has always only been on increasing sales and hoping that the...

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