3 Ways to Reduce Shrinkage in Your Retail Store
You can begin to track retail theft in your retail POS solution. The sad story about retail is that around 50% of retail theft can be traced back to employees, not shoplifting, and could go on for months without being noticed. The point I’m trying to make is that you could have a silent partner who is ripping you off on a regular basis right under your nose. To spot this type of behavior quickly, run regular reports from your retail point of sale system and look for unusual trends. Install video surveillance throughout the store and monitor all exits. Employee thieves often hide stolen merchandise in the trash and retrieve it after the store is closed. Reward your honest employees for telling you when they notice someone stealing; you can catch a bad apple before too much damage is done. By following these simple yet effective suggestions, you probably won’t completely eliminate retail shrink, but you can keep it to a minimum.
