Think you’re the only one dealing with retail crime? The good news: you’re not alone. The bad news: 96% of retailers surveyed reported being a victim of retail crime, which accounted for inventory loss of $44 billion in 2014.
Theft can be curtailed by utilizing technology to improve training targeting loss prevention. Interactive diagrams shared on mobile apps provide detailed methodologies for how to keep your store organized and how to stock shelves to prevent inventory shrinkage by quick-handed thieves. That’s the kind of loss prevention that actually works.
Valuable time is spent training store managers and employees to recognize when something fishy is occurring and to know how to react. However, this information gets stale quickly as thieves become more conniving and mix up strategies.
With real-time communication across all stores, managers and employees have access to information on current trends and can share best practices. Alerts and information can be shared seamlessly so it’s easier for any employee to spot trouble.
The challenge with sending alerts and operational guides on paper, in emails, or as PDF files is that you never get feedback or metrics on what’s been read and by whom, let alone if there’s any correlation between training and loss prevention.
The best way to figure out what’s working is to track information across stores. When you can see which stores are doing better than others and which employees have reviewed loss prevention materials, you can analyze what works and what needs improvement based on real numbers and outcomes, not guesses.