After a long and contested election cycle, a new president will be inaugurated and with this result, some experts are predicting the economy will begin to improve significantly. If the rebound is as strong as these experts are predicting retailers will be one of the beneficiaries, with an increase in customers and sales. Likewise there may also be more shoplifting activity that takes place. An increase in sales would seem to make sense given that there would be more people with jobs and potentially more money in their pockets, but why would there be an increase in shoplifting? There are a couple of possible explanations, for example during those periods when the economy is slumping retailers tend to order less merchandise. The result is shelves may stay empty longer or there may be fewer high ticket goods available for criminals to steal. Less product displayed can translate to less opportunity and opportunity is one of the necessities for a theft to take place. There is also the chance that with fewer customers in a store, employees are more readily available to offer customer service to shoppers and this is certainly a deterrent to shoplifters. One of the first recommendations I always make for improved shortage results is for a store to focus on customer service.
Along with increased sales and the potential for more shoplifting, what are some other things you can anticipate with an improving economy? You may find you are in need of more employees to help in your store. Cash stands that may not have been very active could start to see new life as lines begin to increase. Customers don’t want to wait for service so it is important to have enough staff to meet the demand. Sales floor coverage will likely be stretched thin again impacting shopper perception of wait time. Hiring could be crucial and in an improved economy you could be fighting for talent. Don’t settle on a warm body, ensure you conduct pre-employment screenings so you can be confident that the person you hire is the right fit for your team and has no hidden skeletons in the closet.
An improving economy means more transactions and that means cash registers have more money in them and credit card swipes. Make sure credit cards are the only thing being swiped and then only during the
customer transaction. More cash in a register is a tempting target to an employee who may be experiencing a personal financial crisis. Make sure your front end or cashier supervisors are doing random cash drops at the registers, taking most of the money and leaving enough in to continue ringing sales. Watch for cashiers who may be tempted to swipe a credit card and forget to hand it back to the customer. If you see credit cards lying beside a register, question where it came from and pick it up and retain it in a lost and found.
Anticipate the need to replenish shelves more quickly. During slow economic times merchandise doesn’t always sell quickly and so filling empty spaces on shelves and fixtures may have been able to wait until the next truck load of freight arrived. If sales improve as predicted it is important to have plans in place to address “holes” more quickly. Prepare to monitor for out of stocks during the day and get it refilled from your stockroom quickly. If you are selling a lot of vendor supplied product, such as soft drinks, bread, cereals and snacks, etc., partner with your vendor representatives to increase deliveries and representative visits.
If you require an increase in floor replenishment, don’t forget to protect product with retail anti-theft devices before it gets to the selling floor. Remember I mentioned there could be increased shoplifting with an improving economy. It is easy to overlook the protection of merchandise as it flows from the stockroom. I should note that I would prefer to see merchandise protected as it arrives to the store, but some stores do wait until it gets sent to the sales-floor before applying Checkpoint tags and labels.
The potential for growth in sales is exciting for retailers. Don’t miss the boat by not being prepared for it. Have a plan to meet the needs of an expanding customer base. Be ready to fill your sales-floor and don’t forget to prevent shoplifting by protecting your merchandise before it gets to the floor. Going green will take on a whole new meaning in the coming years!
Have you been keeping up with the news? It appears the stock market is on the verge of breaking new records. People are gaining confidence now that some economists are expressing optimism that we are about to see a jump start in economic growth. Does that mean EVERYONE is going to benefit? Unfortunately, the answer is no. There are many people who will continue to work in their current jobs and experience little personal benefit in their own eyes. What do I mean, “In their own eyes?” Just this, there are some people who are not satisfied with their job, or financial situation, or any number of things in their life and do little or nothing to try to change that. What they WILL do is get jealous when they see others who do well. It may be a co-worker who gets a promotion, a friend who has received a pay raise, a relative who has purchased a new car, there are lots of things that people can get jealous over. Sometimes this jealousy turns into an attitude of “Keeping up with the Jones’s” and can result in someone engaging in dishonest activity so they can have new things too. Frequently those who steal because they haven’t gotten that raise or promotion will try to justify their actions by rationalizing that they deserve it and aren’t being recognized for their contributions.
Many stores, public places, and government
Police Departments across the nation are busy this holiday season launching operations aiming at catching shoplifters.
s level, but your bottom dollar. When people have a problem, they research a solution. One way to prevent shoplifting is having an electronic article surveillance system installed by a reputable company. Searching for such a company can be daunting. Shoplifting is an issue that needs to be addressed and resolved quickly. Why would you choose Checkpoint equipment from Loss Prevention Systems Inc. (LPSI?)
nce and typically resolve potential issues. With its strong frame and Evolve capabilities, it will last a long time and is “future proof”.
Can you believe we are in December already? This year has flown by and we’re in the home stretch. For many, many small and large businesses alike, this next month is crucial to profitability. Often times, the 4
In the previous article, I gave some great tips on how to prevent and prepare for a robbery. Like many things, it’s impossible to provide a solution that is all encompassing. After I penned that article I couldn’t help but think that there was more that I could share; more that I should share. I draw on over a decade’s time spent in the LP field and this is one of those topics that I just can never stress enough to my store managers. So, what else can you do to limit a robbery and/or cash loss?
It’s official folks. It’s December and the year is almost over. It also means that you’ve probably hired some additional help around the store. Whether they be temporary, part-time or full-time employees, they all have one thing in common; they have the potential to steal from you. I hate to sound so cynical, but I’m a realist. With December historically being the biggest month for internal theft, I’d thought I’d share some of my tips on how to spot a potential dishonest employee.
