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How to reduce losses caused by theft at POS

Bob Violino | March 27, 2015
Retail theft is a huge and costly problem for the industry. According to the "Global Retail Theft Barometer 2013-2014," released by Checkpoint Systems in October 2014, total shrinkage among retailers in North America was $42 billion for the time period covered by the report.

If the offender fails to complete the program the retailer has the option to file a criminal complaint. If the offender doesn't want to participate in the retailer's program or is ineligible due to prior illegal conduct, the matter is referred by the retailer to the criminal justice system, a company spokesman says.

CEC encourages participating retailers to reach out to local law enforcement before implementing the program, in an effort to keep them informed and to gain their support, the company says. Since its inception more than 20,000 participants have gone through the program.

Create the right corporate culture. Anti-theft technologies and tactics are helpful, but they're not enough.

"All the tools in the world are not a replacement for the most critical foundation needed to prevent, isolate and resolve retail losses, and that is a corporate culture focused on mitigating loss," says Keith Aubele, president & CEO of Retail Loss Prevention Group, a consulting firm.

"When a top down ownership/executive C-suite culture exists that truly understands loss impact via shrink to profitability, as well as the many negative societal outcomes from retail crime, then true prevention can occur," Aubele says.

This cultural element "is key, in that once the basic barriers to loss are mitigated by employees who understand the impact of loss through training, awareness, reinforcement, and partnership, it's then that sound tools can be deployed with greater impact," Aubele says. "Essentially, get your house in order first before looking for external help."

 

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