It’s clear that inventory loss or shrinkage can affect your bottom line as a manager or owner in a retail setting, yet, retailers are often unaware of the extent to which inventory shrinkage is affecting their business, where the losses are coming from, and how to prevent them in ways that complement their respective business models. In this blog, we will cover key ways in which you can prevent inventory loss in your retail store by enhancing your business security, all without harming your relationships with your customers and staff.
Secure Inventory to Control Store Loss
Retail business owners often stress the need for good anti-theft measures in their stores, and rightfully so. Though, a question often asked by retail store owners is
“How can I secure my products while still having an appealing store display?”
Through integrated security measures, store owners can have both a branded display suitable for store customers and high-security measures to mitigate in-store theft. At RTF Global, we offer security solutions to secure products to retail displays, whether electronics, clothing or other high-value merchandise.
Securing Electronics to Retail Store Displays
As a retail store owner or decision-maker, it’s key to understand the importance of displaying electronics in your store while still allowing customers to see, feel and experience the product before deciding to make a purchase. With RTF Global’s display security for electronics retailers, you can control inventory loss in your retail store while still creating a positive shopping experience for your customers.
Versatile Security for High-Value Merchandise
As leading experts in loss prevention, we have developed integrated and versatile security solutions that are designed to offer protection against theft for a variety of valuable products and display specifications. With our unique display security products, designed with versatility in mind, you can rest assured your merchandise is secured regardless of the shape of the product.
Know Your Inventory to Combat Losses from Shrinkage
Implementing a well-managed internal inventory system that is kept sufficiently up to date is an excellent way to combat business loss from inventory shrinkage. While it’s important to have a clearly outlined and communicated store-wide protocol for the recording of all inventory damaged, returned or consumed, access to the tracking system should be limited to one or a few hand-picked members of your retail team. Each member should have their own access code or account that ties them to their individual acts of tracking the goods entering your store.
Prevent Store Loss by Reducing Opportunities for Internal Theft
As a store retailer, chances are you pride yourself on hiring staff who are reliable and trustworthy, and on fostering a work environment that is friendly and welcoming. Though no business owner wants to view their staff as potential thieves, it’s important to be aware of the chances of internal theft within your retail environment. There are some steps you can take to increase the overall level of your business’s security against internal theft while fostering the kind of worry-free environment for your staff that you know they’ll appreciate.
Methods to Reduce Inventory Loss from Internal Theft
As a forward-thinking business owner, we can assume that when hiring a new employee, you’ve taken the standard step of screening candidates to evaluate them for chances of internal theft. Even with this step completed, there may still be risk of internal theft, though there are measured you can take in an effort to reduce in-store internal theft, such as:
- monitoring of items that are particularly valuable
- restriction of access to certain secure areas of the store (including after-hours access to the store) to only trusted employees
- securing valuable merchandise and limiting access to the release keys
- improving of your store organization or layout to reduce risk of blind areas.
Reduce Inventory Loss with the Help of Retail Store Security Specialists
At RTF Global, we are professionals in anti-theft systems and devices that are designed to seamlessly integrate into your store and retail displays and are effective at reducing inventory loss. Contact us to learn more about our high-security products and retail security solutions.