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Loss prevention has never been more critical to brick and mortar businesses. Without it, the Australian economy is at risk. Here are three critical factors to consider around loss prevention.

1. Are you serious about it? 

Are you? Loss Prevention is far more than a few token tags and an EAS (still necessary though). Loss prevention is a matter of protecting the Australian economy and keeping retail healthy. Yes, online shopping is making somewhat of an impact on the numbers, but can we make excuses when Australian businesses are letting billions of dollars in stock, yes, billions walk out the door or go missing every year?

Loss prevention gets a little more interesting when we know that it's an obvious way to make an impact on your businesses bottom line almost instantaneously. 

2. Staff

Staff involvement in loss prevention is the most critical key to minimising shrinkage, but it begins with you to keep them engaged. Regular training on your procedures and processes helps, but this needs to be teamed up with the latest technology in loss prevention available. Even the most ineffective of staff can see when something doesn't work, and it won't take long before they see your loss prevention procedures as a joke or a waste of time. 


3. The numbers.

Knowing your numbers is a given, but how well do you really know them? Does your business have specific store-metric systems in place that quickly and readily present you with the data you need? It's one thing to delegate the role of reporting to someone else, but it's another to have simple access to accurate information whenever you need it. 

When the essential numbers are made easy, it's obvious when stock has gone missing, sales are down, or the layout of your store is just off. 

A solution: Our 3D counter system makes store metrics accurate and straightforward - no more tedious time-wasting reports. See here for more info.  

Have we struck a cord here? We'd love to know what you're business is doing to minimising its shrinkage - and as always, for your loss prevention needs, I'm here for a discussion about how I can instantly help.

Lorri Dangerfield - Instore Security > Contact Here. 

"Lorri has over 20 years of management experience and is now helping businesses get the best results on their Loss Prevention. Her expertise and insight in this area have been widely beneficial thus far for our clients."

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