At the moment there's no shortage of news about how tough Aussie retail is doing. But amongst all the bad press, there's also no shortage of retail stores that are smashing it with innovation, progression and customer service. I guess the headline "Local Store Does Really Well Again This Month" doesn't draw as many eyeballs.
I've always been a firm believer that customer experience and loss prevention go hand-in-hand. The way you protect your assets, and ultimately secure your bottom-line is a clear opportunity to separate the store from the competition.
Here are three ways that served me well over the years in minimising theft around items that regularly got stolen.
1. Postive Staff Engagement.
I spoke about this in-depth in my recent blog on 'offensive LP'. The key here is having your staff not just aware of the procedures in place, but instead having them actively involved in protecting your store. It's not about stalking anyone who looks remotely suspect, but instead offering to help them with real enthusiasm, radiating a sense of "I'm here to help, but importantly I know you're here as well". The presence of your staff in reducing shrinkage is vital, and when it's done with natural enthusiasm, your sales and the customers overall experience will be the beneficiary.
Staff engagement is something we all strive for as managers, and it's not something that magically happens overnight. But when you're transparent with why you need the team to radiate presence on the floor, the cream generally rises to the top amongst your staff.
2. Asset Protection Technology
Having the latest technology to not only secure your assets but accurately measure your store's metrics is vital. In 2018 the technology available goes far beyond chunky locks and restrictive devices - the tech is now subtle, stunning in design and incredibly useful. The tech is directly helping bottom-lines while fostering a remarkable customer experience.
If you think your store could be better secured against theft, email me here. I'll show you how you can minimise your LP spend and maximise your protection against theft and shrinkage.
3. Display Minimisation.
Lastly, it's all about minimisation when it comes to not only store-layout but the amount of stock you have on show. The feeling you get when you walk into a store that's light and spacious isn't an accident or just a big space - it's a deliberate store layout that oozes customer experience while making it difficult for people to pinch stock.
It's simple - less stock on the shelves means less-stock to get stolen. This might mean you need to cull the products you've been holding onto for too long. Minimal displays require sacrifice, and sometimes more time for your staff, but a simple display is a proven boost to a retail stores performance.
So my question to you is this.
What are the top three products that get stolen from your store?
If you're not sure, you need to know this...
And if you do know, how can you further secure these particular products? Implementing just one of these points above will be a great start.
Lorri Dangerfield - Loss Prevention Expert.
"Lorri has over 25 years of management experience and is now helping businesses get the best results with their Loss Prevention."