Retail loss is on the rise globally – Australian estimates are sitting at 4.5 billion annually, and growing. And the issue is much bigger than shoplifting, with internal issues like employee fraud, training gaps and operational inefficiencies estimated to cost retailers up to 7% of their annual revenue.
It’s not that loss prevention managers have their heads in the sand, they know the problem exists – it has however, been very difficult to monitor, track and therefore quantify. Lacking the right tools, loss prevention managers have instead had to rely on tip-offs and spend hours sifting through spreadsheets of point-of-sale (POS) data and sales reports to trace the source of revenue loss. And even then, this arduous task often doesn’t pinpoint the exact problem at hand. The lack of sufficient detail makes it extremely difficult to identify individuals, trends or a more complex interplay of issues.
To help loss prevention stakeholders with this problem, we’ve put together an insightful guide on “8 High-Risk Loss Prevention Scenarios Every Retailer Should Monitor”. To read the guide, please fill out the form on the right hand side. We won’t share your details with anyone.