Holiday Loss Prevention Tips For Retailers

Once again, the madness of the holiday season has arrived, and this year is a lot more challenging than it has ever been. Almost the entire country has mandatory mask rules in place, and this presents an unusual challenge to Loss Prevention Investigators when it comes to identifying the “usuals”. However, what makes this a lot more challenging than it has ever been is the mandatory social distancing measures in place.

While it is too early for Canada’s Retail Loss Prevention Council to issue solid statistics for 2020, it seems that Canadian retailers suffered approximately five billion dollars of shrinkage in 2019 alone (source); this number of course represents losses related to crime and internal operational errors. It is however important to understand that shrinkage cannot be fully eliminated, but with the right loss prevention investigators and uniformed security guards, you can make a sizable dent in this figure. We have some tips for you to assist in controlling your shrinkage.

Training, training, training…

This cannot be said enough. Your team are on the sales floor throughout your operating hours and proper customer service and loss prevention training can dramatically reduce your shrink. Most retailers provide this basic video training during the hiring process, but this training needs to be refreshed at least annually. Training usually provides tips on how to perform operational tasks with minimum error margin and at the same time your employees must understand the legalities of accusing someone of theft with proper 494 (Citizens Powers of Arrest) training. This brings us to our next point.

Invest in a Loss Prevention Company

Security Guard Group provides a wide variety of retail security including mall security, loss prevention services, and uniformed security guards. Our Loss Prevention Investigators receive extensive training about customer service, Citizens Powers of Arrest, and Conflict Resolution. We also offer Security Audits that will provide you with an in-depth assessment of your store’s security.

Hire Seasonal Staff Members

While the impact of COVID-19 has been devastating for many businesses, it is important to consider the benefits will outweigh the financial drawback from hiring seasonal staff. For one, many local employment agencies offer government sponsored grants for hiring certain groups such as students or disabled persons. This will also help you relieve some of the workload your permanent staff will face during the holiday season.

Noticeable Physical Security Measures

Criminals usually aim for retailers who they believe to be an easy target or believe that they can get away with it. Therefore, it is important to have noticeable physical security measures in place such as Cameras, mirrors and signs stating that the entire store is under surveillance. On the long run, this will cut your losses and boost your bottom line.

Let’s Talk

If you are considering hiring a loss prevention agency, give us a call. We have years of experience in contract loss prevention have serviced many local retailers like yourself. We have experience working in pharmacies, hardware stores, clothing stores and grocery stores. We’d love to hear from you.