One aspect that retailers of all sizes face is theft, either by customers or employees. Billions of dollars each year are lost due to stolen merchandise, and businesses do everything they can to prevent this from happening. There are many strategies that companies can use to accomplish this, it just depends on the needs of retailers.

According to the 2011 National Retail Security Survey by the University of Florida and Tyco Integrated Security, retail shrinkage for 2011 was 1.42 percent, a decrease from the 1.49 percent for 2010. This accounts for more than $35 billion lost throughout the year, the research found.

"With the holidays and 2013 planning in full swing, it's important for retailers to take a look at these statistics and evaluate security strategies accordingly," said Michael Creedon, Tyco's vice president of retail sales and operations. "While theft is down this year, organized retail crime is on the rise and loss prevention solutions remain very important to help shrinkage continue to decline and operations run more efficiently and effectively."

To help prevent theft by customers, New Hampshire Sunday News reports that industry experts believe that effective customer service is a great method for deterring would-be thieves. If they are frequently helped by associates, they will have less opportunities to steal.

This entry was posted by Retail Pro on Friday, November 30th, 2012 at 4:28 am .