In a blink of an eye, the holiday season is upon us again. As retail stores dust off their Christmas decorations and put up signage for seasonal sales many retailers forget the most crucial part of preparing their stores for the holidays – their in-store security system and loss prevention practices.
According to a recent survey, 34 percent of annual sales are generated over the holiday season but also accounts for 37 percent of annual losses. Shoplifting is the biggest source of these losses, accounting for a whopping 36.5 percent.
We’ve put together some important tips and tricks to prepare you for the Christmas rush so you can enter the season selling more and losing less.
Has your EAS system had a health check lately?
It’s important to ensure that your EAS systems are serviced regularly, and especially important to ensure that there is no downtime during the holiday season. Each trading day with a non-functioning EAS system could equate to hundreds of dollars’ worth of stolen merchandise. Book in your EAS service early to ensure that all the equipment is working well ahead of the Christmas rush.
Do your team members need training on identifying and preventing theft in store?
Staff training is one of the most important pieces of the puzzle when it comes to preventing theft in store. Ensure that your team is going into the busy season equipped with knowledge on how to identify potential shoplifters, how to make a customer service approach to deter theft in store and how to avoid confrontation in the event of an incident.
Is your store planogram ready for the holidays?
In-store marketing is crucial to maximising sales during the holiday season, but while large retail signage is effective in promoting product, it also creates many blind spots where shoplifters can sneak merchandise into their bags. Ensure that your most desirable items are in line of sight of the cashier counter and that team members regularly check up on any blind spots in store.
Are all your hottest theft products secured?
Christmas is often the most vulnerable time for retailers because high cost merchandise has to be readily available on shelves to ensure that they sell. With an increase in foot traffic and customer service requirements, team members are often too busy to keep a watchful eye on merchandise. Do a quick in store audit to ensure that all your highest theft products are secured with an EAS label or an Alpha keeper, spider wrap or hard tag. These will not only offer a visual deterrent but also set EAS gates off to alert team members that they should make a customer service approach and give the customer the opportunity to pay for the product.
Following these tips will ensure that you can focus on maximising this busy sales period without worrying too much about theft in store.
Checkpoint Systems, a division of CCL Industries, addresses two critical issues for its customers: Improving Profitability and Improving Consumer experience. With consumer demands accelerating at an extraordinary rate driven by technology, Checkpoint recognizes the challenges faced by its customers in the rapidly evolving retail market. We deliver intelligent solutions – bringing clarity and efficiency into the retail environment anytime, anywhere. Through a unique offering of software, hardware, labels, tags and connected cloud based solutions, Checkpoint optimizes operational efficiencies through analysis of real time data captured throughout the Supply Chain and in store then translating this to clear concise actions and tasks.
We provide end-to-end solutions enabling retailers to achieve accurate real-time inventory, accelerate the replenishment cycle, prevent out-of-stocks and reduce theft, thus improving merchandise availability and the shopper’s experience. Checkpoint’s solutions are built upon 48 years of radio frequency technology expertise, innovative high-theft and loss-prevention solutions, market-leading RFID hardware, RFID software, and comprehensive labeling capabilities, to brand, secure and track merchandise from source to shelf. Checkpoint’s customers benefit from increased sales and profits by implementing merchandise availability solutions, to ensure the right merchandise is available at the right place and time when consumers are ready to buy. Checkpoint operates in every major geographic market and employs 4,500 people worldwide.