January: Traditionally a month for all things new; new year, new plans and new strategies; but it’s also a time to weed out bad habits and create good ones. Retailers can benefit from a fresh approach at the start of the year to give sales and profitability a healthy boost.
After the frenzy and excess of the Holidays, it’s the perfect time to set new targets, lay down renewed strategies for achieving them and dust off some old, but effective measures that might have fallen by the wayside.
Loss prevention checks and measures are a common retail practice that can be neglected in the countdown to the Holidays when everyone’s focus is on getting customers through the door. However, there’s never a wrong time to refocus store teams on the retailing basics, and loss prevention should be one of those.
And this is particularly important now. World economies are still struggling, the prices continuing to rise the goal is to keep theft under control. Retailers who proactively reinvigorate their loss prevention program, including on-shelf deterrent solutions, will be rewarded by a down-shift in shrink and an uptick in sales as product availability improves.
Checkpoint Systems’ key points to consider to reboot effective Loss Prevention
- When did you last test your in-store Loss Prevention systems?
- Functioning EAS and deactivation systems are a key factor in creating a positive shopper experience. A daily test first thing in the morning is an easy, yet effective way to identify any faults in your solution
- Are all vulnerable products protected?
- Security tags and labels – whether overtly displayed on packaging as a visual deterrent or designed to blend in or be placed within the product - offer proven product protection. Checkpoint Systems has a wide range of EAS labels and Alpha solutions, including Shield Tags, that feature extra-strong adhesive to make removing the label extremely difficult and products like Spider Wraps, that secure the packaging of high-theft, high-value products
- Are your teams engaged in your Loss Prevention strategies?
- Inspiring your retail teams around Loss Prevention, so they understand why compliance is important will help to maximize solution effectiveness
- Have you considered using visible security tags?
- Deter would-be thieves before they attempt to leave your store without paying by using visible security tags. Checkpoint Systems’ security labels feature the trademarked Black Lock logo and are proven to reduce shrink and increase sales. With the right investment, your EAS system can provide the perception of an additional member of the loss prevention team, with business intelligence and alerts. Checkpoint Systems’ ACTIVE Store Operations is a cloud-based solution centered around key operations metrics and analytics. All of our systems are also backed up by our exceptional field service teams, on hand to offer additional support whenever it is needed.
Frank Panebianco, Vice President Sales & Marketing NA, Checkpoint Systems says: “In the general day-to-day running of a retail operation, it is very easy to lose sight of basic protocols. However, we know that proper use of EAS, including ensuring the systems are running effectively and that staff are up to speed with systems compliance, can make a material difference to the bottom line of every store. In fact, we have seen them make a positive difference to profitability. It’s simply about reinstating good retailing habits…the start of the new year couldn’t be a better time to do that.”