Here at Tower Systems we have experience in shoplifting. Not the act of, but, rather, the tracking and prevention of.
Using our specialty retail POS software, retailers can expect to reduce the impact of shoplifting in their businesses. Shoplifting can be expensive – anything from 2% to 7% of retail sales revenue in terms of value. Knowing this helps you focus on investing in eliminating the cost of theft.
Embedded in our POS software are tools for tracking shoplifting. Knowing what is being stolen and broadly when is an excellent start to reducing, and even eliminating, shoplifting.
We back the tools in our POS software with advice on how to leverage them to reduce the impact of shoplifting. Knowledge is power. Okay, that is a tired old cliche. But it is true. Knowing what is being stolen and when we can help you to act appropriately to mitigate the situation.
Using our software and our expert knowledge, we have worked with loss prevention experts as we as the police in several states to help with matters of shopper theft. We are skilled in this area.
In the many years working with small and independent retail businesses, the team at Tower Systems has learnt plenty including the indicators of in which retail businesses theft is more likely to occur.
We have leveraged our experience with small business retailers who use our smart POS software to help these and other b businesses reduce the impact of theft – shopper theft and employee theft.
Our experience is that theft is more likely to occur in businesses where stock is not managed properly. By not managed properly we mean in retail businesses where:
- All items sold are not tracked at the point of sale.
- Where new stock arriving in the business is not properly arrived through the software.
- Where spot stock-takes are not undertaken regularly to maintain an accurate stock on hand account.
- Where stock given away or thrown away is not written off.
- Where stock returned to a supplier is not scanned out.
Our advice on reducing the cost of shoplifting is simple – follow our advice, manage your stock and without a doubt the cost of theft in your retail business will be lower than it would have been.
If you think the cost of managing stock is too great, think about the cost of $25,000, $50,000 or even $250,000 in theft. Yes, we see this all too often in retail businesses – where stock is not managed.
Managing your stock = less theft and less theft = increases product and increased profit = you get more when you sell your business.