Between monthly expenses and a never-ending to-do list, it could limit your money and resources for loss prevention. And even though you understand the importance of an EAS system and internal loss procedures, implementing them is a different story.
Where do you start? Can you even begin with a limited budget? The answer is yes, and the Product Protection Solutions (PPS) team can help. We can meet you where you’re at with solutions that can grow alongside you.
This article will educate you on how to begin implementing loss prevention strategies into your business and the affordable anti-theft solutions for retail shops that are available.
First Steps Towards Loss Prevention
Good news! When you’re ready to take a proactive approach toward retail theft, just making a loss prevention plan is a great beginning. There are no right or wrong answers. There are plans that cover all areas of a business.
You can start wherever your time and budget allow and grow when you can. If you’re looking for some ways you can begin, here are a few plans that are a significant first step towards anti-theft solutions.
Ensure Your Accounting Practices are Accurate
You might be surprised to learn that retail shrinkage involves more than shoplifting. Shrinkage includes product damages, return and vendor fraud, and even unexplained inventory losses.
One way to help reduce these losses is to examine your current accounting practices. Review your balance sheets to look for administrative errors. Conducting a daily review will help to catch shrinkage as it occurs and not weeks (or months) later.
Start By Creating a Loss Prevention Culture
Keep things simple. Begin by educating employees about the importance of loss prevention in all areas (learn the top causes of retail loss here). Employees are the first line of defense; they might even notice potential problem areas before you do.
- Share your goals with the employees
- Explain the type of losses you want to prevent
- Talk about how over time, you’ll implement additional loss prevention strategies
- Encourage them to share their ideas with management
Learn Your Needs
Sometimes retailers quickly purchase anti-theft devices and buy ones that might not fit their needs. By learning which products need additional protection, you can make any changes to reduce theft on your own. This could include reorganizing the store’s layout or changing where you stock that product.
When you’re ready to buy, learn the four facts about buying anti-theft devices before making a purchase.
Affordable Anti-Theft Solutions That’ll Grow with You
Once you’re ready to purchase security devices, you can choose several cost-effective options. And the best part is that many of these devices can grow with you!
They are an excellent option for securing small merchandise without placing it behind the counter. Instead, customers can still select the item themselves, and the employee will remove the safer during checkout.
- Uses a polycarbonate material to withstand repeated use over the years
- Works with existing planograms
- Many styles and sizes are available
- Upgrade to AM and RF technologies for stronger protection
Collars and Caps
Protect everything from energy drinks, liquor, ice cream pints, or baby formula. This device secures itself around the top or neck of the container, making it difficult for thieves to remove it in the store.
- Reusable with similar-sized merchandise
- Uses an advanced magnetic lock protection
- Works with existing planograms
- Several styles and sizes are available
- Upgrade to work with traditional AM and RF EAS & RFID systems
This device allows you to secure large and oddly shaped merchandise that are sometimes difficult to protect but have a high resale value for thieves.
- Use it with other similar-sized merchandise
- Works with traditional standard, or super detachers
- Withstand repeated use for many years
- Upgrade to work with EAS & RFID systems
- Add an alarming element that’ll sound if it’s tampered with or someone cuts the cable
Contact PPS for Anti-Theft Solutions for Retail Shops
As loss prevention experts for retailers, we’re here to help you protect your profits while securing your bottom line. If you have questions about purchasing loss prevention devices, contact us!
Or, if you want to learn why a loss prevention company is a key part of your anti-theft solutions, here.