Shoplifting & Retail Loss Prevention Training Programme…For Retail Exxcutives, Retail Store Managers & Retail Associates
Dear Friend,
Do you know that the most successful retailers are those with the lowest shrinkage level because they understand that low shrinkage equals high profits?
Those retailers have robust loss prevention cultures which permeate throughout the DNA of their organizations.
They create a culture in which every single employee is willing to help in the fight against shrinkage.
The Cost of Shrinkage to Your Retail Organisation
The average retailer makes a 1% net profit out of each dollar, and the industry shrinkage percentage is 2.6%.
This means that shrinkage is almost three times the average retailer’s profit margin.
If you take the above calculation into consideration, you will conclude that if you reduce your shrinkage by 50% – from 2.6 cents to 1.3 cents, you could more than double your profits: from 1 cent to 2.3 cents.
Instead of following the conventional practices of offering huge discount to entice shoppers, the above calculation shows that you have the ability to increase your profit margin without necessarily giving away your goods.
If a business makes 1% profit margin and it does not take measures to reduce losses, it is only a matter of time before it goes out of business.
So Why Do You Need to Increase Your Profit?
You need to increase your profit margin because business is about profit.
If profit is not the KPI of your business, you want to consider doing something different with your time.
It is only when you make profit you will have the resources to reinvest in growing your business, invest in your marketing and invest in other activities that will result in profit.
The easiest way of making profit in retail is by reducing your shrinkage level.
There are two reasons why shrinkage reduction is the simplest way of increasing retail profit.
Firstly, you cannot control sales.
There are lots of things you could do to influence the outcome of your marketing efforts.
Ultimately, you are still at the mercy of market forces.
However, when it comes to shrinkage reduction, you have complete control over the outcome.
In the large majority of cases, shrinkage is caused by the absent of the right policies and procedures.
Simple making a few changes to your current policies and procedures can reduce your shrinkage level by as much as 84%…resulting in a 51% increase in profit.
Why Are Retail Organisation Still Failing to Reduce Shrinkage?
There are two reasons retail organisations have not been able to have a handle on their shrinkage.
The first reason is the retail industry does not focus on making profit.
The focus is only on making sales.
If you focus on profit, you will realise that to increase sales without stemming profit draining activities is false economy.
Secondly, the current loss prevention strategies employed by most retail organisations is wrong.
The reason of this is the majority of retail loss prevention managers are ex-service personnel.
Who bring the law enforcement approach to a problem that has little to do with criminality.
The major cause of retail shrinkage is procedural error.
However, in retail lexicon, shrinkage is another word for shoplifting or employee theft.
When they think about shrinkage, the only thing many retailers think about is shoplifting and employee theft.
Yes it is true that shoplifting and employee theft account for a large percentage of retail shrinkage.
However, shoplifting and employee theft are a symptom of deeper procedural errors within the retail organisation.
When you take corrective measures to rectify procedure error within a retail organisation, you simultaneously stem shoplifting or employee theft.
Retail shrinkage also includes:
- Administrative errors
- Receiving error, fraud and theft
- Vendor error, fraud and theft
- Procedural errors
Because the majority of retailers view shoplifting and employee theft as the sole cause of their shrinkage, when they embark on shrinkage reduction, they opt for the security approach.
They place security officers at the entrance of their stores, hoping that will reduce their shrinkage.
Indeed security officer at the entrance of a retail store can serve as a deterrence to amateur shoplifters.
However, security officers do not prevent harden shoplifters from carrying on their activities.
In fact, these days, the large percentage of shoplifting is conducted by Organised Retail Crime syndicates.
Those are professional gangs who cannot be deterred by a weak looking security officer stood at entrance of your shop.
Organised Retail Crime (ORC): The New Dynamic In Shoplifting
The emergence of Organized Retail Crime (ORC) into the world of shoplifting has introduced a completely new dynamic into the world of retail shrinkage.
Traditionally, shoplifting has been committed by individuals seeking survival, personal gain, or support of their habits.
Members of those Organized Retail Crime gangs do not match this description.
Rather, they are gangs of well-organized, professional thieves who exhibit a level of sophistication never before witnessed in the retail industry.
ORC costs retailers millions annually with no signs of slowing down.
A BBC report on ORC published on 11 January 2010 (Crime gangs ‘dominate shop theft’) illustrates just how much damage the ORC is capable of inflicting on retailers.
They are capable of stealing up to £7,500 worth of merchandise within four minutes and almost £100,000 worth of merchandise daily.
When you consider their operational sophistication, meticulous planning, and capability of walking away with thousands of pounds in merchandise, the ORC is truly a very real force to be reckoned with.
The primary gang active in the UK is the 150 member strong Glasgow-based McGovern team.
This gang has terrorized Scotland for many years, and is now branching out all over the UK.
It is conceivable that they are even spreading their reach into Europe.
The most lethal ORC gangs can be found in the former eastern blocks as well as in the Republics that comprised the former Yugoslavia.
Thousands of members strong, these gangs routinely hit retailers they perceive to be easy targets all around Europe.
Due to the ease of inter-national travel in the EU, these individuals can very quickly and easily migrate from country to country perpetrating their crimes.
What’s more, these gangs make use of fake and stolen credit/debit cards that they are able to use for ordering thousands of pounds worth of merchandise to false addresses, collecting the merchandise and disappearing into thin air.
How To Reduce Shoplifting And Retail Shrinkage
The first step in retail shrinkage reduction is for retailers to acknowledge the seriousness of the problem.
Secondly, retailers need to understand that shoplifting and retail employee theft are crimes of opportunity, you remove the opportunity and you remove the possibility.
How can retailers remove the opportunity for shoplifting and employee theft from their store?
It can be done by firstly installing the right policies and procedures
Secondly, providing their employees shoplifting and retail loss prevention training.
As the below box illustrates a retail employee provided shoplifting awareness training is a more effective in shoplifting prevention than any other measure employed.
Shoplifting & Retail Loss Prevention Training ROI
Method Effectiveness
Trained Employees 33%
CCTV Cameras 31%
Management 17%
EAS 14%
Signs 3%
Guards 2%
Retail employees trained in shoplifting prevention are more effective in shoplifting prevention than even security officers.
Being aware of this fact, The Business Education Center developed the shoplifting & retail loss prevention training programme to help retailers provide their employees shrinkage reduction training.
The shoplifting & retail loss prevention training programme is the only shoplifting loss prevention program that combined policy & procedure and techniques.
There are three tiers of unique contents shoplifting loss prevention training aimed at different levels of a retail organisation.
There is training for retail executives, store manager and store associates.
Even though some of the course titles are similar, the course contents are completely different.
The retail executives training is designed to help retail CEOs, financial directors or operations manager understand the impact of shrinkage on the organisation’s profit.
The store manager contents are designed to provide retail store managers the requisite skill to make informed decision about loss prevention
And the retail associates contents provide retail associates an insight into loss prevention and their role in shrinkage reduction.
Below is an overview of the programs for each level of retail staff:
Shoplifting & Retail Loss Prevention Training For Retail Executives
Course Contents
Prioritising Loss Prevention:
- Why loss prevention essential to retail
- The role of loss prevention in retail operation
Understanding Shrinkage:
- The cost of shrinkage to your retail organisation
- Shrinkage vs profit calculation
- The impact of shrinkage on profit margin
Internal Causes Of Shrinkage
- Employee theft and its impact on profit
- Employee error and its impact on profit
- Vendor theft and it impact on profit
- Supply chain error and its impact on profit
Customer Related Shrinkage
- Shoplifting and its impact on profit
- The impact of Organised Retail Crime activities on retail profit
Senior Management’s Role In Developing & Implementing Policies & Procedures
- The financial impact of the wrong policies and procedures
- The financial benefits of having the right policies and procedures
The Benefits of Technology
- The best loss prevention technologies
- The return on investment of retail loss prevention technologies
Senior Management’s Role In Creating A Culture Of Loss Prevention
- How to create a culture of loss prevention in your retail organisation
- Why senior management must engage in loss prevention
- What is senior management role in loss prevention?
WHO IS THIS TRAINING FOR?
- Retail CEO
- Retail Financial Directors
- Retail VPs
- Retail Operations Directors
AFTER THE COURSE
At the end of the course you will be able to:
- Know the impact of shrinkage on the profit margin of your organisation
- Recognise senior management role in loss prevention and shrinkage management
- Provide guidance to regional and store managers
- Assume a leadership role in shrinkage reduction in your organisation
TO REGISTER
To book a place on the course:
- Please contact: Anastasia Richards
- By Phoning: 020 8798 0579
- Email: info@theprofitexperts.co.uk
The session is limited to 10 participants to ensure attendees have the opportunity of having all of their questions answered.
So book early to avoid disappointment.
Shoplifting & Retail Loss Prevention Training
Course fees £997 per delegate
WHY IS THE BUSINESS EDUCATION CENTER WELL-PLACED TO DELIVER THIS TRAINING
Retail shrinkage has always been perceived as shoplifting or employee theft.
As a result of this perception, the approach to loss prevention in many retail organisations is focused on catching customers or employees suspected of theft.
Consequently, the majority of loss prevention training heavily lean towards providing participants with the skills required to recognise and catch thefts.
The Business Education Center understands that loss prevention goes way beyond theft.
We are aware of the fact that retail shrinkage is caused by process & systemic failure, opportunity and human factor.
Therefore, we are the only training organisation in Europe that has designed a loss prevention training programme to encompass all of those challenges.
Our trainers have been on the frontline of retail loss prevention for many years, therefore all the case studies and examples provided during the training sessions are based upon practical experiences.
BIOGRAPHY OF TRAINER
Romeo Richards is the concept creator. His first-hand experience within the retail industry and extensive knowledge of working in the security industry for many years, enabled him to develop the concept upon which the training modules are based.
Romeo has worked with Marks & Spencer, Tesco and Brantano.
Romeo’s extensive knowledge of the Theory of Constraint (TOC) added a new dimension to the presentation of retail loss prevention.
Romeo holds a Masters Degree in International Relations.
He has written 23 books, numerous articles, whitepapers and best practices on retail loss prevention, store design, visual merchandising display and how to increase retail sales.
TO REGISTER
To book a place on the course:
- Please contact: Anastasia Richards
- By Phoning: 020 8798 0579
- Email: info@theprofitexperts.co.uk
The session is limited to 10 participants to ensure attendees have the opportunity of having all of their questions answered.
So book early to avoid disappointment.
Shoplifting & Retail Loss Prevention Training
Course fees £997 per delegate
FIND OUT MORE
To learn more about The Business Education Center and our services please visit: www.romeorichards.com
Shoplifting & Retail Loss Prevention Training For Retail Store Managers
Course Contents
Introduction to Loss Prevention
- The fundamentals of retail loss prevention
- Why it’s important that retail managers understand loss prevention
- The retail manager’s role in loss prevention
Understanding Shrinkage
- What is shrinkage?
- Root cause of retail shrinkage
- The impact of shrinkage on retail profit
- How to prevent shrinkage
How to Prevent Employee Theft
- Why employee steal?
- The process of employee theft
- Tell-tale signs of employee theft
- How to prevent employee theft
How to Prevent Employee Error
- Why does employee error occur?
- What is the cost of employee error?
- Types of employee error
- How to prevent employee error
How to Prevent Shoplifting
- How shoplifting occurs?
- Why do shoplifting occur?
- Visual merchandising display and store designs that facilitates shoplifting
- How to display merchandise and design store to prevent shoplifting
- Shoplifting hotspots
- Shoplifting hot products
- The impact of shoplifting on a retail store
- How does Organised Retail Crime gangs operate?
- How to prevent shoplifting
An Efficient Backdoor Receiving System
- How to properly receive goods
- How to train receiving staff
- How does vendor theft and fraud occur?
- How does supply chain deficiencies contribute to shrinkage?
- How to create an efficient receiving system
How to Prevent Perishable Shrinkage (optional)
- How does perishable shrinkage occur?
- What is the impact of perishable shrinkage on a retail store?
- Perishable shrinkage commandments
- How to prevent perishable shrinkage
How to Prevent Non-Perishable Shrinkage
- How does non-perishable shrinkage occur?
- What is the impact of non-perishable shrinkage?
- How to prevent non- perishable shrinkage?
How to Create a Culture of Loss Prevention
- Why loss prevention is essential for the success of any retail business
- How to get employee buy-in into loss prevention activities
- What is the role of each department head in loss prevention
How to Use Loss Prevention Technology Effectively
- What are the latest retail technologies?
- What are their functionalities?
- What are their ROI?
- What questions should you answer before investing in loss prevention technology?
WHO IS THIS TRAINING FOR?
- Retail store manager
- Retail regional managers
- Retail department managers
- Retail department supervisors
TO REGISTER
To book a place on the course:
- Please contact: Anastasia Richards
- By Phoning: 020 8798 0579
- Email: info@theprofitexperts.co.uk
Course fees £397 per delegate. Group discount available.
In-house training available upon request, a minimum of five managers is required.
The session is limited to 30 participants to ensure maximum interaction of participants.
So book early to avoid disappointment.
Shoplifting & Retail Loss Prevention Training
Course fees ££397 per delegate
AFTER THE COURSE
At the end of the course you will be able to:
- Effectively perform your role as the key person responsible for shrinkage reduction in your store
- Competently assume leadership for loss prevention in your store
- Effectively delegate loss prevention assignment to the appropriate member of staff
- Detect employee theft in your store
- Make your store a shoplifting free zone
WHY IS THE BUSINESS EDUCATION CENTER WELL-PLACED TO DELIVER THIS TRAINING
Retail shrinkage has always been perceived as shoplifting or employee theft.
As a result of this perception, the approach to loss prevention in many retail organisations is focused on catching customers or employees suspected of theft.
Consequently, the majority of loss prevention training heavily lean towards providing participants with the skills required to recognise and catch thefts.
The Business Education Center understands that loss prevention goes way beyond theft.
We are aware of the fact that retail shrinkage is caused by process & systemic failure, opportunity and human factor.
Therefore, we are the only training organisation in Europe that has designed a loss prevention training programme to encompass all of those challenges.
Our trainers have been on the frontline of retail loss prevention for many years, therefore all the case studies and examples provided during the training session are based upon practical experiences.
BIOGRAPHY OF TRAINER
Romeo Richards is the concept creator. His first-hand experience within the retail industry and extensive knowledge of working in the security industry for many years, enabled him to develop the concept upon which the training modules are based.
Romeo has worked with Marks & Spencer, Tesco and Brantano.
Romeo’s extensive knowledge of the Theory of Constraint (TOC) added a new dimension to the presentation of retail loss prevention.
Romeo holds a Masters Degree in International Relations.
He has written 23 books, numerous articles, whitepapers and best practices on retail loss prevention, store design, visual merchandising display and how to increase retail sales.
TO REGISTER
To book a place on the course:
- Please contact: Anastasia Richards
- By Phoning: 020 8798 0579
- Email: info@theprofitexperts.co.uk
Course fees ££397 per delegate. Group discount available.
In-house training available upon request, a minimum of five managers is required.
The session is limited to 30 participants to ensure maximum interaction of participants.
So book early to avoid disappointment.
Shoplifting & Retail Loss Prevention Training
Course fees ££397 per delegate
FIND OUT MORE
To learn more about The Business Education Center and our services please visit: www.romeorichards.com
Shoplifting & Retail Loss Prevention Training For Retail Associates
Course Contents
Introduction to Loss Prevention
- What is retail loss prevention why should retail associates care about it?
- The role of retail associates in loss prevention
- What’s the benefit of loss prevention to retail associates
Understanding Shrinkage
- What is shrinkage?
- Root causes of retail shrinkage
- The impact of shrinkage on a retail organisation
- How to prevent shrinkage
How to Prevent Employee Theft
- Why employee steal?
- The process of employee theft
- Tell-tale signs of employee theft
- How to know when a colleague is dishonest
- How to help prevent colleagues from stealing
- What actions to take if an associate discovers that a manager or a colleague is stealing from the store
How to Prevent Shoplifting
- How does shoplifting occur?
- Why do shoplifting occur?
- Visual merchandising displays and store designs that facilitates shoplifting
- How to display merchandise and design store to prevent shoplifting
- Shoplifting hotspots
- Shoplifting hot products
- The impact of shoplifting on a retail store
- How does Organised Retail Crime gangs operate?
- How to prevent shoplifting
An Efficient Backdoor Receiving System
- How to properly receive goods
- How does vendor theft and fraud occur?
- How to prevent vendor theft or fraud?
- What to do when the wrong product are delivered to the store
How to Prevent Perishable Shrinkage (optional)
- How does perishable shrinkage occur?
- What is the impact of perishable shrinkage on a retail store?
- Perishable shrinkage commandments
- How to prevent perishable shrinkage
How to Prevent Non-Perishable Shrinkage
- How does non-perishable shrinkage occur?
- What is the impact of non-perishable shrinkage?
- How to prevent non- perishable shrinkage?
How to Use Loss Prevention Technology Effectively
- What are the latest retail technologies?
- What are their functionalities?
- How to quickly get up to speed with loss prevention technology?
- What if the loss prevention technology does not function as it should?
WHO IS THIS TRAINING FOR?
- Retail store associates
- Anyone intending on getting into retail
TO REGISTER
To book a place on the course:
- Please contact: Anastasia Richards
- By Phoning: 020 8798 0579
- Email: info@theprofitexperts.co.uk
Course fees £97 per delegate. Group booking discount available.
In-house training also available, a minimum of 10 delegates are required.
The session is limited to 50 participants to ensure full participant engagement sessions.
So book early to avoid disappointment.
Shoplifting & Retail Loss Prevention Training
Course fees £97 per delegate
AFTER THE COURSE
At the end of the course you will be able to:
- Actively participate in loss prevention activities in your retail store
- Recognised colleagues engaged in dishonest activities
- Recognise shoplifters and inhibit their activities in your store
WHY IS THE BUSINESS EDUCATION CENTER WELL-PLACED TO DELIVER THIS TRAINING
Retail shrinkage has always been perceived as shoplifting or employee theft.
As a result of this perception, the approach to loss prevention in many retail organisations is focused on catching customers or employees suspected of theft.
Consequently, the majority of loss prevention training heavily lean towards providing participants with the skills required to recognise and catch thefts.
The Business Education Center understands that loss prevention goes way beyond theft. We are aware of the fact that retail shrinkage is caused by process & systemic failure, opportunity and human factor.
Therefore, we are the only training organisation in Europe that has designed a loss prevention training programme to encompass all of those challenges.
Our trainers have been on the frontline of retail loss prevention for many years, therefore all the case studies and examples provided during the training session are based upon practical experiences.
BIOGRAPHY OF TRAINER
Romeo Richards is the concept creator. His first-hand experience within the retail industry and extensive knowledge of working in the security industry for many years, enabled him to develop the concept upon which the training modules are based.
Romeo has worked with Marks & Spencer, Tesco and Brantano.
Romeo’s extensive knowledge of the Theory of Constraint (TOC) added a new dimension to the presentation of retail loss prevention.
Romeo holds a Masters Degree in International Relations.
He has written 23 books, numerous articles, whitepapers and best practices on retail loss prevention, store design, visual merchandising display and how to increase retail sales.
TO REGISTER
To book a place on the course:
- Please contact: Anastasia Richards
- By Phoning: 020 8798 0579
- Email: info@theprofitexperts.co.uk
Course fees £97 per delegate. Group booking discount available.
In-house training also available, a minimum of 10 delegates are required.
The session is limited to 50 participants to ensure full participant engagement sessions.
So book early to avoid disappointment.
Shoplifting & Retail Loss Prevention Training
Course fees £97 per delegate
FIND OUT MORE
To learn more about The Business Education Center and our services please visit: www.romeorichards.com