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7 Tips to Reduce Shrinkage This Holiday Season

According to a recent Global Retail Theft Barometer study, a total of 1.4% of retail sales - equating to over $100 billion - was lost due to shrink. This isn't an epidemic that only strikes large retailers or tiny shop owners - it's a burden that a business of any size has to bear.

These 7 simple tips can help protect your business: 1

Promote a security-conscious environment by clearly communicating a zero-tolerance policy towards theft, both internal and external.


Require management approval on all refunds and credits.


Make sure all employee purchases are rung up and checked by the owner, manager or another trustworthy, designated person.


Keep strict control over sales tickets, gift certificates or any other types of forms that can be used by an employee to obtain cash or goods.


Review each day’s transactions in front of your associates for accuracy as well as paying attention to suspicious activity, such as an employee regularly voiding cash transactions.


Give employees their own password or number to use at the register to ensure you know who is responsible for every system action.


Employ technology effectively - Security cameras, both hidden and visible, are a valuable deterrent to theft. Review your security camera footage each night to monitor suspicious behavior associated with theft or shoplifting.


Fight back against shrink this holiday season with these recommended surveillance solutions for retailers.

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