Shoplifting & Retail Loss Prevention Training ProgrammeFor Retail Executives

 

 

  • 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 the DNA of their organizations.

      They create a culture in which every single employee is willing to help in the fight against shrinkage.

 

Dear Retail Executives,

      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 profit margin: 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 merchandise.

      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 calls in the administrators or go out of business.

      Are you still surprise that many retailers get into trouble the moment there is a jolt in the economy?

 

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 retail organisation, 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 in other profit generating activities.

      The easiest way to make profit in retail is to reduce your shrinkage level while simultaneously increasing your sales.

       There are two reasons 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 absence 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 get 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 flaw.

      The reason for 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 or 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 your retail organisation, you simultaneously stem shoplifting and 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 was 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.

      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 more effective in shoplifting prevention than any other conceivable strategy.  

 

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.

      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.

 

      You cannot make profit if you lack the ability to stem profit draining activities in your organisation.

     

This four hours training workshop will point out to retail executives profit draining activities in their retail organisation and show them how to stem those activities in order for them to reduce their shrinkage and increase their profit margin.  

 

Course Contents

Prioritising Loss Prevention:

  • Why loss prevention is 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

 

BENEFIT OF THE COURSE TO RETAIL EXECUTIVES

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: Cliff Richards
  • By Phoning: 020 8798 0579
  • Workshop date: third Tuesday of each month
  • Venue: Hilton London Olympia Hotel, 380 Kensington High St, London W14 8NL
  • Group booking discount: email- info@theprofitexperts.co.uk for group booking discount
  • Enquire about in-house training: email- info@theprofitexperts.co.uk for information about in-house training
  • Course fees: £997 per delegate

 

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

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 retail shrinkage goes way beyond theft.

      We are aware of the fact that retail shrinkage is caused by process & systemic failure, opportunity and human factors.

      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’ 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: Cliff Richards
  • By Phoning: 020 8798 0579
  • Workshop date: third Tuesday of each month
  • Venue: Hilton London Olympia Hotel, 380 Kensington High St, London W14 8NL
  • Group booking discount: email- info@theprofitexperts.co.uk for group booking discount
  • Enquire about in-house training: email- info@theprofitexperts.co.uk for information about in-house training
  • Course fees: £997 per delegate 

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

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

 

Other retail training from The Business Education Center:

 

Shoplifting Retail Loss Prevention Training for Retail Manager

Click here for details:

https://romeorichards.com/shoplifting-retail-loss-prevention-training-programme-store-manager/

 

Shoplifting Retail Loss Prevention Training for Retail Associates

Click here for details:

https://romeorichards.com/shoplifting-retail-loss-prevention-training-programme-retail-associates/

 

How to Increase Retail Sales With Store Design, Visual Merchandising Display & Shoplifting Loss Prevention workshop

Click here for details: 

https://romeorichards.com/increase-retail-sales-store-design-visual-merchandise-display-workshop2/

 

 

The Business Education Center Retail Products:

 

How to Increase Retail Sales With Store Design & Visual Merchandising Display Home Study Course

Click here for details:

https://romeorichards.com/home-study-course-about-increasing-retail-store-sales-with-store-design-visual-merchandising-display-retail-shoplifting-loss-prevention-launch-discount-2/

 

Retail Store Design Blueprint Home study Course

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https://romeorichards.com/home-study-course-about-retail-store-design/

 

Visual Merchandising display Home Study Course

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https://romeorichards.com/home-study-course-about-visual-merchandising-display/

 

How to Influence Shoppers Buying Behaviour Home Study Course

click here for details: 

https://romeorichards.com/home-study-course-about-influencing-consumer-buying-behaviour/

 

Shoplifting Retail Loss Prevention Home Study Course

Click here for details: 

https://romeorichards.com/home-study-course-about-shoplifting-retail-loss-prevention/

Small Business Growth & Marketing Consulting Agency London

Small Business Growth & Marketing Consulting Agency London