RETAIL LOSS PREVENTION…WHAT MEASURES WILL HELP YOUR STORE?

There are many ways retail loss prevention can be monitored.  Have you ever noticed the back of your debit credit card? (I hope you all have any way!!)  There is a strip on the back for your signature.  This serves a purpose in that the retailer should check for a signature match on a slip when a purchase is made.  If no signature is present, the retailer should ask for identification.

I had an interesting experience not too long ago.  My company requested I purchase an item on a company credit card.  The card was in a male employee’s name with our company name underneath. I’m female by the way! He was unable to go with me to make the purchase.  I marched in Home Depot, bought a $500 dollar item, handed them a credit card, not even remotely resembling a male or the signature and guess what? They said thank you, have a nice day and I left with my purchase!  Obviously, this is certainly not a good policy for retail loss prevention .

Credit card fraud is a huge problem in actual retail stores.  The retailers have become very relaxed on their credit card acceptance policies.  One reason is a retailer is not liable for fraudulent credit card charges.  It gives them no incentive to check identities of the user.

The second reason they are so negligent is they want to shorten customer’s time standing in a checkout line.  I would much rather stand in line for a few minutes longer and ensure that my credit cards are safe than be in a 5 minute time saving hurry!

Would be credit card thieves contribute to inventory shrinkage through many different avenues.  Preventing credit card fraud at your locations is one of the simplest ways to maximize retail loss prevention .

Need help finding other ways to secure your business and increase profit? For more information contact us at retail loss prevention or call 1.866.914.2567

Posted October 26th, 2010 by Staff Writer and filed in Uncategorized

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