When anyone or the owner of a retail store thinks of risks then, store theft is number one. The thought of someone passing hundreds of dollars of products in a bag and going out with them is terrible. Well, unfortunately, there is one more threat that could be even greater than from previous warning, i.e. employees of a particular retailer store. So to find out internal theft detection is very important to gain the profit.
A worldwide study of retail theft concludes that employees who steal from retailer shops average $ 1890 in theft, while the regular thief will only take near around $ 438. That’s very disgusting. Of course, it should be stress that only a small minority of a particular retail store employees will actively steal from a retail shop. This study or survey like to add in their researcher is that a lot of well-intentioned employees can by mistake contribute to store losses by making silly mistakes during inventory counting or misinterpreting strategy or discounts and delivering them at the incorrect time.
Types of employee theft in retail
There are many ways in which an employee can keenly steal from a retailer shop these days, but here are some of the main ones:
- Stealing products
Employees can steal products, either to keep them alone or to sell them somewhere on the Internet. A classic way of stealing products is to hide a little one in the trash when it removed, which will be recovered from the trash container later. Employees can also conceal small items on their bags.
- Theft of gift cards
The gift cards are very much famous these days, mainly because it is hard to detect. There are several methods to carry out this scam, but generally, employees will issue wrong refunds to the gift cards they will keep. They can also offer a customer to purchase a gift card a blank gift card while keeping the card charged. This type of fraud is unsafe.
When a cashier chooses not to recover the goods that a friend or family member wants to withdraw from the store. It can also be when a cashier incorrectly gives the discount from the store to their friends or family members.
- Identity theft
This last method of inside theft may not be directed against the store, but is within a similar group of actions and may cost to a particular store its reputation. Retail employees have plenty of chance to steal customer identities. For example, a retailer store not only accepted credit cards by phone but also social security numbers if they wanted to open a credit card for someone.
Employees have been removing the top part of the cash box for years. Employees who know that their owner will not mind a discrepancy of a few dollars in the cash drawer can take benefits of owner by little skimming a large amount of cash over time.
If a person cannot find pilferage detection, then it costs a person or owner of any retail shop thousands of dollars and is one of the enormous threats to a particular business. But by applying specific strategies and using the right technology, the owner of the retail shop can mitigate a large part of his loss.