Shrink is what retail stores call any loss sustained as a result of theft or lost inventory. Most retail stores do a full inventory of everything they have at least once a year. The amount of merchandise they expect to have is compared with the amount they actually have after counting, and the shrink is the difference between the two. If you want to limit your store's shrink, you'll have to do what you can to protect your inventory from shoplifting and mismanagement. To that end, here are some tips that might help.
Keep Your Fixtures Low and Use Mirrors to Eliminate Blind Spots
If you want to prevent shoplifting in your store, don't give your shoppers an easy way to quickly conceal merchandise. Consider lowering the height of your fixtures or shelves so that you can easily see where everyone is in the store at all times. If you do have some back corners where it might be easy to conceal things, set up some mirrors or video cameras that can easily show you what is going on back there.
Stay Organized So You Can Easily Track Things
Make sure every shelf is well-organized and clearly labeled. Know how many pieces of merchandise are supposed to be in a given area or setup. If you notice things out of place, restore order as soon as possible. Better organization can help you notice when something doesn't look right. This might allow you to check your cameras or more closely monitor a specific area that is getting repeatedly hit. Not every missing item is going to be the result of theft, of course, and you can expect merchandise to deplete as you sell it over time. But if you know you haven't sold any video games today and there appear to be video games missing, you can adapt your practices to keep a closer watch on this area in the future.
Install a Professional Security System
If you own a smaller retail store, you might not yet have a security system set up. It's possible today to set up a system that will allow you to closely monitor your entire sales floor without breaking your budget. You might also be able to place trackers or alarm triggers on specific merchandise, alerting you when someone tries to take the merchandise out the door without paying for it.
Contact a provider of security systems today, like Sonitrol Security Systems, for more information.