Issue
Question: Will a shark tag damage my merchandise?
Response
Answer: Shark Tags are designed with needle-like construction and are very smooth. However they should always be placed on a seam.
LPSI (Loss Prevention Systems Inc.) is the leading nationwide seller inside the U. S. for Checkpoint Systems and Alpha High Theft Solutions. We have nationwide sales, supplies, and services. Loss Prevention Systems delivers more than shoplifting prevention products; it also brings knowledge in retail industry while providing actual guidance on using methods to prevent retail thefts and merchandise losses. Prevent Retail Loss NOW with Loss Prevention Systems and Checkpoint Systems solutions.
For additional info on Checkpoint Systems, go to the website atwww.LossPreventionsystems.com or call 1 (770) 426-0547.
Alpha Shark Tags-3 WC Blog 203
Wardrobing-5
Return Fraud-3
Dressing For Success May Result In Stores Being Victims Of Wardrobing; Prevent Return Fraud With Alpha Shark Tags Part 2
In part 1 of this series I discussed the difficulty that can experienced by someone who has been in the workforce for a while and is now having to job hunt. New college graduates can face similar problems since they tend to be on fixed budgets. My wife and I are the parents of three young adults. We have two sons who are in college and will be graduating in a year and two years respectively. One will be entering the job market as a teacher, the other may take an extra year or two and get his MBA and go into the world of business and finance. They will all be competing for jobs against other ambitious job seekers, some with prior work experience and some that are on the same “fresh out of college” level. It is important that as they begin interviewing they make strong first impressions, and part of that involves what they wear to the interview. The problem is that a new interview outfit can be expensive and it may be tempting for someone to buy an outfit or suit, wear it to their interview then return the clothes to the store for a refund. In retail this is called wardrobing and unfortunately it is more common than many people realize.
Wardrobing is a form of return fraud that takes place when a customer makes a purchase with the intent of wearing the item out someplace, maybe a party or special event and then returning it for a refund of what they paid for the items. Often those who are wardrobing will tuck price tags under the sleeve or the neckline and tape it up so the tags won’t be seen. Some will go so far as to purchase swift attachment guns and reattach the tags to the clothes. When they are done they return the clothes, with the receipt and tags in place, often saying the reason for return is that they changed their mind. This is fraudulent, because it deprives the retailer of the sale, and even the sales clerks, in some instances, lose commissions. The clothes sometimes have all sorts of odors on them, perfumes, food smells, cigarette smoke, that makes them unsellable, but if they are free of stains it is difficult to refuse a return. A retailer can take steps to prevent this type of return fraud if they will use Alpha Shark Tags on the clothes they sell.
Alpha Shark Tags can only be used once and when removed cannot be reapplied to a garment. The tags are put on by store associates and are removed by the customer when the customer gets the item home. The tags are not obtrusive and they won’t interfere with trying on a piece of clothing. By using Shark Tags the store benefits by requiring the tag to be intact on the merchandise to return it.
So what is my point in reference to job interviews and the chance of wardrobing? Well, according to an article in http://www.businessinsider.com/mens-interview-suits-2014-8 by Breton Fischetti, August 25, 2014, titled, “4 Things To Know When Buying Your First Interview Suit”, “A solid price point for the first suit should be around $500, give or take. Plenty of options can be found around and below that amount, but avoid very inexpensive suits, as they are often poor quality and will look cheap.” Now, I fully understand the writer’s point, making a good impression and buying a suit that will last is important. On the other hand, I would argue that for the first time interviewee, this may be a financial burden at this stage of a new career. If this is the trend that being promoted then it is easy to see how someone could be tempted to “purchase” a new suit and following the interview, return it to the store where they purchased it. The $500 investment would be for a few days at most and then refunded at the time of return.
Job interviews are important and dressing well is just as important, but it should never be a burden to a retailer. Interview attire should become part of a person’s professional wardrobe. Sell the clothes, be fair in your return policy but don’t be the victim of wardrobing and return fraud. Use Alpha Shark Tags and stay profitable and help future interviewees look great.
Get more information on Alpha Shark Tags, contact us or call 1.770.426.0547 today.
In part 1 of this series I discussed the difficulty that can experienced by someone who has been in the workforce for a while and is now having to job hunt. New college graduates can face similar problems since they tend to be on fixed budgets. My wife and I are the parents of three young adults. We have two sons who are in college and will be graduating in a year and two years respectively. One will be entering the job market as a teacher, the other may take an extra year or two and get his MBA and go into the world of business and finance. They will all be competing for jobs against other ambitious job seekers, some with prior work experience and some that are on the same “fresh out of college” level. It is important that as they begin interviewing they make strong first impressions, and part of that involves what they wear to the interview. The problem is that a new interview outfit can be expensive and it may be tempting for someone to buy an outfit or suit, wear it to their interview then return the clothes to the store for a refund. In retail this is called wardrobing and unfortunately it is more common than many people realize.
Wardrobing is a form of return fraud that takes place when a customer makes a purchase with the intent of wearing the item out someplace, maybe a party or special event and then returning it for a refund of what they paid for the items. Often those who are wardrobing will tuck price tags under the sleeve or the neckline and tape it up so the tags won’t be seen. Some will go so far as to purchase swift attachment guns and reattach the tags to the clothes. When they are done they return the clothes, with the receipt and tags in place, often saying the reason for return is that they changed their mind. This is fraudulent, because it deprives the retailer of the sale, and even the sales clerks, in some instances, lose commissions. The clothes sometimes have all sorts of odors on them, perfumes, food smells, cigarette smoke, that makes them unsellable, but if they are free of stains it is difficult to refuse a return. A retailer can take steps to prevent this type of return fraud if they will use Alpha Shark Tags on the clothes they sell.
Alpha Shark Tags can only be used once and when removed cannot be reapplied to a garment. The tags are put on by store associates and are removed by the customer when the customer gets the item home. The tags are not obtrusive and they won’t interfere with trying on a piece of clothing. By using Shark Tags the store benefits by requiring the tag to be intact on the merchandise to return it.
So what is my point in reference to job interviews and the chance of wardrobing? Well, according to an article in http://www.businessinsider.com/mens-interview-suits-2014-8 by Breton Fischetti, August 25, 2014, titled, “4 Things To Know When Buying Your First Interview Suit”, “A solid price point for the first suit should be around $500, give or take. Plenty of options can be found around and below that amount, but avoid very inexpensive suits, as they are often poor quality and will look cheap.” Now, I fully understand the writer’s point, making a good impression and buying a suit that will last is important. On the other hand, I would argue that for the first time interviewee, this may be a financial burden at this stage of a new career. If this is the trend that being promoted then it is easy to see how someone could be tempted to “purchase” a new suit and following the interview, return it to the store where they purchased it. The $500 investment would be for a few days at most and then refunded at the time of return.
Job interviews are important and dressing well is just as important, but it should never be a burden to a retailer. Interview attire should become part of a person’s professional wardrobe. Sell the clothes, be fair in your return policy but don’t be the victim of wardrobing and return fraud. Use Alpha Shark Tags and stay profitable and help future interviewees look great.
Get more information on Alpha Shark Tags, contact us or call 1.770.426.0547 today.
WHY TAKE INVENTORY AT THE START OF THE YEAR?
Finally! The holiday madness is over and it’s time to sit back, count our money and relax. There’s nothing else daunting on the horizon. Oh, wait… I forgot about inventory time! Who had the bright idea to take inventory right behind the busiest time of year!? It may be a bit of a challenge, but inventory is important to every business and can play a leading role in helping you to stop shoplifting.
While not an official retail rule, generally speaking, lots of retailers take inventory in January/February each year. There’s a few reasons why this is a good idea, and understanding why this can save you a lot of heart ache. See inventory time as a chance to hit the “reset” button on your stock and a chance to fix any big issues that may have gone un-noticed throughout the year.
Why now?
It may seem like we could give ourselves some time to catch our breath, right? Taking inventory actually makes sense right now. You probably have a little extra help in the store thanks to your holiday temps. Those extra sets of hands can really make a difference when you’re trying to count everything in the store.
Your store is at its lowest stock position.
I was out shopping with my wife and she made a comment about how “empty” the store we were in looked. It was week or two after Christmas and I remarked that they must have had a good season. Why count in the spring, when you can put your hands on less product and still get the job done?
Taxes and valuation
I’m not an accountant and I don’t have an in-depth knowledge of tax codes across the country. With that being said, most localities assess an inventory tax, with every company having to report at certain times of the year the inventory they have in the building, thus creating their tax burden on inventory. Obviously if you take your inventory right after the holiday, you have less on-hand, affecting your tax burden. Inventory, or more specifically, the cost of goods sold, is one indicator of overall business health. Taking inventory allows you to determine this number. This can be used against any business loans. This may not be the case everywhere, so I would always consult with your CPA regarding inventory tax and any financial decisions.
Employee theft (and external theft too!)
Another great advantage of taking inventory this time of year is to identify any patterns of employee theft that may have occurred during your busiest time of the year. Employee theft cases usually peak around November and December. Waiting too long before noticing may hinder your chances of recovering any loss money. Think about it. You take inventory in mid-January. You notice that a shipment of electronics worth $10,000 went missing in December. You find the manifest, run the security cameras and find a warehouse worker bring the shipment to his car. Chances of getting paid back are pretty high. Same situation, but you take inventory in July, for example. Shipping manifests may have gotten purged and your CCTV doesn’t hold recordings for that long. The warehouse worker goes undetected and steals even more from you. Pretty obvious, right? The same holds true for your external theft problems. Taking inventory now let’s you identify your patterns of loss, and ultimately let you better react to those patters, which will help stop shoplifting.
While it may seem daunting to start the inventory process so soon after such a busy time, trust me when I tell you that it’s absolutely for the best. Get it done now, while you’re light on product, heavy on help and before all your spring shipments start hitting the docks. You’ll clean up the holiday inventory, help stop shoplifting by identifying any patterns of theft/fraud, and clean your on hand counts to ensure you’re in the absolute best stock position. Happy counting!
For more information about Employee Theft contact us or call 1.770.426.0547.
Finally! The holiday madness is over and it’s time to sit back, count our money and relax. There’s nothing else daunting on the horizon. Oh, wait… I forgot about inventory time! Who had the bright idea to take inventory right behind the busiest time of year!? It may be a bit of a challenge, but inventory is important to every business and can play a leading role in helping you to stop shoplifting.
While not an official retail rule, generally speaking, lots of retailers take inventory in January/February each year. There’s a few reasons why this is a good idea, and understanding why this can save you a lot of heart ache. See inventory time as a chance to hit the “reset” button on your stock and a chance to fix any big issues that may have gone un-noticed throughout the year.
Why now?
It may seem like we could give ourselves some time to catch our breath, right? Taking inventory actually makes sense right now. You probably have a little extra help in the store thanks to your holiday temps. Those extra sets of hands can really make a difference when you’re trying to count everything in the store.
Your store is at its lowest stock position
I was out shopping with my wife and she made a comment about how “empty” the store we were in looked. It was week or two after Christmas and I remarked that they must have had a good season. Why count in the spring, when you can put your hands on less product and still get the job done?
Taxes and valuation
I’m not an accountant and I don’t have an in-depth knowledge of tax codes across the country. With that being said, most localities assess an inventory tax, with every company having to report at certain times of the year the inventory they have in the building, thus creating their tax burden on inventory. Obviously if you take your inventory right after the holiday, you have less on-hand, affecting your tax burden. Inventory, or more specifically, the cost of goods sold, is one indicator of overall business health. Taking inventory allows you to determine this number. This can be used against any business loans. This may not be the case everywhere, so I would always consult with your CPA regarding inventory tax and any financial decisions.
Employee theft (and external theft too!)
Another great advantage of taking inventory this time of year is to identify any patterns of employee theft that may have occurred during your busiest time of the year. Employee theft cases usually peak around November and December. Waiting too long before noticing may hinder your chances of recovering any loss money. Think about it. You take inventory in mid-January. You notice that a shipment of electronics worth $10,000 went missing in December. You find the manifest, run the security cameras and find a warehouse worker bring the shipment to his car. Chances of getting paid back are pretty high. Same situation, but you take inventory in July, for example. Shipping manifests may have gotten purged and your CCTV doesn’t hold recordings for that long. The warehouse worker goes undetected and steals even more from you. Pretty obvious, right? The same holds true for your external theft problems. Taking inventory now let’s you identify your patterns of loss, and ultimately let you better react to those patters, which will help stop shoplifting.
While it may seem daunting to start the inventory process so soon after such a busy time, trust me when I tell you that it’s absolutely for the best. Get it done now, while you’re light on product, heavy on help and before all your spring shipments start hitting the docks. You’ll clean up the holiday inventory, help stop shoplifting by identifying any patterns of theft/fraud, and clean your on hand counts to ensure you’re in the absolute best stock position. Happy counting!
For more information about Employee Theft, contact us or call 1.770.426.0547.
