Loss Prevention Calculator -3 WC Blog 717
Loss Prevention ROI Calculator-3
Loss Prevention Calculator Makes It Clear Why A New EAS System Is A Smart Choice
Where is a Loss Prevention Calculator for making an online purchase of an electronic article surveillance system (EAS)? No, I’m not making an EAS purchase but I was curious and looking at what it would cost if I were in the market for a used one. I found one for a little over 3K and according to the online seller it comes with towers, deactivator, re-activator, control box and a couple of other items. I saw no tags or labels included but I thought what the heck, I can find used tags too right? I can save a lot of money here. After I read through the entire description I found something at the very last line of the page that would concern me if I was a buyer. I would call it the small print but to be fair it was the same size font as everything else. The last line reads, “Please know what you are buying, know how to install & program”. I’m no electrician or computer programmer and I am sure many of you reading this are not either. I have worked around EAS for nearly 28 years and I have replaced a few parts but to install a system or program it, NO THANK YOU! An EAS system can save a retailer a lot of money by reducing shrinkage by almost half (or more in some cases) but you need to know that the supplier is reputable. Use the Loss Prevention ROI Calculator to find out how a NEW system can save you money and even pay for itself over time.
To locate and use the Loss Prevention Calculator just search for the Loss Preventions Systems, Inc. website and find the tab at the top of their page that say ROI Calc. The calculator will ask for your approximate annual sales and how much you are thinking of spending on EAS equipment and the result will show you how much you can reduce shrink by AND how long it will take for your system to pay for itself. There is no sales pitch or registration that is going to solicit a bunch of unwanted emails into your inbasket. Loss Prevention Systems, Inc. wants store owners to know how much a new Sensormatic can save your business in theft related shortage each year. You are going to the web site of a company that has been in business since 1983 with the goal of helping small and medium size retailers stop theft and significantly reduce shortage in those stores (by the way, they like to help big retailers too!). That they went out of their way to create a free Loss Prevention ROI Calculator demonstrates their commitment to stopping shoplifters and their activity.
Perhaps you are one of those people who is an electrician and computer programmer and confident in your ability to install and program an EAS system. You may not even need to use a Loss Prevention Calculator because you are that sure of your abilities and can make anything work. What is your time worth? You may be able to get that used system and you may be able to install it but is it worth the investment of your time to do all of the work? If you are running a retail store you have to be focused on it and installing a used system may be more than you bargained for if it doesn’t work. How about a warranty and support? If you get a system like the one I found online there is no support or help for you. On the other hand if you purchase a Sensormatic system through Loss Prevention Systems, Inc. you get a 1 year warranty and you receive installation of your system by a Sensormatic factory technician. But the benefits you receive by purchasing from Loss Prevention Systems, Inc. don’t stop there. You also get free online live shoplifting prevention training from Loss Prevention Systems, Inc. and assistance in setting up a loss prevention program for your store.
I am not saying that there is not an appropriate time and place to purchase used stuff. However when it comes to Loss Prevention and keeping your merchandise secure there is no substitute for getting new equipment and the support offered by Loss Prevention Systems, Inc. So stop reading, go to their website and use the Loss Prevention ROI Calculator to find out how you can start saving money almost immediately with a new Sensormatic system.
Get more information on the Loss Prevention Calculator, contact us or call 1.770.426.0547 today.
Where is a Loss Prevention Calculator for making an online purchase of an electronic article surveillance system (EAS)? No, I’m not making an EAS purchase but I was curious and looking at what it would cost if I were in the market for a used one. I found one for a little over 3K and according to the online seller it comes with towers, deactivator, re-activator, control box and a couple of other items. I saw no tags or labels included but I thought what the heck, I can find used tags too right? I can save a lot of money here. After I read through the entire description I found something at the very last line of the page that would concern me if I was a buyer. I would call it the small print but to be fair it was the same size font as everything else. The last line reads, “Please know what you are buying, know how to install & program”. I’m no electrician or computer programmer and I am sure many of you reading this are not either. I have worked around EAS for nearly 28 years and I have replaced a few parts but to install a system or program it, NO THANK YOU! An EAS system can save a retailer a lot of money by reducing shrinkage by almost half (or more in some cases) but you need to know that the supplier is reputable. Use the Loss Prevention ROI Calculator to find out how a NEW system can save you money and even pay for itself over time.
To locate and use the Loss Prevention Calculator just search for the Loss Preventions Systems, Inc. website and find the tab at the top of their page that say ROI Calc. The calculator will ask for your approximate annual sales and how much you are thinking of spending on EAS equipment and the result will show you how much you can reduce shrink by AND how long it will take for your system to pay for itself. There is no sales pitch or registration that is going to solicit a bunch of unwanted emails into your inbasket. Loss Prevention Systems, Inc. wants store owners to know how much a new Sensormatic system can save your business in theft related shortage each year. You are going to the web site of a company that has been in business since 1983 with the goal of helping small and medium size retailers stop theft and significantly reduce shortage in those stores (by the way, they like to help big retailers too!). That they went out of their way to create a free Loss Prevention ROI Calculator demonstrates their commitment to stopping shoplifters and their activity.
Perhaps you are one of those people who is an electrician and computer programmer and confident in your ability to install and program an EAS system. You may not even need to use a Loss Prevention Calculator because you are that sure of your abilities and can make anything work. What is your time worth? You may be able to get that used system and you may be able to install it but is it worth the investment of your time to do all of the work? If you are running a retail store you have to be focused on it and installing a used system may be more than you bargained for if it doesn’t work. How about a warranty and support? If you get a system like the one I found online there is no support or help for you. On the other hand if you purchase a Sensormatic system through Loss Prevention Systems, Inc. you get a 1 year warranty and you receive installation of your system by a Sensormatic factory technician. But the benefits you receive by purchasing from Loss Prevention Systems, Inc. don’t stop there. You also get free online live shoplifting prevention training from Loss Prevention Systems, Inc. and assistance in setting up a loss prevention program for your store.
I am not saying that there is not an appropriate time and place to purchase used stuff. However when it comes to Loss Prevention and keeping your merchandise secure there is no substitute for getting new equipment and the support offered by Loss Prevention Systems, Inc. So stop reading, go to their website and use the Loss Prevention ROI Calculator to find out how you can start saving money almost immediately with a new Sensormatic system.
Get more information on the Loss Prevention Calculator, contact us or call 1.770.426.0547 today.
Retail Theft Prevention – 3 WC Blog 725
Sensormatic Tags – 4
Does Retail Theft Prevention Work In A Store With Self-Checkout?
I have often wondered what kind of retail theft prevention measures are taken for stores that set up self-checkout machines in their stores. I have used them myself (and I have gotten rather annoyed with them at times) but as a Loss Prevention professional I have been curious about whether stores see an increase in theft when they are used. I came across an article in d-ddaily.com, “Self Checkout in Retail – Measuring the Loss New Report Reveals the Extent of Losses from Self-Checkout and Identifies Practical Ways to Manage it”. The story validates my concern that self-checkout poses a risk of increased shortage for stores. The report states, “Stores using Scan-and-Go technologies could see an increase of between .7 and 10.4 basis points of additional loss for every one percent of sales processed. In the study the average utilization rate for Scan-and-Go was 2.8% of sales value, suggesting additional stock losses of between .01% and .29% of sales value.” I have been unsuccessful in that I have not been able to find any information that demonstrates self-checkout machines improve sales. Because of this I believe the sole purpose of the self-checkout is to save on payroll. Add four machines at one point of sale and reduce your cashiers by three. It sounds good at first but what happens when that cashier starts getting pulled in all directions? The opportunity for theft increases. You also have the problem of merchandise with Sensormatic tags on them that need to be removed but the customer does not know it. Self-Checkout machines may not be all they have been cracked up to be for a number of reasons.
When a store uses Sensormatic tags to protect their products from theft it requires a detachment tool be maintained at the point of sale. These tools should be secured to the counter to prevent theft and should only be within the grasp of an employee. If customers are permitted access of any sort to a removal device they will eventually be stolen. Shoplifters love to get hold of this equipment because it gives them the ability to enter other stores that use the same retail theft prevention devices and remove their tags with impunity. This means that stores with self-checkout machines have to put up signage directing patrons with hard tagged items to use regular cashier lanes. I don’t know how you feel about being redirected but I don’t like being in a line and then having to move. It is not good customer service to send people from one lane to another because of merchandise cannot be processed at a point of sale.
Aside from the irritating aspect of having not being able to take merchandise with Sensormatic tags through a self-checkout machine there is the theft concern. I have gone through the self-checkout at one big box retailer with one associate managing eight registers. I have observed the one cashier tied up helping one customer for almost five minutes oblivious to the activity at other registers (that’s right the red light at my register was flashing as I was waiting for this cashier to finish). It would have been very easy for any of the other customers to load up shopping bags and stroll out of the store without paying. The bagging area does not require a customer to leave bags on the bagging stand after they are filled. Put them back in the shopping cart and it would be easy to have a partner fill the bags with more merchandise already in the cart.
It is also important to not lose sight of the potential loss of business self-checkouts may cause. According to a Forbes article, Dec. 6, 2016 by Bryan Pearson, “Making Self-Checkout Work: Learning From Albertsons”, the writer points out the potential for customers leaving stores due to these point of sale machines. “Reduced interactions with a store employee could easily result in an eroded sense of personal connection with the retailer or brand. This gets to emotion. Without it, it’s much easier to move one’s business elsewhere.”
Losing sales from a lost personal connection and an increase in shortage because of a self-checkout process doesn’t make sense. Use retail theft prevention measures which include Sensormatic tags AND more customer service assistance on the salesfloor and you will improve sales and reduce theft. As your employees engage shoppers and help them there will be an increase in the dollars per transaction. THAT is how you increase sales and improve profits.
Get more information on retail theft prevention, contact us or call 1.770.426.0547
I have often wondered what kind of retail theft prevention measures are taken for stores that set up self-checkout machines in their stores. I have used them myself (and I have gotten rather annoyed with them at times) but as a Loss Prevention professional I have been curious about whether stores see an increase in theft when they are used. I came across an article in d-ddaily.com, “Self Checkout in Retail – Measuring the Loss New Report Reveals the Extent of Losses from Self-Checkout and Identifies Practical Ways to Manage it”. The story validates my concern that self-checkout poses a risk of increased shortage for stores. The report states, “Stores using Scan-and-Go technologies could see an increase of between .7 and 10.4 basis points of additional loss for every one percent of sales processed. In the study the average utilization rate for Scan-and-Go was 2.8% of sales value, suggesting additional stock losses of between .01% and .29% of sales value.” I have been unsuccessful in that I have not been able to find any information that demonstrates self-checkout machines improve sales. Because of this I believe the sole purpose of the self-checkout is to save on payroll. Add four machines at one point of sale and reduce your cashiers by three. It sounds good at first but what happens when that cashier starts getting pulled in all directions? The opportunity for theft increases. You also have the problem of merchandise with Sensormatic tags on them that need to be removed but the customer does not know it. Self-Checkout machines may not be all they have been cracked up to be for a number of reasons.
When a store uses Sensormatic tags to protect their products from theft it requires a detachment tool be maintained at the point of sale. These tools should be secured to the counter to prevent theft and should only be within the grasp of an employee. If customers are permitted access of any sort to a removal device they will eventually be stolen. Shoplifters love to get hold of this equipment because it gives them the ability to enter other stores that use the same retail theft prevention devices and remove their tags with impunity. This means that stores with self-checkout machines have to put up signage directing patrons with hard tagged items to use regular cashier lanes. I don’t know how you feel about being redirected but I don’t like being in a line and then having to move. It is not good customer service to send people from one lane to another because of merchandise cannot be processed at a point of sale.
Aside from the irritating aspect of having not being able to take merchandise with Sensormatic tags through a self-checkout machine there is the theft concern. I have gone through the self-checkout at one big box retailer with one associate managing eight registers. I have observed the one cashier tied up helping one customer for almost five minutes oblivious to the activity at other registers (that’s right the red light at my register was flashing as I was waiting for this cashier to finish). It would have been very easy for any of the other customers to load up shopping bags and stroll out of the store without paying. The bagging area does not require a customer to leave bags on the bagging stand after they are filled. Put them back in the shopping cart and it would be easy to have a partner fill the bags with more merchandise already in the cart.
It is also important to not lose sight of the potential loss of business self-checkouts may cause. According to a Forbes article, Dec. 6, 2016 by Bryan Pearson, “Making Self-Checkout Work: Learning From Albertsons”, the writer points out the potential for customers leaving stores due to these point of sale machines. “Reduced interactions with a store employee could easily result in an eroded sense of personal connection with the retailer or brand. This gets to emotion. Without it, it’s much easier to move one’s business elsewhere.”
Losing sales from a lost personal connection and an increase in shortage because of a self-checkout process doesn’t make sense. Use retail theft prevention measures which include Sensormatic tags AND more customer service assistance on the salesfloor and you will improve sales and reduce theft. As your employees engage shoppers and help them there will be an increase in the dollars per transaction. THAT is how you increase sales and improve profits.
Get more information on retail theft prevention, contact us or call 1.770.426.0547
retail traffic counting – 4 WC Blog 718
Customer Counting Device – 4
Score Big When You Use A Customer Counting Device – Part 1
As retailers we count money as the measure of our success but I believe often we overlook the importance of retail traffic counting as a measure of success (or missed opportunity). I will use one of my favorite analogies to demonstrate what I mean. I attended a Coastal Carolina Football game some time ago and the announcer heralded the attendance numbers for this game based on “ticket sales”. He didn’t say ticket sales but that was what he meant. I can make this conclusion because looking around the stadium there was absolutely no way the attendance matched the numbers he was giving us. Had his numbers been actual people in the stadium the stands would have been packed and would have added energy to the home team. Unfortunately things just did not match up which I believe does not help the morale of the team. That is simply my assumption but a safe one I think since we lost the game. Now I would like you to think about this in terms of your own store. Do you focus on your “sales” dollars but fail to see how many people are walking through your doors? Do you use a customer counting device in your business? The CEO of Loss Prevention Systems, Inc. Bill Bregar has been in the business of improving sales and decreasing shortage for stores for over 30 years. As a business owner himself and a former Director of Loss Prevention for several major retailers he has learned to look at numbers from a different perspective than many of us would. He recognized that sales represent only a portion of the overall retail picture. Shortage and customer traffic are two major factors that cannot be overlooked but often are due to a lack of information.
In order to follow through on his business commitment to helping retail businesses improve sales and profits Bill wanted to help store owners see that sales numbers are not providing a complete picture of store activity. He found that Sensormatic has a customer counting device that accurately tracks the number of people entering a store. The data gathered by the systems helps store managers see a bigger picture than just point of sale information. For example, let’s say you had a great sales day for your business with $10,000 in sales and 500 transactions. For this example we will assume that no customer returns took place on this day. This means on average each customer spent $20.00 in your store if you use your transaction total as your measure for success. Now the way Bill sees it you didn’t have 500 people in your store that day despite what your transaction tally says. You focus on retail traffic counting using a Sensormatic
Customer counting device and find out you had 800 people walk through your doors. Sure, some of those were children with an adult but some of those were people who walked in and walked out without making a purchase! Good Grief, what happened that those potential customers left empty handed? Was there a missed opportunity for another $6,000 in sales or even $3,000 assuming some of those were children or couples? Do you see that you have only been looking at a small piece of a bigger picture? Bill does and wants to help you change how you look at your business. That begins with the installation of a retail traffic counting system.
Retail owners that have a Sensormatic anti-theft system in place may already be half way there since a customer counting device can be added to many existing Sensormatic towers. If you don’t have a Sensormatic system don’t fret, Loss Prevention Systems, Inc. can help you with that as well as the door counter. In part 2 we will discuss why the anti-theft system is important to your store for more than just adding a people counter. As I said earlier, Bill wants to help stores improve profits through shortage reduction and increasing sales which go hand in hand. But if you want to find out more you will have to tune in for part 2 of this series to learn how you can score a touchdown in increased sales with a retail traffic counting system.
Need information on a customer counting device? Give us a call at 1.770.426.0547 now.
As retailers we count money as the measure of our success but I believe often we overlook the importance of retail traffic counting as a measure of success (or missed opportunity). I will use one of my favorite analogies to demonstrate what I mean. I attended a Coastal Carolina Football game some time ago and the announcer heralded the attendance numbers for this game based on “ticket sales”. He didn’t say ticket sales but that was what he meant. I can make this conclusion because looking around the stadium there was absolutely no way the attendance matched the numbers he was giving us. Had his numbers been actual people in the stadium the stands would have been packed and would have added energy to the home team. Unfortunately things just did not match up which I believe does not help the morale of the team. That is simply my assumption but a safe one I think since we lost the game. Now I would like you to think about this in terms of your own store. Do you focus on your “sales” dollars but fail to see how many people are walking through your doors? Do you use a customer counting device in your business? The CEO of Loss Prevention Systems, Inc. Bill Bregar has been in the business of improving sales and decreasing shortage for stores for over 30 years. As a business owner himself and a former Director of Loss Prevention for several major retailers he has learned to look at numbers from a different perspective than many of us would. He recognized that sales represent only a portion of the overall retail picture. Shortage and customer traffic are two major factors that cannot be overlooked but often are due to a lack of information.
In order to follow through on his business commitment to helping retail businesses improve sales and profits Bill wanted to help store owners see that sales numbers are not providing a complete picture of store activity. He found that Sensormatic has a customer counting device that accurately tracks the number of people entering a store. The data gathered by the systems helps store managers see a bigger picture than just point of sale information. For example, let’s say you had a great sales day for your business with $10,000 in sales and 500 transactions. For this example we will assume that no customer returns took place on this day. This means on average each customer spent $20.00 in your store if you use your transaction total as your measure for success. Now the way Bill sees it you didn’t have 500 people in your store that day despite what your transaction tally says. You focus on retail traffic counting using a Sensormatic
Customer counting device and find out you had 800 people walk through your doors. Sure, some of those were children with an adult but some of those were people who walked in and walked out without making a purchase! Good Grief, what happened that those potential customers left empty handed? Was there a missed opportunity for another $6,000 in sales or even $3,000 assuming some of those were children or couples? Do you see that you have only been looking at a small piece of a bigger picture? Bill does and wants to help you change how you look at your business. That begins with the installation of a retail traffic counting system.
Retail owners that have a Sensormatic anti-theft system in place may already be half way there since a customer counting device can be added to many existing Sensormatic towers. If you don’t have a Sensormatic system don’t fret, Loss Prevention Systems, Inc. can help you with that as well as the door counter. In part 2 we will discuss why the anti-theft system is important to your store for more than just adding a people counter. As I said earlier, Bill wants to help stores improve profits through shortage reduction and increasing sales which go hand in hand. But if you want to find out more you will have to tune in for part 2 of this series to learn how you can score a touchdown in increased sales with a retail traffic counting system.
Need information on a customer counting device? Give us a call at 1.770.426.0547 now.
