Investing In Something Now Can Pay Off Big Later; Loss Prevention Pays For Itself – How Fast? An ROI Calculator Can Show You
I came across something I found very interesting while Googling around the internet. An article in The Simple Dollar, “12 Items That Pay For Themselves Tenfold Or More”, by Holly Johnson, 5/28/15, lists 12 household items that save consumers money over time. Her list includes:
1. Slow Cooker or crockpot
2. Coffee Maker
3. LED Light Bulbs
5. Netflix; Roku Box and HDTV Antenna
6. Programmable Thermostat
7. Commuter Bike
8. Brita Water Pitcher
9. Dryer Balls
10. Home Gym
11. Cloth Diapers
12. Cloth Napkins
Her article explains how each item can save money for the user and estimates how much you can save. In some cases she mentions how the purchase not only saves money but also provides other benefits like using a water pitcher system saves the purchase of bottles of water but also saves plastic bottles from going to the landfill. For retailers I would add that Loss Prevention pays for itself – how fast? The answer may surprise you.
Loss Prevention pays for itself – how fast? You may also be wondering if that’s even possible. Let me assure you, it is possible and it could be faster than you would imagine. Let me start by asking my own question, how much is theft costing your store each year? Are you losing 1%? Maybe you are losing 2% or more? Do you even have any idea? According to the 2014/2015 Global Retail Theft Barometer (GRBT) for retail stores in North America the cost of retail theft/crime as a percent of total sales in 2014-2015 stood at 1.98% (pg. 59)! How much of your profit would that amount to? Now, consider what the benefit would be to you if you could cut that number by almost half (or potentially more than that) each year. By investing in a Loss Prevention system from Checkpoint you could significantly cut your annual shrink. Over time the savings would pay for the system and afterwards you would enjoy the benefit in the form of increased profits. The Loss Prevention ROI Calculator can be used to show you how long it would take for your investment in a Checkpoint System to pay for itself. Oh, did I mention that the use of the Loss Prevention ROI Calculator is a FREE tool with no obligations and no logins required that would trigger a lot of unrequested solicitations? Plug in some numbers and see the results. If you find you do like the results, a link is provided to request more information but it is up to the user to seek this information.
I mentioned that the writer of the article pointed out how the items she listed pay for themselves and some had added benefits such as reducing energy use, keeping less material from filling landfills, etc. Adding a Checkpoint system to your store not only benefits your bottom line it also benefits the planet. Checkpoint Hard Tags are reusable. There is also remote maintenance that can take place saving unnecessary trips to stores by technicians. Having personal experience using EAS hard tags I can verify the claims that the tags can be used over and over again. I have collected the tags that were removed at the point of sale and taken them to the loading dock for reapplication. My point is you can not only recognize how you are helping the environment, you can also use this as a means of reaching your customers who may be concerned with environmental issues. Advertise it on your social media pages.
Loss Prevention pays for itself – how fast? The question is a good one. The free Loss Prevention ROI calculator can give you that information. LED light bulbs use electricity and save money, paying for themselves over time. Clothesline allows the drying of clothes without using any electricity so a $6.00 investment pays for itself in a very brief period of time by not having to run the dryer. Give it a shot see how quickly an investment in Loss Prevention can save you money and begin paying you back in reduced shortage.
Need information on the ROI calculator? Give us a call at 1.866.914.2567 now.