We’re now in a new fiscal year, and what that means for most of us is that changes are coming. What it also means for me is that I have to hear that silly word, “fiscal” used over and over again. Usually at this time of the year, we are able to look back at the previous year’s data and analyze what we did right, and what we can improve upon. Whether you have a liquor store, or a larger store that carries only a small selection of alcoholic products, you may be scared to look, but it’s time to check out what losses occurred and what measures you took last year reduced your loss and increased your profit. This is your chance to see if the investments you made in bottle security products actually paid off.
Don’t get too overwhelmed by the mountains of data that you may have to read over and come up with new plans of action for different areas of the business. Start off with the top five or ten items and go from there, because if you make a huge list, your focus becomes more widespread and you are defeating the entire purpose of the process. Compare your sales from last year to sales from the previous year, then look at your shrink or loss from the same years to find out what percentage of loss you have compared to the sales. After that, list your top losses and see how the Bottle Locks or other merchandise protection devices you purchased affected your loss in the areas you used them on the products.
You may be surprised, or even excited by the numbers you see in front of you. The loss associated with the bottles you protected with Bottle Loks may have significantly been reduced. If this is the case, you can choose to keep that plan in place or even increase your bottle security measures on other lower cost items. It really just depends on what your numbers show you, and if you personally observed the devices at work throughout the year. On the other hand, if you look at the numbers and see that the theft has increased or stayed the same, you may want to check out other options like locking up some of the more expensive items in a locked showcase.
Although that may seem like a drastic measure, it will almost definitely stop theft of the items, while it still allows customers to see the merchandise displayed inside the glass case or cage. If this seems like too severe of a change for your situation, you can try to use different types of bottle locks. There are several different options available, so if you were using a certain type of device in the past, you may want to try an EASy bottle guard instead.
The fact is, you need to do whatever you can to stop your loss from growing if you plan on staying in business for years to come. If you’re not taking advantage of this opportunity to look at the data and make needed changes to your business, you’re missing out on valuable information that could save you tons of money. You’re just helping the shoplifters out and hurting yourself. It doesn’t take a lot of time to sit down and look at the numbers and see where improvements need to be implemented.
For more information contact us: Bottle Security or call 1.770.426.0547