Where does customer and employee theft normally take place in the retail store?

Where does customer and employee theft normally take place in the retail store?

The Point of Sale – The Point of Sale is where many cases of theft occur, so look to POS software which requires staff to log in with unique access codes so you can see who is at the register, when. Use reporting features to track gift card sales and examine all discounts and returns.

What is theft called in retail?

Shoplifting
External theft Also known as Shoplifting, thefts that occur in retail settings are done during business hours and involve the lack of security and prevention measures.

Do employees steal from stores?

A global study of retail theft found that employees who steal from retailers average $1890 in theft, while the average shoplifter will only take about $438. That’s pretty shocking. Of course, it should be emphasized that it is only a small minority of your employees who will actively steal from you.

What happens if you steal from a store you work at?

The company you stole from could charge you with gross misconduct and fire you immediately. Or you could face suspension, without pay, while the company conducts an investigation, in which case you could still be terminated or face a major demotion or transfer. And yeah — you may also face criminal charges as well.

Who steals more customers or employees?

The Global Retail Barometer, an annual report released late last week, revealed that American retail staff steal a lot more from their employers than actual, dedicated thieves: Employees account for 43 percent of revenues that were lost but shouldn’t have been, while shoplifters account for 37 percent.

Which costs more employee theft or shoplifting?

The NRSS said the average dollar loss per employee theft exceeds that in shoplifting incidents, partly because employee thefts can occur over extended periods of time. In 2010, employee theft cases averaged $996.32 while shoplifting cases averaged $337.50, according to the NRSS.

Who controls shrink in retail?

Retail staff are responsible for more than a third of shrink. There are two angles to come at this: internal (employee) theft and external theft.