The Modern Methods for Retail Theft.


Posted by Pedro Ramos - 30 April, 2010

The Modern Methods for Retail Theft

Managing retail loss, or shrink, has always been a priority for stores, but the recent downfall of the economy has resulted in downsizing, lower budgets for security technology, and increased customer theft.

A new article today from CSO Online features Derek Rodner, VP of Marketing and Product Strategy at Agilence, as he details some of the most common methods for retail theft in today's economy.

Though traditional shoplifting still runs rampant, criminals have also been found to use more ingenious methods as of late.

  • Counterfeit couponscan wreak havoc on a store's generally low profit margins; one store recently lost over $150k thanks to a counterfeit coupon that was used over the course of just a few days.
  • Self-checkouts, lacking supervision or the proper training of employees, can be a large source of retail fraud.
  • Sweethearting is used by cashiers to bypass scanners in an effort to pass items to customers without actually ringing them up in the cash register.
  • When a cashier "builds a bank," he or she voids particular transactions and pockets the money paid by the customer.
  • Refund fraud occurs when a cashier processes a refund for an item and puts the resulting change onto a giftcard for him- or herself.

For more details about these methods, read the original article.

 Retail Data Sheet

Topics: Blog

Posted by Pedro Ramos

Pedro Ramos is the VP of Sales at Agilence. He has 25 years of experience in Retail Operations & Loss Prevention and 10+ years in Technology Sales. Pedro is also involved in his hometown’s soccer program and other community organizations.

Recent Posts

Using Market Basket Analysis to Capitalize on Customer Purchasing Behavior

read more

Why Loss Prevention Leaders Must Become Analytics Evangelists

read more

How can Leaders Really Measure the Impact of Loss Prevention Efforts?

read more