RETAIL INDUSTRY

POLICY DOCUMENT

Managing
Retail
Shrinkage

March 2008
 TABLE OF CONTENTS

Page 3 Introduction

Page 4 Shoplifting

Page 7 Internal Shrinkage

Page 13 Administrative & Supplier Shrinkage

Page 14 Summary

Page 15 Best Practice Procedures

Page 17 Resource Material

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Although every effort has been made to ensure the accuracy of the material contained in this document, complete
accuracy cannot be guaranteed. Neither Retail Excellence Ireland nor the author(s) accept any responsibility whatsoever
for loss or damage occasioned or claimed to have been occasioned, in part or in full, as a consequence of any person
acting or refraining from acting, as a result of a matter contained in this document.

COPYRIGHT:

It is an offence to distribute this report to third party organisations or individuals, without the express agreement of
Retail Excellence Ireland.

Retail Excellence Ireland 2

 Introduction

In financial accounting, the term inventory shrinkage is the loss of products between point of manufacture or purchase from supplier and
point of sale. Retail Excellence Ireland estimates that between 2% and 4% of turnover is lost through shrinkage each year.

The latest figures from the Global Retail Theft Barometer 2007 show that 42% of shrinkage was due to shoplifting and just over 35% was
caused by dishonest employees, internal error and administrative failure (e.g. pricing or accounting mistakes) was 16.5%, and supplier or
vendor theft and fraud was 6.3% of shrinkage. When dealing with perishable goods, natural spoilage also contributes to the shrinkage
figure.

Source of Shrinkage % of Loss

Shoplifting 42.0%
Employee Theft 35.2%
Administrative Error 16.5%
Vendor Fraud 6.3%

The table below shows the average shrinkage rates and the consequent loss of profits for a range of retail sectors. The figures are likely
to the lower for larger businesses and higher for smaller retailers.

Average
Shrinkage as
Shrinkage as
. proportion of
proportion of
profit (%)
sales (%)
CTN's/book shops 1.91 28.75
Clothing and fashion 1.91 27.55
DIY, hardware and car products 1.86 25.70
Department Stores 1.70 17.80
Electrical goods 1.63 13.33
Footwear and Sports goods 1.12 11.70
Furniture and textiles 0.75 12.90
Grocers and supermarkets 0.83 25.00
Jewellers 1.53 18.20
Pharmacy and drugstores 2.54 15.50
Specialist food etc. 1.24 21.90
Toys, video and music 2.14 21.20
Overall % 1.62 17.78
(http://www.cctv-information.co.uk)

Increasingly, retailers are realising the opportunity they have to turn their shrinkage reduction efforts into a competitive advantage
initiative. Retailers that are employing the right technologies and that are determined to address the challenge in a consistent manner are
enjoying a real competitive profit advantage that translates into lower prices, more help in stores, cleaner stores, and better customer
satisfaction.

Based on data available from security providers and from liaising with retailers, this document outlines the greatest contributors to
shrinkage and more importantly the solutions. Everyone has a role to play in minimising retail store shrinkage and this policy document
clearly outlines the key responsibilities.

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 Shoplifting

Shoplifting is one of the most common crimes. Anyone can be a shoplifter, and this is an important fact for store managers to understand.
Those who focus on stereotypes such as race and age generally have a difficult time detecting shoplifting.

Retailers need to focus more on prevention of theft rather than the apprehension of shoplifting suspects. The following key areas should be
considered when addressing shoplifting issues in your store.

STORE LAYOUT Shoplifters require privacy in order to conceal merchandise. This is especially true with small specialty shops
where the arrangement of the fixtures creates many areas for the shoplifter to be hidden from sight. Determine
where your staff spend the majority of their time. For many small stores this is near the till area. For others, it
might be near the phone, or the office. Arrange your fixtures with the goal of minimising "blind spots" on the
sales floor. From their usual vantage point, your staff should be able to look down almost every aisle.

Procedure
1. Determine where staff spend most of their time.
2. Arrange fixtures to minimise blind spots.

CLOTHING HANGERS In the fashion sector, one way shoplifters can steal a tremendous amount of clothing is to quickly grab as much
clothing from a display as they can carry, and run out of the store into a waiting car, before your staff can react.
An effective way to thwart this is to alternate the direction of each hanger on the display, especially on those
near the store exit. This makes it impossible to take an entire armful of clothing off of a display. Make it part of
the opening or closing duties to have a staff member "Set the Hangers".

Procedure
1. Set the hangers at the end of the day.

PRODUCT RETURNS Many shoplifters steal with the express intent of returning the merchandise to the store, the same or another
branch, for a cash refund. This can be addressed by requiring a purchase receipt for all returns. This creates
some conflict, however, with the interest in delivering quality customer service. A compromise policy is to require
a receipt for cash refunds and general store credits, and to allow same-item-only exchanges without one. This
way, the legitimate customer with a defective product, or with the wrong size or colour, is accommodated, but the
shoplifter is not.

Procedure
1. Receipts are required for cash returns.
2. Without a receipt same item only exchanges are allowed.
3. Customers must sign for all product returns giving their contact details.
4. Staff members must sign for all product returns.

DISPLAY CABINETS As a general rule, the smaller and more valuable an item is, the more attractive it is to a shoplifter; particularly to
those who steal with intent to either sell the merchandise themselves, or return it for a refund. Keep small,
expensive items behind the counter or locked in a display case. If the display case has a lock, lock it; do not
assume that the case alone will deter a shoplifter. Legitimate customers will understand this as a necessary evil
and won't object; shoplifters will go elsewhere.

Procedure
1. All display cabinets must be kept locked.
2. The keys should be stored in a secure place.

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EAS TAGS Electronic Article Surveillance (EAS) is a system in which merchandise has a small "tag" affixed to it which is
either removed or deactivated when the item is purchased. If not removed or deactivated, it triggers an alarm as
it passes sensors near the store exit. EAS systems are expensive, but fairly effective. If you have one in place,
affix your alarm tags carefully. Hide the tags beneath seams and labels, or on an internal page of books and
magazines. If you can't hide the tag, try to make it less noticeable by aligning it with physical aspects of, or the
graphic design on the packaging. Consider placing two tags on the merchandise: one obvious, and one not so
obvious. The shoplifter may remove the obvious tag and not notice the other one, thus setting off the alarm.
Even if you don't have an EAS system, consider buying some tags anyway.

Procedure
1. EAS tags must be placed on all merchandise.
2. Two tags should be affixed to highly desirable products.

CHANGING ROOMS A changing room is an ideal place to conceal merchandise: if shoplifters can get merchandise into the fitting
room, they have complete privacy, and even a mirror to gauge how well the merchandise is concealed. A
favourite shoplifting method is to place several items of clothing on a single hanger. This relies upon the
inattentive staff member counting the number of hangers, not the number of clothing items or worse, barely lifting
their eyes as they ask "How many?" Shoplifters then enter the changing room and conceal the extra
merchandise brought in on the single hanger. It is also important to make sure your changing rooms do not have
anyplace to discard labels and price tags.

Procedure
1. Customers should not enter or exit the changing rooms without encountering a staff member.
2. A staff member should greet the customer at the changing room entrance and count the number of items,
not the number of hangers.
3. The customer must be issued with a numbered disc.
4. On exiting the changing room, the customers’ items must be counted and cross checked with the disc.
5. The changing rooms must be kept clear of merchandise, hangers and rubbish.

PROSECUTE Call the police on every shoplifter caught. In the shoplifters' minds, if you don't call the police, they win, and they
will continue to hit your store over and over. Do not release juvenile shoplifters to their parents; prosecute them.
If the case goes to court, be there as well. Be seen as a retailer who prosecutes and this will act as a deterrent.

Procedure
1. Call the police on every shoplifter caught.
2. Prosecute all offenders.
3. Go to court when the case is being heard.

CUSTOMER SERVICE Exceptional customer service is the single most effective thing you can do to deter shoplifting. By knowing where
your customers are, offering your assistance, and anticipating their needs, you will virtually eliminate shoplifting.
An alert staff member is your most effective weapon against shoplifters who thrive on anonymity. A shoplifter,
who is being proactively offered assistance by a staff member, can’t shoplift.

Procedure
1. Eye contact should be made and all customers should be greeted when they enter the store.
2. All customers should be proactively offered assistance.
3. Staff should be aware of every customer in their department. Remember anyone can be a shoplifter.
4. Customers should be offered an exit greeting when leaving the store.

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SHOPLIFTING – PROCEDURES SUMMARY

Ensure your store layout allows staff to have a clear view of all areas.

Set the hangers to thwart clothing grabs.

Have a tight product return policy.

Keep high value display cabinets locked and the key in a secure place.

Fix two security tags on desirable merchandise.

Attentive staff members should be positioned at the changing rooms.

Prosecute all shoplifters and be seen to do so.

Offer exceptional customer service.

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 Internal Shrinkage

Internal shrinkage is the theft or taking of property or funds entrusted to an employee by an employer.

More often than not, it is very difficult for a manger to accept the possibility that employees he/she hired, trusts and works beside are
capable of engaging in such disloyal and dishonest activity. Consequently, it is easy to understand how management embraces
misconceptions about the problem. Some of the misconceptions about employee theft include:

Most theft is caused by non-employees.

Well-paid and/or senior employees are trustworthy/loyal and don’t steal.

Honest employees can be counted on to report employee theft.

Employee theft is conspicuous and can be detected in its early stages.

You don’t need to formally inform employees that theft will not be tolerated.

Until management gains an accurate understanding about employee theft and initiates sound loss prevention measures, it will remain a
major drain on profits, productivity and employee morale.

To rid the organisation of employee theft, a change of culture is required. Change the culture and environment in your store and employee
theft will be eliminated. Transforming the shrinkage control culture, requires changes in three main areas; Personnel, Operations and
Technology.

PERSONNEL

All staff must be clear on the store’s zero tolerance in relation to shrinkage. From initial staff recruitment and on-going staff training,
shrinkage control education should be central to all activity.

NEW STAFF One of the most basic steps in preventing employee fraud is not to hire employees who have stolen previously.
Before hiring anyone, you should conduct a background check to find out as much as you can about the
employee's previous experience. Even though most employers will only verify position and dates of employment,
you can usually tell by their tone of voice what they think of the employee. Also, ask the previous employers
whether the applicant is eligible for rehire. The choice of store and security personnel will also strongly affect the
ability of shoplifters to succeed. All personnel must be trained in the techniques shoplifters use to steal
merchandise and the proper actions to take.

Procedure
1. Background check all new staff members.
2. Train all new staff members on the store’s Shrinkage Procedures.

EDUCATE STAFF Be open and honest with staff as to the impact employee theft has on them and how they, not just management,
are the key to solving the problem. Many internal shrinkers feel that it is ok to steal as long as the store is making
money. Make it clear that sales, service and shrinkage are all related. It is often very beneficial to set shrinkage
targets and to reward improvements with prizes, bonuses, awards etc.

Procedure
1. Make staff aware of the relationship between sales, service and shrinkage.
2. Make shrinkage control part of staff members’ on-going training.
3. Set shrinkage reduction targets.
4. Reward reductions in shrinkage levels.

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MANDATORY HOLIDAYS Many internal frauds require manual intervention, and are therefore discovered when the shrinker is on annual
leave. The enforcement of mandatory holidays will aid in the prevention of some frauds. Some frauds are
detected during sickness or unexpected absences of the shrinker, because they require continuous, manual
intervention. For this reason, it is often a good idea to rotate jobs in the store.

Procedure
1. All staff must take a minimum of 9 days consecutive leave every year.
2. Staff day to day duties will be rotated.

STORE MANAGERS Often store managers are embarrassed by internal theft. Clear shrinkage procedures will help to take the
‘personal’ element out of the equation. It is imperative that shrinkage procedures are carried out thoroughly and
consistently. Nothing sends a clearer message that the sight of a store manager going through all of the checks
and taking action on non-compliance. Make dramatic and obvious steps to demonstrate your commitment to
eliminating theft. Managers should call into the store on their day off for a quick inventory review or to reconcile
the register.

Procedure
1. All shrinkage procedures will be adhered to and spot-checked.
2. Staff non-compliance will be acted on.
3. Store Managers will reconcile the register on a regular basis.

OPERATIONS

Employees who perceive that they will be caught engaging in fraud are less likely to commit it. Make shrinkage reduction part of the store
operations. Shrinkage control should be part of each staff members work plan. From the back door and stock-taking, through to
merchandising, customer service and transaction management, shrinkage control should be paramount.

SECURITY AUDIT It is imperative to make security and shrinkage control part of the norm in the store. Conduct an audit of your
store on a yearly basis. Identify possible existing theft and potential opportunities or risks to potential theft.
Immediately develop a plan to eliminate or reduce your exposure to these risks and make staff aware of their
roles.

Procedure
1. Conduct a security audit on a yearly basis.
2. Make staff aware of the store’s commitment to shrinkage reduction.
3. Ensure that staff realise that they are responsible for shrinkage control.

UNANNOUNCED AUDITS All too many shrinkers know when auditors are coming, and therefore have time to alter, destroy, or misplace
records and other evidence. A proactive fraud policy involves using the technique of surprise audits as much as
possible. It might have a significant deterrent effect.

Procedure
1. Area Managers will conduct surprise audits on a quarterly basis.

BACK DOOR The biggest threat to stockrooms is collusion between two dishonest people – one inside the stockroom who is
employed by you, and another person outside. Your stockroom is vulnerable in different ways at each step of the
handling of merchandise. It is vital to have controls in place.

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 Procedure
1. Deliveries should be checked off against the documentation.
2. The delivery docket should be legibly signed by one staff member.
3. A second staff member should be responsible for putting the merchandise on the system.
4. On a random basis these documents should be spot-checked by the store manager. It is important to make
sure that the figures tally both horizontally and vertically.
5. Merchandise should be put away into its proper place in the stock room.
6. The stock room should be kept tidy and clutter-free.
7. All areas should be clearly signed, with a place for each item.
8. Desirable goods should be stored on the upper levels of storage racks.
9. A cage should be placed around high-risk products.
10. One door only should be used for entering and leaving the stockroom.
11. No unauthorised staff should be in the stockroom.

WASTE Merchandise often leaves the store along with waste. From a shrinkage point of view it is vital that this exit
opportunity is strictly controlled.

Procedure
1. All bins should be locked.
2. One trained staff member should be responsible for waste disposal.
3. Management should inspect rubbish on a regular basis.

STOCK TAKING Frequent stock takes let your staff and others know that you keep tight control over what passes through the
store. This makes them think twice about stealing from you because they realise that there is a greater chance of
getting caught. In addition to stock takes, the store inventory adjustment report should be looked at everyday.

Procedure
1. Stock takes should be carried out on a regular basis.
2. More frequent stock takes should be carried out for high value items.
3. The store inventory adjustment report should be monitored everyday.

MERCHANDISING As with the stockroom, keeping the shop floor uncluttered and tidy, gives shrinkers less of an opportunity to hide
merchandise for removal at a later time.

Procedure
1. Merchandise should be in its proper place.
2. The aisles should be kept tidy and clutter-free.

TILL AREA Personal belongings should not be allowed on the shop floor or at the till area. It is also imperative that the till
areas are kept clutter-free, as well as improving the customer experience, it makes employee theft more difficult.
Shrinkers often use loose change, bits of paper, match sticks etc to help them remember the amount of extra
money in the till that is to be pocketed later. Make sure customers can see the amount rung up on the cash
register. If the display is turned away from their view or is covered, this could mean the staff member is under-
ringing purchases in order to pocket the money later.

Procedure
1. Personal belongings are not allowed on the shop floor or at the till area.
2. The till areas must be kept clutter-free.
3. The till display must be facing the customer.

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TRANSACTIONS Clear transaction management procedures are required to minimise shrinkage.

Procedures
1. Till operators must sign or and off the till.
2. Only one till operator uses a cash drawer during a shift.
3. Receipts must be issued for every transaction.
4. Voids and no sales require the store manager’s authorisation.
5. Refunds and exchanges must be signed for by the till operator and the customer.
6. Staff purchases must be recorded.
7. Staff cannot process their own purchases.
8. Staff cannot serve friends or family members.
9. The cash and the Z reading should be reconciled at the end of the shift.
10. The cash up total required two signatures.

TILL CHECKS Require store managers to review register transactions every day - look for excessive openings of the drawer,
small cash refunds, returns, voided/cancelled/deleted sales etc. Store managers should do till checks and till roll
reviews daily. They should also look at shift and daily sales trends. Make sure your employees can see the store
manager reviewing this information. Don't hide in the back room because just by letting them watch you can
reduce more theft than anything. In addition to store manager checks, area managers should spot check the tills,
safes, back room registers and sales trends.

Procedure
1. Store managers must review the register transactions each day.
2. The voided/cancelled/deleted sales report should be reviewed at the end of the day.
3. The returned transactions report should be monitored on a daily basis.
4. Area managers will spot check the till and sales reports.

INTEGRITY SHOPS A common example of an integrity shop is marking a large-denomination note and placing it in a cashier's
drawer. The goal is to see if the note disappears from the drawer or doesn't reach its appropriate destination,
such as a cash office. The information gained from an integrity shop can be used to initiate investigations or
conduct interviews that could possibly reveal dishonest activity or outright theft. This is also a good way to find
out if an employee is attempting to embezzle.

Procedure
1. Marked notes are placed in tills on a regular basis.

MYSTERY SHOPS A useful tool to independently check that procedures are being followed and that the opportunity for shrinkage is
being minimised is to use mystery shopping.

Procedure
1. Test purchases are made in the store.
2. The mystery shop report should be disseminated to staff.

STAFF CHECKS However much you trust your staff, it is a good idea to do staff searches and bag checks on a regular basis,
especially if you have a high turnover of staff. All staff should be made aware of the store policy to check all staff
bags and pockets at the end of each shift and this should be carried out systematically.

Procedure
1. Staff searches are carried out at the end of each shift.

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 TECHNOLOGY

Stores that utilise security technologies generally have lower overall inventory shrinkage than those retailers who do not. Technology also
allows employees to focus more time on assisting customers and less on patrolling the aisles.

Advances in technology means that there is a wealth of information available to you, however this information alone will not eliminate retail
theft unless it is monitored regularly.

CCTV Strategically placed CCTV cameras do much to minimise retail store shrinkage. But to make a real impact on
shrinkage, the recordings must be monitored and acted on. Make sure your staff know you religiously review the
recordings. If you've ever been robbed blind and don't know who did it, then try NOT to let your employees find
out about it.

Procedures
1. CCTV cameras are placed in key areas identified in the security audit.
2. CCTV recordings are reviewed on a regular basis.

INTEGRATED TECHNOLOGY Statistics indicate that most of the cashier-caused shrinkage is attributed to dishonesty and sweet-hearting. The
integration of video and POS data can greatly reduce this shrinkage.

Procedures
1. Integrate your POS data and video surveillance.
2. Monitor the results.

DATA MINING Point-of-sale data mining software solutions that detect potential theft problems at the cash register also help
combat retail store shrinkage. The software allows the auditor to quickly filter out transactions by a sophisticated
set of predetermined criteria. Hence suspect transactions can be easily and effectively filtered out, i.e.
transactions that contain certain elements known to contribute to transaction processing shrinkage.

Procedures
1. Install data mining software.
2. Monitor transactions that raise red flags.

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EMPLOYEE THEFT – PROCEDURES SUMMARY

Reference check new staff members.

Educate staff on shrinkage control.

Enforce mandatory holidays.

Make store managers responsible.

Conduct security audits.

Conduct unannounced audits.

Enforce strict back door controls.

Implement strict waste management controls.

Conduct regular, systematic stock takes.

Maintain a tidy store.

Keep the till area clutter-free.

Set clear transaction management procedures.

Conduct till checks.

Use integrity shops.

Use mystery shops.

Carry out staff checks.

Employ CCTV, Integrated Technology and Data Mining technologies.

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 Administrative & Supplier Shrinkage

The remainder of the annual retail losses not due to employee theft and shoplifting are caused by paperwork errors and theft by vendors.
Their impact on a stores productivity can be significant. Detection of this type of fraud is made more difficult due to the fact that the
shrinkers involved need to have access to important documents like accounts, invoices, bank details and customer details.

ADMINISTRATIVE SHRINKAGE
On the issue of administrative shrinkage, some of this loss can be unintentional. Pricing errors and inadequately designed POS systems
can contribute to shrinkage. A methodical approach to pricing and data entry will help minimise these losses. The latest technology allows
issues like ‘price integrity’, transaction errors caused by unclear bar codes, ‘scan gaps’ (i.e. the time between items are being scanned),
manually keyed items and prices, etc to be monitored. Another factor contributing to administrative shrinkage is the non-collection of
supplier credits.

Procedures
1. One staff member must be made responsible for new product and price entry.
2. Spot checks should be carried out to ensure compliance.
3. Non-scans should be return to the office at the end of each shift.
4. Supplier credits and refunds should be the responsibility of one staff member and managed on a monthly
basis.

To mitigate against intentional administrative shrinkage strict controls and procedures should be in place. Developing audits that focus on
high-risk areas for fraud is something that many organisations have found to be effective in their anti-fraud program. Not only is fraud
identified, but fraud decreases in subsequent audits. Some of the areas that are good areas for fraud audits are:

Expense reports

Payroll

Purchasing

Sales

Accounts receivable

Customer complaints

Cash

Suspense accounts

SUPPLIER SHRINKAGE
Deliverymen have many opportunities to steal -- they have access to invoices, they deal directly with merchandise, and they know the
weaknesses of managers and other staff working in the stores on their routes.

Preventing fraud and theft by delivery people involves setting up systems to control their access to parts of your business, as well as what
they bring in and take out. The first step is to recognise that many delivery people and vendors will try to steal from you. It is dangerous to
trust them to be honest all the time.

Procedures
1. One staff member should be responsible for fully checking deliveries.
2. This staff members records should be spot checked.
3. Set specific times of the day, or specific days of the week for deliveries.
4. Ensure that too many deliveries are not being made at the same time and that they are not being made
during busy store times.
5. Deliveries should be made into the storage area, not by the truck or onto the shop floor.

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 Summary

To effectively tackle shrinkage, a change of culture is required. Shrinkage control needs to become part of the day to day store operations
and all members of staff need to take on the responsibility of minimising losses.

In summary the keys to successfully combating shrinkage are:

1. Accurately measuring shrinkage; in order to reduce shrinkage you have to be able to see it. Measure your shrinkage at full retail
value, not only cost.
2. Monitor and audit your progress in reducing shrinkage.
3. Make sure that your senior management is committed to the operating practices required to reduce shrinkage.
4. Use new technologies to help control losses.
5. Consistently train staff on shrinkage control.

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 Best Practice Procedures on Retail Store Shrinkage *

At [ Store Name ] it is our policy to minimise shrinkage. Shrinkage has an effect on all of us. Reduced profits translate to reduced bonuses.
Shrinkage from the store is shrinkage from our pay-packet. We all have a role to play in managing losses and key responsibilities are
outlined below.

OWNER RESPONSIBILITIES

Conduct an annual security audit.

Calculate your level of shrinkage.

Set shrinkage targets.

Employ the latest security technology.

AREA MANAGER RESPONSIBILITIES

Ensure that the store layout minimises blind spots.

Background check all new staff.

Educate staff on shrinkage control

Conduct surprise audits.

Conduct integrity shops.

Organise mystery shops.

Spot check admin staff records.

STORE MANAGER RESPONSIBILITIES

Prosecute all shoplifters.

Rotate jobs in the store.

Enforce mandatory holidays.

Spot check to ensure back door procedures are being followed.

Spot check the rubbish.

Conduct regular stock takes.

Monitor the store inventory adjustment report.

Conduct till checks.

Carry out staff checks.

Monitor the CCTV, Integrated Technology and Data Mining reports.

Spot check delivery personnel and their documentation.

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STAFF MEMBER RESPONSIBILITIES

Set the hangers.

Adhere to the strict returns policy.

Keep display cabinets locked and the keys in a secure place.

Affix EAS tags to all merchandise.

Monitor the changing rooms.

Interact with all customers.

Adhere to the strict back door procedures.

Keep the shop floor clutter-free.

Maintain the till area as per the procedures.

Adhere to the transaction management procedures.

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 Resource Material

Global Retail Theft Barometer 2007; Bramfield, J., Nottingham: Centre for Retail Research
http://www.cctv-information.co.uk
http://www.extendedretail.com
How to Identify Dishonesty Within Your Business; Case, J.
How to Prevent Employee Theft; Wells, J.T
Five Tips for Reducing Retail Theft; Albert, M.G.
http://crimeprevention.rutgers.edu
http://retailindustry.about.com
BRC Retail Crime Survey 2006-07

* These procedures are available on the Retail Excellence Ireland website (www.retailexcellence.ie). The document can be downloaded
and tailored to suit your retail business.

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