Retail businesses are a critical component of the economy – they provide easy access to a wide range of consumer goods. However, they’re uniquely vulnerable to theft, which translates into profit loss: a Retail Industry Leaders Association report found that retail crime accounted for over $125 billion in lost economic activity in just one year.…
Exception-based reporting (EBR) is useful for retail and quick service restaurant (QSR) businesses. Effective EBR tools can support loss prevention teams and improve profit margins. In an industry where loss prevention can significantly affect your bottom line and reduce losses, EBR is critical. A study from the National Retail Federation found that inventory shrinkage alone…
Convenience stores are a vital part of the economy, providing quick snacks, beverages, and other essentials. It’s estimated that about 100 million Americans shop at convenience stores each day. But convenience stores can be particularly vulnerable to fraud and theft, which is why having a convenience store loss prevention plan in place is crucial. Learn…
Theoretically, it’s easy to spot the difference between an engaged and a disengaged employee. You can look at their quality of work, willingness to collaborate, and overall behavior in the workplace. But employee engagement can be difficult to quantify and measure – and disengaged employees are more likely to quit. Because employee engagement is directly…
Small businesses and food service establishments need to be able to accept cash in addition to credit card and smartphone payments. But when business is booming, it’s easy for small mistakes to turn into big accounting headaches. Employees must be aware of cash handling best practices to ensure it is handled correctly. Cash is popular,…
What store wouldn’t want more loyal customers? A proven tactic for driving loyalty is a well-designed and well-executed customer loyalty program. From retaining existing customers to attracting and converting new customers to loyal ones, a rewards/loyalty program is an easy way to ensure your customers continue to visit your locations. But business owners and managers know…
The 4 Benefits of a Multi-Lane Drive-Thru There’s no doubt that the pandemic has driven more traffic to drive-thrus (no pun intended) — this translates into a roughly 43% increase in drive-thru use since April 2020. This increase in use has restaurants investing in multi-lane drive-thrus to deal with increased traffic. And the great news…
Loss prevention (aka. asset protection) initiatives are often reactive — identifying incidents when or after they occur. This “whack-a-mole” approach is most often taken by under-supported departments who believe that apprehension results will substantiate their existence and funding.
Internal theft is stealing money, property, or time committed by an employee, which can be quite costly. According to a report from the National Retail Federation, the average dollar loss per dishonest employee case was over $1,500. A Real Example of Internal Theft One particular Subway store was able to verify an employee pocketing money…
Vitality As the definition suggests it is ‘to be strong and active’ or ‘to have the capacity for survival’… and vitality during a pandemic, for restaurants and retailers, means assuring your customers that your goal is to help keep them strong and active, and able to survive right now. Owners and operators across the world…
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DTiQ Announces NEW Drive-Thru Solution Offering with Summit Innovations 