In Australia, theft is the most prevalent form of shrinkage experienced by retailers and costs businesses billions of dollars every year. The Australian Retailers Association reports that theft accounts for between 1 and 3 per cent of gross profit, significantly impacting the net profitability of retailers.
If you own or manage a small to medium-sized retail store, you’re most likely working on slim margins, which makes this figure even more significant.
So, how do you combat theft and reduce the impact on your business’s profit margin? The most important initiative in reducing store theft is education and training.
Supporting Staff to Reduce Theft
Loss prevention is critical to the profitability and longevity of a business, and a store’s staff are on the front line when it comes to security.
Implementing store policy and procedure regarding security and loss prevention is the first step in protecting a retail store from theft.
The second step is to train staff so that they gain essential skills and knowledge to be able to maintain store security in a retail environment confidently.
You will also need to be familiar with the maintenance and use of store security equipment to ensure the safety and well-being of staff and customers.
In the event of theft, knowing how to detect and apprehend a thief as well as understanding the post apprehension procedures, according to State and Territory laws, is vital.
So, if you own a retail store or work in a management position in retail, consider online training for yourself and your staff via the Certificate of Retail Security and Loss Prevention with Australian Online Courses.
On completion of this retail certificate course, you will feel confident in managing the security and loss prevention for a retail store.
Professional Development in Retail
If you currently work in or aspire to join the Retail sector, there are many professional development retail courses to help you advance your career in this exciting industry.
When you study with Australian Online Courses, you have access to an eLearning platform that allows you to study where and when you choose. This self-paced learning environment will enable you to plan your study around work, life and family commitments.
So, what are you waiting for? If you’ve been considering gaining new skills in Retail, or want to add to your existing qualifications, check out the many professional development Retail courses today.
In this online retail certificate course, you will learn how to implement security and loss prevention policies and procedures to educate staff and protect a retail store from theft in this online retail certificate course. You will also learn about the best practice for detection and apprehension of thieves according to State and Territory laws.
In this online retail certificate course, you will gain the skills and knowledge required to work in the retail industry in this online retail certificate course. You will also learn how to work effectively in a service environment and develop and apply product knowledge. You will also gain the selling skills required to analyse and drive sales to meet targets and maximise retail profitability and performance.
In this online retail certificate course, you will discover the strategies, skills and knowledge required by retail buyers to purchase retail merchandise and develop buying plans.
You will also learn how to analyse the market, plan and introduce product ranges, establish supplier relationships, negotiate the supply of goods and maximise profit through effective buying strategies.
In this online retail certificate course, you will gain the skills and knowledge required to manage a retail business, multiple retail stores or departments using a range of business strategies to deliver profitable results. You will also increase your understanding and competencies in managing large numbers of staff and gain leadership skills to ensure your retail management success.