As retailers begin to re-open stores during the COVID-19 pandemic, every aspect of brick-and-mortar retail will need to be re-examined. By knowing what to expect, you can jump into #RetailRecovery assured that your stores, and profits, are protected.
EXPECTATION: Shoplifting and other external theft will increase.
- Pent up bad actor demand, other fraud revenue streams reduced during quarantine.
- New negative behavior, desperate unemployed consumers.
- Shoplifted items will often be immediately returned to convert merchandise to cash or store credit.
- Friendly Fraud – false claims of missing delivery orders.
Shoplifting monetization at the return desk needs to be prevented.
- Inability for bad actors to obtain refunds will deter shoplifting from your organization.
Return requirements to stop shoplifting may impact good consumers. And other external loss factors will also arise:
- Organized retail crime growth.
- Increase in fraudulent receipts.
- Increase in first-time return fraud.
- Increased employee collusion.
HOW CAN I GENERATE REVENUE?
Reducing external theft will:
- Improve merchandise availability for good sales.
- Deliver better customer service to good returners.
- Decrease the in-store presence of bad actors.
- Increased on-hand accuracy for in-store fulfillments.
WHAT CAN I CHANGE?
- Detect and deter return fraud and abuse.
- Manage non-receipted returns and time frames.
- Identify and track employee collusion.
- Mitigate return and ORC risks.
- Find patterns in delivery claims.
WHO CAN HELP?
When you re-open, partnerships matter.
- Vendors have a broader view of the marketplace—ask for insights.
- Plan your next moves with financially strong partners, like Appriss, who have previously managed downturns.
- Look for partners with the stability of a large, diverse client base.
- We’re here to help if you want to talk about external loss.