To put this in perspective, imagine a supermarket chain with annual sales of $20 million. A 1.6% shrink rate leads to a loss of over $320,000! This directly impacts a retailer’s ability to invest in staff, improve the shopping experience, or even stay competitive.

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By combining these strategies, you gain greater control – regular counts and scanning provide precise data, while software ensures optimal stock levels.

Implement regular training to help staff identify suspicious behavior and handle situations effectively. Train them in recognizing shoplifting techniques, proper bag-checking, and de-escalation tactics.

With GoAudits, you can build your own checklists and categorize them based on location, department, tasks, etc. Your staff can access these checklists on their mobile or tablet devices.

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Modern video surveillance systems leverage video analytics to detect suspicious behavior. Facial recognition can prevent retail store theft by identifying known shoplifters, while heat mapping can pinpoint areas with high traffic and potential theft risks.

There are four main differences between stun guns and tasers: branding, range, reusability, and price. TASERs are branded projectile weapons, while stun guns are more affordable and require close-range contact with an attacker.

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By analyzing trends in shrinkage data, you can identify patterns and pinpoint products or locations most susceptible to theft.

Losses in the retail industry are a matter of concern as they have been worsening over time. According to the NRF’s 2023 National Retail Security Survey, shrinkage reached a staggering $112.1 billion in 2022 in the US. This translates into an annual shrink rate of 1.6%, or 0.2% higher than FY 2021.

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GoAudits gives us consistency in collecting data, setting up action plans, and driving their execution. Ultimately, we are much better equipped to improve results in our business operations.

Digital inspection apps like GoAudits allow you to create digital checklists for tasks like store opening/closing procedures, cash register audits, and security checks. Additionally, it can help you implement corrective actions to avoid violating business policies.

You can track past audit scores, reports, and team performance to assess the effectiveness of your retail security and loss prevention strategies. You can also monitor the status of the corrective actions without paying extra for the non-user assignee.

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It’s easy to get started with GoAudits! Sign up for a free 14-day trial (we even digitize your checklists for free!). Or even better: book a demo with one of our experts!

Most stun guns use a rechargeable battery and don't use projectiles. You can use them as long as the battery still has some juice.

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Based on trends, you can take targeted action, like adjusting security measures or staff training, to address specific challenges.

The projectile prongs on TASERs make them ubiquitous among law enforcement agencies with police TASER devices offering more range than consumer models—up to 35 feet.

Engaging customers can subtly deter theft and retail losses. Informative signage, strategically placed throughout the store, can educate customers about security measures without creating a tense atmosphere.

With GoAudits we save at least 20 hours a week across different users, especially writing action plans, as now everything is done in one place.

Equip your staff with accessible retail SOPs in the form of digital standard checklists. They provide a clear roadmap for daily operations, ensuring consistency and reducing the risk of human error.

On the other hand, a TASER uses projectile prongs that attach to a target further away—up to 15 feet. The two prongs spread out when a TASER gun fires, allowing them to land on different body parts. This helps the TASER send electricity across a larger area. Ironically, a TASER's shape is more like a traditional firearm than a generic stun gun is.

Loyalty programs reward honest customers, fostering a sense of community and investment in the store’s success. Well-designed and engaging displays allow for better product visibility, making it harder for shoplifters to conceal items.

Your budget is probably the biggest factor in buying a TASER or a stun gun, but both have strengths and weaknesses. Stun guns are more affordable and easier to reuse, while a TASER helps you keep your distance from violent attackers. Check out our review of the best stun guns to find the best fit for you and learn about stun gun laws.

It's easy to find reliable stun guns, like the Vipertek VTS-989, for less than $30, while most of TASER's consumer-grade models, like the TASER Pulse, cost $400 or more. TASERs are also more expensive to use—replacement cartridges cost about $20 to $23, depending on if you buy a 10-pack or a 2-pack. Likewise, replacement batteries cost between $10 and $25, depending on your model.

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Adding loss prevention audits to your existing program is simple. Pre-built audit templates and easy customization offered by customer support ensure a seamless fit with your current retail practices.

Employees are often the first line of defense against retail shrinkage. But, how can you empower them to actively participate in asset protection and loss prevention?

This blog dives deep into retail loss prevention: what it is, why it matters, and how you can implement effective strategies –  including digital audit tools – to safeguard your store and keep your profits healthy.

Effective merchandising techniques can prevent theft without sacrificing an inviting shopping experience, for example, keeping high-theft items within staff view. You can also use a merchandising checklist to strengthen retail asset protection for your stores.

Stun guns are close - proximity devices that require you to be next to the person attacking you. They use a painful shock to discourage further contact.

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Implement inventory management best practices to track stocks from procurement to sale. Here’s how you can fortify your inventory management:

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TASER—in all caps—is a brand from Axon that helped popularize using electric shock weapons for self-defense. TASER's early popularity meant many people started using it as a generic term, like how dumpster became the de facto term for large trash bins.

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Retail loss prevention (aka inventory loss prevention) refers to strategies applied to minimize shrinkage – the difference between inventory records and the actual stock. This discrepancy can happen due to various reasons, including:

GoAudits also offers real-time reporting and an analytics dashboard through which you can identify recurring issues like theft attempts and undertake merchandising efforts accordingly.

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Here are free digital retail store audit checklists that you can use to train your staff and enhance stock loss prevention in retail stores:

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While a TASER device is just as painful as a normal stun gun, it's more effective at incapacitating muscle functions so an attacker can't move.

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Stock loss prevention in retail is crucial as it directly impacts profits. Also, effective loss prevention strategies deter theft and create a safer working environment in retail for the staff and customers.

Working with GoAudits has been very easy. The Support Team has been helpful during the onboarding and overall responsive to any needs or inquiries. A pleasure to deal with!

In contrast, a stun gun is any electroshock weapon. This means that all TASER devices are stun guns—but not all stun guns are TASERs.

Regular store audits offer comprehensive reviews of inventory, sales data, and security protocols that highlight areas of vulnerability.

The projectile nature of a TASER renders its wires and propellant unusable after one or two shots, depending on the model. Swapping out the TASER cartridge is easy, but it gives you fewer options when deterring an attack, and spare cartridges are expensive.

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Retailers walk a tightrope – balancing customer experience with protecting their bottom lines. One major threat to profitability? Inventory loss, aka shrinkage.

A prime example is Lowe’s reporting shrinkage worth $997 million in fiscal 2022. That’s a significant chunk of potential profits disappearing!