Implicit Trust is the Frontier – it always has been!
What else is there? As we continue to explore and develop a new business case for the retail sector, we wonder what part trust plays in retail security. Some would suggest that the security sector itself is underpinned by some sort of dis-trust and that is an inevitable bi-product of being in that sector. The guilty until proven innocent syndrome!
But we wonder how that translates into being an effective supplier/provider of solutions to retailers in combating theft, loss, shrinkage. After all a successful retail environment and brand is one that is customer centric and is largely underpinned by trust. An environment in which products are openly displayed (or should be) and customers of all walks of life are encouraged, invited and therefore presumably trusted to visit.
Is it just a shift in thinking required
Don’t expect the retail environment to go unchanged. Post recession, post credit crisis and future retailing is and will be changed. That is inevitable! The last thing retailers want is for suppliers to be stuck in the past especially so when it comes to the delivery of products and services that are intended to reduce retail loss, theft and shrinkage. Suppliers simply cannot continue doing what they’ve done and expect a different result.
"The problems we have cannot be solved at the same level of thinking with which we created them".....Albert Einstein
But what is the problem?
Every conceivable type of theft, loss and shrinkage in the retail sector that is said to amass to upwards of $700,000,000 per annum. Up to $2,000,000 per day seasonally adjusted.
Is that really the problem ?
No its not, that is merely the result of the problem. The real problem stems from the fact that the amount of loss, shrinkage and theft is worsening.
It's not acceptable
We’ve seen retailers get really angry when they learn about a specific loss or theft from within their business, and rightly so. Up until that time, its just too easy to think this isn’t going to happen to me but its really more a case of when not if. Cementing that statement ‘its just not acceptable’ is often all it takes to make a stand as a retailer and rally the team together to take action.
Loss exists in your business !
There is no doubt that losses exist in every business! Its not an if, rather it's how much? From display theft, from burglary, from suppliers, deliveries, staff and even through shortcomings in your processes and systems. Its not whether it exists, its where and in what form - can I see it? Is it measurable?
It's a partnership
We believe that this forms part of the essential changed thinking! That combating theft in your business is a partnership. As a supplier, we believe its absolutely essential that this attitude prevails. Developing a structured approach that respects the unique aspects of your business. Assessing your environment, identifying the problems, providing options and solutions and measuring their ongoing effectiveness.
Solutions not products
If you have not bought a solution to theft, loss and shrinkage, its likely you’ve just bought another product. You’ve probably heard the story of the manufacturer of precision drill bits. They transformed their business with a simple shift in attitude. They stopped marketing precision drill bits and shifted to precision holes! Sure it was challenging, it caused a stir but it was successful and it made a difference. In fact they always sold precision holes but were busy, perhaps consumed with their product focus, drill bits.
There are similarities in the retail sector when it comes to reducing theft, loss and shrinkage. Perhaps it demands a shift in attitude. So many suppliers of security products and services are intent on making a sale when in fact they should be motivated to provide a solution. The retail sector is like a graveyard full of under performing security products and services with questionable return on investment.
Facing the truth
When it comes to being a supplier to the retail sector, developing solutions to combat losses in retail Leading Solutions are facing one important truth. That there is simply no point in repeating what others have done before us. Despite undeniable advances in technology, we understand that retail loss, theft, shrinkage continues to grow. Well there's hundreds of businesses supplying the retail sector with products and services intended to combat loss, theft and shrinkage. Likewise there's thousands of retailers buying those products and services. Is it working? Are these suppliers providing sustainable solutions that work? Surely its time to face the truth here and ask some hard questions.
Performance Audits
Back in 2008, we felt there was a need to assess the performance of one of our line alarm display/security products. We wanted to determine whether the retailer was in fact getting the maximum return on investment. In explaining our objective to the retail executive team, that retailer embraced our product performance audit. In fact the retailer helped build that particular one. Leading Solutions then assessed the security products performance at every location. Some good, some great, some just average. We then put a plan in place that required additional store level training for staff, store managers and regional managers. We determined that the product worked fine but it is the people side of our customers business where we focus much attention.
Education and Empowerment
Suppliers in this field must provide lasting value. Yes there is residual value in the products you buy from us. The EAS, CCTV, Line Alarms and so on. But the products are just a part of the solution that we provide. There are so many other factors to consider. Most importantly, your staff, your team will ultimately determine the success of these products. At Leading Solutions we are very intent on ensuring that the people in your business are better equipped to cope with theft. Yes we provide product training but beyond that we can empower your team by providing extra education about retail loss, theft and dealing with that.
Ongoing effectiveness
Move forward on the basis that your investment in security products, display products, loss prevention and education will fail over time. This might be due to staff changes, lack of maintenance, whatever. At Leading Solutions, we believe it is the suppliers responsibility to check and measure the ongoing effectiveness of your security.
But hey, we're the new kids on the block
Its true! We’ve been exploring these issues in the retail sector and learning for quite some time. Its not over yet, we’re very intent on building a new business case into the retail sector. Everything you read above is a reflection of where we’re heading. Rome wasn’t built in a day but we’ve got plenty of history, check it out in the about us section.
We’ve got a healthy track record across a variety of disciplines both here and Australia. And all underpinned by an international business reputation that’s now some 24 years in the making. We are well established in other markets but realise you might not have heard of us yet. Hey we’re not another Checkpoint or Sensormatic, we’re Leading Solutions, we’re privately owned, we’re kiwi and we’re proud!
Contact us or give us a call, we’d love to hear from you!
Become a member of the Leading Solutions community ....
Click here to see the benefits of becoming a member, to create an account or to login.
Products ....
Click here to review or download our product catalogue (you must be a member) or visit the product pages for full details.
Published articles ....
Click here to review topical and relevant published articles.
New kids on the block ....
It's true but we have been around for a long time in other sectors. Read all about us.
White Paper ....
Click here to download a white paper exploring the current position of retail theft and loss prevention and the transformational thinking required to provide real solutions.
Here resteth the aged and decayed EAS & CCTV that eventually met its demise through neglect and even in its younger years only worked some of the time!
Register for our email newsletter
