How can you help prevent return losses?

Retail loss goes beyond shoppers taking items from the store without paying for them. Some people return items after using them and ask for a full refund. Retail loss may also be due to fraudsters who counterfeit receipts and return items for cash. How can you prevent that? ✓ Customize your receipts in a way that makes counterfeits more easily recognizable (e.g., Clerk's signature at the top.); ✓ Require a receipt for all returns; ✓ Strictly follow the company's return window —30 days is common; ✓ Confirm that the returned items exactly match those on the receipt; ✓ Require customers to provide personal information when initiating refunds; ✓ Issue refunds to the original payment method, not cash; ✓ Be on the lookout for fake receipts: • Look for watermarks (if your company does provide receipts watermarked); • Very smooth edges, receipt get easily battered even when carefully handled; • Compare to other receipts you have: size, shape, information, text, ink, etc; • Carefully check items listed, if you sell them and if the prices match the store’s; Working alongside your managers and co-workers will help ensure procedures are respected, and frauds are recognized and properly dealt with.

Reference: 4 Techniques for Retail Loss Prevention - By Chloe Henderson Photo by Michael Walter on Unsplash