Loss Prevention

Retail crime and petty theft has been on the rise for some time now. It is easy to blame inflation as the cause, yet Retail NZ suggest people are not dabbling in crime to put food on the table but are stealing (sometimes to order) and then selling the goods to make a profit, as there is a growing resale market.

Over the past four years, the crime rate in New Zealand has been rising. The statistics below from Retail NZ show that crime rose steeply in the years 2021 to 2022 due to the increasing resale market.

“Police data shows shoplifting crimes (robbery, burglary, and theft) increased to a new high last year, with police receiving 241,638 reports.

That was up by almost 41,000 compared with the 2021 total of 208,445.

In 2020, police received 186,142 reports of robbery, burglary, and theft.”

Hoed Research in conjunction with customers has developed an audit program designed to ‘minimise’ or reduce in-store losses. The program will not curtail losses entirely; however, it has proven to reduce losses which can be worth many hundreds of thousands in lost revenue.

The Hoed Research Loss Prevention audit checks for personnel placement (instore), staff awareness, staff training and understanding, check out testing (double stacking of product, potentially concealing other product, etc), exit and entrance ways. We have found with a Loss Prevention program in place, all staff become more vigilant thus positively impacting awareness and a reduction in store theft.    

We’re here to help. Hoed Research has been providing Loss Prevention Audits as a service for many years and has gained extensive experience working with different businesses.

We work directly with you to establish and start a Loss Prevention audit beginning with a simple online Teams meeting, followed by a physical meeting to better understand your store environment. An indicative cost proposal is submitted for your consideration before progressing any further. Get in touch today with the team at Hoed Research who will be happy to assist you.