Return Fraud?
by Julie Weishaar
July 12, 2010
Return Fraud

Are you a retail small business owner? Are you trying to keep your customers happy by having a lenient return policy?

If so, you might be losing money because of those who take advantage of your customer service. According to Country Business, approximately 9% of returns are fraudulent (based on a study from King Rogers Group, a security consulting firm in Eden Prairie, Minnesota).

One of the ways this fraud is carried out is from people who steal your merchandise and then return it claiming they lost their receipt. Another example is when customers purchase an item on sale and then try to return it at the full price.

What can you as a small business owner do to protect yourself against this type of fraud and still maintain stellar customer service?

One thing to consider is hiring a loss prevention consultant. They can provide you with the right information and services to help reduce your loss of profits while continuing to maintain high customer service experiences.

According to Doug Rector, President of Northwest Loss Prevention Consultants, in recent years, many store owners were becoming very lenient about requiring a receipt for returns and viewed any financial losses due to return fraud as a normal part of doing business.

Doug says that store owners today are learning to become less lenient to protect their revenue base.

What are you doing to protect your retail business?

For more information on loss prevention, visit Northwest Loss Prevention Consultants.

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