Cash Handling
Combating retail shrinkage
Sesami cash management solutions help combat retail shrinkage by protecting your inventory and money from theft.
Retail shrinkage: what is the cause?
Retail shrinkage is a major issue affecting businesses of every size. U.S. retailers face shrinkage of approximately $60 billion dollars each year according to Forbes.com.1 Typically, employee theft is the main cause of retail shrinkage, likely due to the ease of taking merchandise from the stockroom. Recently, employee theft has attributed to 43% of lost revenue for retailers, and The US Chamber of Commerce has indicated that 75% of employees have stolen at least once.2 In addition, the number of employees apprehended for shoplifting increased almost 10% between 2015 and 2016.3 To understand the significance of this problem, it is important to realize that retail shrinkage accounts for about 1.38% of overall retail sale.4 However, shoplifters are only caught an average of 1 in 48 times they steal.5
Sesami systems help retail stores secure their cash balances and reduce overall cash exposure in the store. In addition, Sesami cash management systems provide automated reporting that enables faster reconciliations and accelerated deposit preparation. This level of automation and security offers store managers peace of mind and, more importantly, more time for them to monitor the sales floor, train employees, and perform other more productive activities, such as those that contribute to a reduction in store shrink.
Installing Sesami systems not only helps employees feel safer in the store, but payroll hours can be optimized and store operations simplified as managers can spend less time handling cash. Sesami has become an integral partner for businesses looking to protect themselves against theft and retail shrinkage. To learn more about how a Sesami smart safe can help prevent retail shrinkage in your store, check out the infographic and click here to learn more.
[2] https://www.inc.com/articles/1999/05/13731.html
[3] http://fortune.com/2015/01/26/us-retail-worker-theft/
[5] https://cybra.com/5-loss-prevention-stats-retailers-should-know/
Sesami Solution Experts
The team at Sesami.io consists of innovative and skilled professionals with deep expertise in industry trends and technical knowledge. They have a proven track record of guiding businesses through numerous technology cycles, especially in the retail and financial sectors. Their work involves creating cutting-edge solutions that set new standards for how companies leverage digital technology. Renowned for their analytical skills and strategic insights, the team has led numerous transformative projects, positioning themselves as key influencers in the technology field. Their unwavering commitment to excellence and their drive to expand the possibilities of technology makes them trusted partners in managing the complexities of today's digital world.