Related Content

Browse by Category

Browse by Date

Most Comments

Most Active

Recent Comments

Newest Posts

Shrink Management and the Impact on Truckstop Profitability

Posted in: Truckstop Business

SweetheartLoses.png

Ira Wexler/NATSO

Last month I spent a few days with Chris Sanders at London Auto Truck in London, Ky. We discussed shrink management and the impact on profitability. In August I will visit a member that has requested that I review and discuss shrink control management.

Given those recent conversations, I thought that this article by Andrew Wren posed in Chain Store Age under the Retail Executive Update really was timely. Take a read and enjoy! Some good solid information.

Sweethearting: A Bottom Line Drain for Retailers

"It’s no secret in the loss prevention industry that sweethearting, the practice of giving customers unauthorized discounts or free merchandise or services, is a major source of loss in retail. In fact, it has long been recognized as the most common type of employee theft and the largest contributor to loss in the industry. It is also a unique challenge to loss prevention efforts. Unlike other forms of employee theft, both the customer and the employee are aware of sweethearting.

There is very little historical data regarding sweethearting, which is surprising given that the problem is so pervasive and represents such significant loss. However, the most recent National Retail Security Survey, published in October 2011, provided statistics for the first time pertaining to theft via collusion between employees and customers. According to the survey, 96% of the 140 retail companies surveyed reported some incident of internal theft through collusion with someone who was not an employee of the company."

Be sure to check out the entire article here

Subscribe to Updates

About the Author

Darren Schulte

Darren Schulte

Darren Schulte serves as Vice President of Membership at NATSO. In this role, he directs recruitment, retention and customer service for truckstop and travel plaza members. He is also responsible for developing NATSO products and programs, particularly those relating to education, research and training for truckstop and travel plaza operators.

Schulte also leads NATSO's Profitable Retail Review program. A Profitable Retail Review is a custom assessment of your truckstop, including recommendations for every aspect of your facility, from actionable ideas to improve revenue to tactical ways to improve your net operating costs. Learn about NATSO's Profitable Retail Review program here.

Schulte joined NATSO with nearly three decades of experience in truckstop and travel plaza operations and merchandising. Schulte has worked for: 

  • Love's Travel Stops and Country Stores,
  • HESS Corporation, 
  • Petro Stopping Centers, and
  • TSC Global/Barjan LLC.