Running a business selling luxury products will typically net you a mix of recurring and new clientele. Clients who are looking for upscale items often prefer to find a place that offers luxury products typically enjoy sticking with the same company. If you have built up a name a retailer who offers authentic luxury goods, you will likely see recurring clientele. As the word spreads about your business, you will also have new customers who want to check out your store. Along with these two groups can come a group of those who have ill intentions for your company. Here a few ways that you should protect your luxury retail business against theft and deceit:
Put alarm tags on all of the items
If you sell luxury items, putting tags that will set off your store alarm if taken out is a good idea. When you have display items that are worth a lot of money, you will attract those with sticky fingers. Instead of attaching it to the item with a thumb tack, it is important to attach it to the item with a cord. A cord ensures that the item is appropriately tagged but does not harm the leather or the fabric of the luxury product.
Record all serial numbers
Business insurance against the loss or theft of products will be crucial when you are running a luxury company. You must have the luxury items in an insurance policy. In order to make sure you are able to recoup your investment on the items, you should have a record of the price and the serial number of the items. Many luxury purses and even some shoes will come with a serial number. Clothing items will have a specific type of stitching or will be sold with a companion pamphlet and other items to identify it as authentic. Be sure to take photographs of all items along with their serial numbers. This will make it easier to provide proof during an insurance claim and it will help identify a stolen item that may be recovered.
Take photos of all product
When you sell luxury products, it is common to get "borrowers". Borrowers are those who wish to wear a purse or a luxury item once or twice, then return the item for a refund. If you want to protect against those who are interested in borrowing and not buying, be sure to keep a record of all returns and examine the bag.
Contact a company like Austin Insurance Agency for more information and assistance.
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