COSTCO shoppers might have noticed that every time they leave the store, employees check customers’ receipts and it’s for one particular reason.
As retail theft continues to run rampant across the country, many major retailers have implemented security measures such as receipt and bag checks to curb shoplifting.
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However, unlike many of these other stores, Costco has a low shrinkage rate – which is the inventory of items that are lost due to theft, damage and more.
Social media influencer and finance creator Milan Singh revealed in a recent TikTok video that the wholesale giant’s shrinkage rate is only at 0.11%.
Because its theft losses are so low, some customers may be confused why Costco continues to implement such high security measures.
Singh said that as the receipt checks are mainly to check customers paid for all the items in their carts, Costco employees are reportedly looking for one important thing.
The finance guru explained that Costco is looking to verify two codes on each receipt: one at the top and one at the bottom.
This is to confirm that the receipt was printed the same day.
He also revealed that Costco is looking to check the item count as well as a supervisor’s signature at the bottom of the receipt for purchases of larger expensive items.
“By doing so, Costco can maintain an accurate inventory and prevent losses,” Singh said.
Dozens of TikTok users flooded the finance creator’s comment section, agreeing that the receipt checks are part of the reason Costco has kept its shrinkage rates so low.
Some even revealed they were grateful for the checks, claiming employees have found if customers were ever doubled charged for an item.
“Honestly the door Check is life saving they’d clock if anything was double charged,” one TikToker wrote.
“Believe it or not, but they once determined that I was charged double on a item, meaning it was actually scanned twice by mistake!” another commented.
“We got double charged for diapers one time. Door person caught it and we were able to get a refund,” a third chimed in.
CUSTOMER COMPLAINTS
Across major retailers, many customers have complained about similar security measures, claiming it takes up extra time as shoppers are trying to check out.
One Costco shopper said it now makes it “take forever” to get out of the store as employees check items and receipts at different exit points.
One Walmart shopper said they refuse to participate in the checks, calling it “nonsense.”
While it might be an inconvenience for some, one lawyer has suggested complying with the security measures to avoid potential criminal charges.
“Customers should comply if it is the establishment’s procedure,” Attorney George LaMarche told The U.S. Sun.
“If you do not like it, you should not shop there anymore.”
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