Shoplifting is an ongoing problem for retail stores. Earlier this year the National Association for Shoplifting Prevention releveled that there are over 550,000 shoplifting incidents every day, resulting in over $50 billion in retail losses every single year. And with the cost of living at an all time high, that shoplifting rate is only going to go up. Since loss prevention has never been more important for retail businesses, here are 4 tips to improve yours.
Identify Your Weak Points
Every single retail business, even the smallest corner shop, has its unique security vulnerabilities. Set aside some time to take stock of what your weak points are, so that you can put the right systems in place to protect them. A few things to consider include:
- The demographics and crime rate in your area
- The overall security of each entry point
- Inventory, merchandise and cash kept on site
- The layout of your shop
- The trustworthiness of your staff
These are by far the most common potential weak spots we see in retail shops, and by identifying them in yours you can take steps to reduce the risk.
Invest In Lighting
A poorly lit property is like a bright beacon to thieves, telling them to come and help themselves. It tells them that the property isn’t well maintained and that it probably doesn’t have good security in place, so would make an easy target. Lighting for your shop, both inside and out, is probably one of the best investments you can make. Position lights to illuminate steps, covered areas, walkways, car parks and entrances outside to protect both your business and your employees coming and going. Inside, make sure your lights are well placed, bright and always have working bulbs, so that you can see everything happening in the shop. You don’t want dark spots where thieves can hide what they’re doing.
Use EAS On Commonly Stolen Goods
EAS stands for Electronic Article Surveillance, and it’s basically a fancy term for the electromagnetic tags shops put on clothing and other valuable items within the shop. These tags need to be deactivated by a staff member at the checkout using a special tool, or they will trigger an alarm at the exit. These simple tags can give shop owners instant notification of theft and dramatically reduce shoplifter confidence. Place these tags on the most valuable items you stock, as well as the items you see stolen most often.
Install Video Surveillance
Video surveillance and CCTV systems are powerful deterrents for shoplifters. So much so that there was a trend a few years back to install false CCTV cameras to act as a deterrent instead of real ones! Unsurprisingly, real cameras are much more effective for loss prevention purposes. A mixture of covert and overt video surveillance can give you the ability to monitor your business and collect evidence at the same time, should you need it. It also gives you the ability to monitor your business from anyone in the world, so owners don’t need to visit their sites to be sure everything is going well. Plus, if you strategically place some of your video surveillance at tills and other points of sale, you can help prevent:
- Fraudulent transactions
- Employee misbehaviour (like misuse of company discounts, issuing refunds with no customer present or fraudulently issuing gift cards)
- Suspicious activity near the tills (like people loitering, products left under trollies or buggies, or no customer being present during a transaction)
This allows you to track your business and security in a much more concrete way, especially when combined with paperwork and written records. Just don’t forget to put up a CCTV sign or two to further deters shoplifters!
If you own a retail business and want to tackle loss prevention, we would love to help. We offer free site visits and surveys so that we can provide you with a detailed, bespoke solution for your business. If you would like to know more, just get in touch today and book yours.
