While the focus is often on protecting consumer data, retail theft is still a major problem. As retailers deal with stolen stock, they often have to increase prices to cover their losses.
Luckily, there are ways to better protect your stock and reduce the threat of shoplifting. You may not be able to prevent the problem 100% of the time, but you can drastically reduce it by following a few simple security processes.
Retail Theft Statistics You Need To Know
If you don’t think theft is that big of a deal in your store, consider these shocking statistics:
- Shoplifting accounts for 39% of reported retail inventory shrink
- Out of just 25 retailers, 1.2 million shoplifters and thieving employees were caught
- Average loss per theft is $377, which increased from the previous year
As long as you have stock on shelves, there’s always a risk. With a focus on boosting security within your store, you can lower your risks.
Gain More Visibility
The first step is to make it difficult for thieves to hide their activities. Place displays where they’re easy for cashiers and other employees to see. Add in mirrors to see around corners and areas that may be blocked by shelves.
The easier it is to see the merchandise in your store, the harder it is for shoplifters to grab anything. This is also a great reason to keep your store as clean and neat as possible so it’s easier to tell if a theft is taking place.
Have Monitored Security Systems
Employees are going to get distracted by customers and each other. They can’t possibly see everything corner of the store at all times. This is where a monitored security system comes into play. Having someone watching the security cameras and relaying information to employees is a great way to catch shoplifters in the act.
For optimal security, have visible cameras and signs that let all customers know they’re being monitored. This alone may deter many potential thieves.
Train Employees On What To Watch For
Sometimes a shoplifter is obvious. They might stuff something large under their coat or get really nervous any time an employee looks their way. Train employees in what to look for and how to approach a potential shoplifter in a polite way.
For instance, customers who spend an unusual amount of time in one area or tend to watch the employees more than they look at the merchandise, there might be an issue. For stores with dressing rooms, it’s important to watch how many people go in together or how many items go in versus coming back out.
Keep Registers Near Exits
This goes back to visibility. You need someone watching the exits. When registers are the middle or back of the store, it’s easier for thieves to grab and go. When registers are right next to the exits, it’s much more difficult for someone to get past the cashier without looking suspicious.
Maintain A Presence
If possible, have employees that regularly walk around the store talking to customers. Shoplifters never know when an employee might walk by and this may deter at least some from committing the crime. It’ll also help employees to better spot suspicious behavior.
Add An Extra Layer Of Security
If shoplifting is a problem in your retail store, the next option might be to hire on-site security. For instance, malls have security guards to provide extra security for individual retailers and the mall itself. You can even hire security guards to watch the monitors and catch shoplifters for you.
The great thing about hiring a security firm is you’re able to staff guards when you need them most. For instance, you might only have theft issues during weekends or in the evenings. The cost of security could actually save your store money.
Contact BOS Security Today
Want to know more about securing your retail store with on-site guards? Contact BOS Security today 404-793-6965 to learn more about how we can help.
Not sure how your current security stacks up? Let our free Security Needs Assessment help you better determine your security needs.
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