Retail is all about selling goods to consumers to earn a profit. Retailers satisfy demand identified through a supply chain and are the frontline of every company.
Despite the pandemic, retail sales reached a staggering six trillion dollars in 2021. That was also when e-commerce sales reached an all-time high of $800 billion. However, believe it or not physical retail sales could have been higher if it wasn’t for customer theft.
Customer Theft
Sometimes you might get some dubious customers to your shop. Unfortunately, these customers might be shoplifting your products without you even realizing it. In the U.S., it’s estimated that retailers lose, on average, about $700,000 per one billion dollars in sales due to shoplifting. This is a huge loss for businesses, and it can be prevented by increasing security in your retail store. Thankfully, there are ways you can decrease this. One way is by increasing surveillance.
Increase Surveillance
Thieves won’t steal from you if you know what they’re doing. You can do this by installing security cameras in and around your store, and you can identify the culprit and take appropriate legal action against them with the footage. You can also use the footage as evidence in court.
You should also install mirrors in strategic locations around your store to have a clear view of all the aisle ends. This way, you can see if anyone is putting something in their pocket or bag.
Another way to increase security is by using anti-theft devices.
Use Anti-Theft Devices
To protect your merchandise, you can use anti-theft devices such as alarm tags, ink tags, and spider wraps. Alarm tags will make a loud noise if someone tries to remove them from the product. Ink tags will explode and permanently mark the thief with ink if they try to remove them. Spider wraps are transparent plastic bags that you can put your products in. The bag is then sealed with a strong adhesive, making it nearly impossible to remove without damaging the product.
You can also use security cages to protect high-value items. These metal cages you can lock and can only be opened with a key or code. You should also consider hiring security guards.
Hire Security Guards
You should hire security guards to patrol your store if you have the budget. They will be able to deter thieves and catch them in the act if they try to steal something.
You can also train your employees to be aware of theft and how to prevent it.
Train Your Employees
You can train your employees to be on the lookout for suspicious behavior. For example, they should know what to do if they see someone trying to steal something. They should also know how to use the security devices in your store.
You can also post signs that say you are watching and recording all activity in your store. This will deter thieves from even attempting to steal from you.
Invest in an Access Control System
Sometimes, theft happens when you’ve closed down your store. You can prevent this by investing in an access control system. This will allow you to control who has access to your store after hours. You can install an ACS by first investing in robust EAC software. This software will manage and monitor all the activity in your store. Next, you’ll need to purchase physical access control devices such as CCTV cameras, door controllers, and badge readers.
You can also use a cloud-based access control system. This will allow you to remotely manage your store’s security from anywhere in the world.
Moreover, having automatic locks in your store wouldn’t hurt. It can add a new layer of security, especially if you have some employees helping the crime happen. It does this by not letting anyone in or out of the store without you knowing.
Invest in a Good POS System
A POS system can help you keep track of your inventory and sales. It can also help you track who is buying what and when. This information can be used to prevent theft. For example, if you see someone purchasing many items that are often stolen, you can keep an eye on them.
You should also consider investing in a loss prevention system. This system will alert you if someone tries to remove something from the store without paying for it.
Loss prevention systems can be expensive, but they are worth the investment if you want to decrease the amount of theft in your store.
There are many ways you can increase security in your retail store. Following the tips above, you can deter thieves and catch them in the act if they try to steal from you. It can also help you track inventory and sales, preventing theft before it happens.
