As a retailer, security is undoubtedly a top concern. Loss prevention, however, can be an expensive undertaking.
Some of the most effective loss prevention technologies like door scanners, facial recognition software, and security cameras – can often be costly.
At the same time, shoplifting can be a major blow to your bottom line. This fact alone makes it imperative to implement some security measures to prevent revenue loss.
Here are a few essential tips that can help retailers to avoid theft and protect their inventory.
Keep Things Tidy
A store that is unorganized and messy creates a prime environment for shoplifters. When products are disorganized, shoplifters know the inventory is not properly managed, making it more enticing for them to steal. When you don’t know which product is in stock and which isn’t, it becomes impossible to track loss prevention.
Be sure all your merchandise is properly inventoried and tagged, as well as shelved in a designated place in your store. UPC codes can help you track inventory and increase your awareness of items that are frequently stolen. This organization is also a deterrent for thieves who think they can get away with taking things from a disheveled shelf.
Develop a Relationship with Your Employees
When it comes to theft, the percentage of shoplifting within the store is high. In fact, it is estimated that around 75% of employees participate in theft or fraud at least once.
Developing a healthy relationship with your employees lets them know that you value their contributions to the success of your store. Valued and appreciated employees are far less likely to want to harm their employers by stealing.
Be on the Lookout for Dubious Behavior
Customers who engage in shoplifting usually come with warning signs. Shopliftersoften carry huge bags, wear oversized jackets, spend brief periods in a single section of the store, and constantly check if someone’s watching them.
Train your employees about these signs and keep an eye on customers displaying suspicious behavior.
Implement Loss Prevention Strategies
Adding theft prevention tags (often called as electronic article surveillance) to articles such as purses, clothes, and accessories help to secure high-priced merchandise. The tagging systems can be costly, but the benefits you reap will overshadow the costs.
These systems are an invaluable approach to reduce shoplifting. With some training and a few tags, you can be assured your merchandise won’t disappear without purchase.
You can even hire a security guard agency and position guards near the entrance and exit of your store to help dissuade potential shoplifters from trying to leave the store with tagged merchandise.
Add Preventive Signs Throughout the Store
Posting information in visible places regarding legal consequences of shoplifting, criminal charges, security methods, is a common method to prevent theft. While such signage might seem routine, research shows that advertising penalties in the store can reduce the possibility of shoplifting.
Some store owners specifically place signs near expensive products like electronics and jewelry.
Use Anti-Theft Devices
Installation of anti-theft equipment is an effective way to manage your store’s inventory. By counting the stock regularly, you can keep an eye on it and reduce the chances of theft.
Add barcodes to every product and use a barcode scanner to keep a count of it. You can also use a POS system and set a user permission level. This way, only employees with certain permission levels can access the information on the system.
Check the Receipt of Every Customer
Checking your customers’ receipt before they leave the store is another useful way to deter shoplifting. A person stationed at the store exits to examine customer receipts and compare them against the merchandise leaving the store can be another deterrent for shoplifting.
Install Surveillance Cameras
Security cameras let you see what is happening throughout the store. It also captures ongoing activities, making it easier to identify a thief when something is stolen.
Regardless of the time of day, a surveillance camera can produce a clear picture of theft-related activities.
The better quality the cameras you purchase, the better quality the evidence against theft suspects is. This helps to keep criminal thieves out of your store. It is worth the investment and also lets you bank on the insurance premiums.
Place Loss Prevention Officers in the Store
Always have someone on the lookout for malicious behavior inside your store, Ranger unarmed security guard services can do just that and manage loss prevention surveillance. Rather than having the officers stationed at the front or rear of the store, officers can be assigned to circulate the aisles to monitor customer and employee behavior.
Hire More Employees
Expanding your team can be expensive but having additional people on the floor makes it easier to identify and stop thefts.
Sometimes you might be in the storeroom or busy with a customer. In this scenario you can ask another person to keep an eye on the front of the store.
Prepare a Plan
It’s important to have an action plan in place in the case of a store robbery. Employees should be trained on how to act and react, and of any procedures regarding notifying the police and protecting themselves. Being prepared to respond can help reduce overall loss prevention and ensure your store continues to run smoothly.
The Bottom Line
There is no way you can get rid of shoplifters and theft completely. But with the right strategy in place, you have the resources to tackle or prevent deeper loss. Implementing preventive measures will increase the sustainability of your business and keep it safe.