Last year, the retail industry lost almost $30 billion due to retail crime, with most retailers reporting that these numbers are up from the previous year. These dire statistics are simply because of rampant unchecked shoplifting. There are organized retail crime rings that steal millions of dollars worth of products from retail stores all across the world. No matter if the product is stolen at a distribution hub, in transit, or in the store, the losses continue to climb and these retail crimes aren’t going away on their own. Simple loss prevention programs can help to avoid a large percentage of these losses, and the first step of any LP program is being informed about what you’re up against. Read on to learn more about the necessary security services to protect your business. If you’re looking for safes for sale, call Affordable Lock & Security Solutions in Brandon today!
Common Types of Retail Crime
- Shoplifting- About $10 billion of annual losses are due to retail crime, making it one of the top threats to your bottom line. In a brick and mortar store, preventing shoplifters should be one of the top priorities of your loss prevention plan. This isn’t just rebellious teenagers who are trying to make their parents angry. There are veteran shoplifters who make off with thousands of dollars of product without anyone noticing, including your loss prevention officers.
- Internal theft- Affordable Lock & Security Solutions, a top source of safes for sale, notes that depending on the size of your company and your product offering, internal theft can be a major concern for your store. Even if you run background checks, you can’t be a hundred percent sure that a staff member won’t steal from you. From swiping a pen at the end of the day to stealing a dozen TVs during off hours, internal theft is a huge problem for many businesses. Outside of physically catching an employee in the act, the best way to prevent internal theft is to add an access control system to your inventory stock areas in conjunction with an electronic stock management system.
- Sweethearting- When you have an employee that gives discounts to their friends, family, or boyfriend/girlfriend on shift, it can cost you a lot of money. This can range from scan avoidance to price overrides and refund/void fraud so it can be very difficult to detect forensic analysis, or even from recorded video. The only reliable way to curb this is through a video security system with POS software on your registers and to go over receipts at the end of each shift.
Security Services To Curb Retail Crime
- Fraud- There are so many types of fraud that it could warrant a million articles. However, they all boil down to one main factor- doing something illegal to pull one over on your company. You need to train your teams to spot the telltale signs of fraud in order to prevent it from happening.
- Vandalism- Vandalism poses a major risk to retail stores, especially those that cater to a younger clientele or companies who are located in rougher neighborhoods. Besides having a security system installed, you need to maintain order in your window display. The prevailing theory is that the more order your store instills, the less likely it will be to attract crime.
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There are many security services you can put into place in order to keep your retail space safe. If you’re looking for safes for sale, call Affordable Lock & Security Solutions in Brandon today!