Shoplifting is as old as shopping itself, but it does not have to ruin your business. Shoplifting affects retailers all year round however the worst cases usually coincide with the Christmas trading period.
Extended trading hours and Christmas only specials encourage an increase of in-store traffic that leads to escalated cash flow. The festive season can often present retail challenges that test the alertness of your staff, the trustworthiness of your staff and the security of your business.
National studies indicate shoplifters can account for 20-50% of missing merchandise, depending on products stocked, location, and the diligence of your security system.
Shoplifting is not something you can endure as a condition of running a retail business nor is it something for which you should budget large amounts.
Signature Security Group believes that loss prevention is more than minimising retail shrinkage, it is about thinking ahead. Why wait until your business becomes a crime statistic?
By implementing a loss prevention strategy there are also a number of flow on benefits such as lower insurance premiums and a safer environment for customers and staff, which means longer and repeat customer visits and a lower staff turnover.
Different retail business environments require different solutions. A large range of anti-theft solutions, electronic or otherwise is available for retailers. Effective signage is the first strategy for consideration.
Clear signage that declares the store’s policy on shop lifting and sales returns or that the store is monitored creates the perception of greater risk. While signs are unlikely to have an effect on the committed criminal, petty thieves are often deterred when they are reminded of the barriers to theft and the consequences.
Moving onto electronic security solutions, a basic intruder alarm is a necessary and cost effective part of the security strategy. Panic Buttons may complement a retailer’s security solution and also satisfy a duty of care component an employer has to their staff.
After an armed robbery a major supermarket chain was recently fined $90,000 for failing to provide Duress buttons for its staff.
Retailers can then further extend their security by installing recording devices such as CCTV and DVR technologies. The new Point of Sale security solutions are extremely affective in not only recording customer movements but also staff cash register transactions.
Access Control systems can control the access and egress of staff and customers. Basic Access Control using button triggered door access to access swipe cards to the new biometric technology are all available.
Specialised security solutions are also an option for a Retailer’s security strategy. Smoke Protection Systems are effective for after hour break INS.
Once an intruder is detected, the Smoke Protection System emits a cloud of non damaging smoke masking all goods and making escaping difficult.
Signature Business Secure is a device that can link an Alarm panel, security cameras, internet and phone line allowing for a flexible, robust and cost effective security solution.
Furthermore, this allows a business owner greater control of their business security via remote business monitoring over their PC or video enabled mobile phone. Off site security monitoring means greater visibility of business processes, staff and customers at any time.
Electronic Article Surveillance allows for the detection of stock being removed from your premises. This is a highly effective security solution to minimise the possibility of unpaid goods walking out of your store.
Any security strategy should incorporate 24 hour security monitoring. On the activation of an alarm, an Alarm Response Centre is able to execute a pre arranged action response plan.
Signature’s network of Alarm Response Centres provide rapid alarm response times, good customer service and computing facilities 24 hours a day, 365 days a year.
Many loss prevention strategies are available to help keep your business secure and minimise stock shrinkage. Each business will be different in the types of loss prevention solutions applicable to their retail environment.
Signature Security Group offers no obligation security assessments to help you decide what the good solution is for your specific business needs. Leasing Plans are also available to make the right security solution affordable for all budgets.
Implementing the right security solution for your needs will help minimise the loss of valuable revenue due to unnecessary and controllable stock shrinkage.