The retail industry loses over 33 billion dollars to shoplifting. This alarming statistic substantiates that safety should be your business's number one priority and security your number one concern. While safety is a year-around must, the increased holiday foot traffic leaves businesses especially vulnerable to theft.
This season flourish in the holiday frenzy and avoid being a victim of crime. We’ve outlined five tips for reducing the risk of theft:
How do you know what’s being stolen? There is good reason why this is first on our list because knowing what’s in your inventory will show you how theft is affecting your bottom line. Protect your robust holiday goods from theft by implementing inventory management tools.
Revel Systems Point of Sale is full of inventory control features that give business owners and managers everything they need to track discrepancies and shrinkage with real-time reporting and low-stock alerts that notify you when inventory is trending low.
Hire seasonal staff in advance of the busy season to ensure that your store will be well staffed. Man the floors with employee’s watching for suspicious behavior and engage with every customer that comes through the doors, making it obvious that the staff is aware and attentive.
Make shoplifting prevention a part of an orientation course for new employees. Instructing your staff on the importance of retail theft and the financial impact on your business will both increase employees’ vigilance and dissuade those employees that may think to steal from you.
Monitor Internal Theft
It’s not just customers that you have to be watchful over, in fact employee theft accounts for 43% of inventory shrinkage – more than that of shoplifting. Monitor employee activity with a point of sale employee management tool. This will enable the owner to set different authorizations on what employees can access, reducing dishonest transactions.
Not to mention a secure iPad POS System will ensure secure transactions, protect valuable customer data, uphold your business’s reputation, and help maintain a positive ROI. There’s no price tag on the peace of mind that follows as a result.
A cheap solution to protect your business during the holidays is arming your store with warning signs, “Shoplifters will be prosecuted to the full extent of the law” and “This store is monitored by XYZ Security Company.” Many shoplifters steal because it appears easy to get away with, so by eliminating that assumption potential shoplifters will be deterred.
Improve Lighting and Layout
A dim, cluttered, and confusing layout invites theft. Shed light on anti-theft with a well-lit and strategic store layout. One study shows that a majority of shoplifting is not premeditated, thus keeping the environment open and well-lit will make the potential shoplifter feel exposed and less likely to commit the crime.
These preventative measures can yield results. Controlling theft is a key to profitability no store can afford to ignore.