preventing theft in your business
Protecting Assets in Your Retail Store
Retail theft may have a severe impact on your business! According to The National Association for Shoplifting Prevention more than $35 million worth of product is stolen from retail stores everyday. This number is astronomical. That is why it is important to stay aware and be prepared to stop the theft from happening in the first place. Here at Strand Security we want to make sure our local Myrtle Beach and Maryland businesses know what it takes to win this battle. The following statistics will hopefully open your eyes; we believe every retail owner would want to know everything we are about to share with you.
Don’t be a Statistic, Protect Your Assets!
- Over $13 billion worth of goods are stolen from retailers each year.
- Approximately 27 million shoplifters are in our nation today.
- Employees steal more than the customers.
- Only 3 percent of shoplifters are professionals. Shoplifting is not usually planned out.
- Shoplifting can account for about a third of inventory shrinkage.
Protect your Assets by Knowing the Profile of a Shoplifter
There is no actual physical profile of a typical shoplifter. They come in all ages and genders, sizes and shapes, and all ethnicities. Shoplifters steal for many different reasons; some steal out of necessity, some out of peer pressure, desire, and some because it may be a business transaction.
Although you may not be able to pinpoint a shoplifter by their physical appearance, here are some traits and signs to look for in a potential shoplifter…
- Appear nervous
- Wanders the store without buying
- Returns to the store repeatedly
- Avoids eye contact
- Constant watch over store employees
Once you understands the signs, you can now train your employee’s in general shoplifting prevention techniques.
Have your staff
- Greet all customers.
- Stay alert.
- Ask lingering customers if they need help.
- Be aware of where shoplifting is most likely to occur in the store.
Protect Your Assets by Reducing Employee Theft
It is unfortunate that when we hire people we think we can trust, that trust gets broken. Employee theft plays a large role in retail loss. The following ideas and solutions will help prevent or at least, reduce in house theft.
- Make periodic unannounced visits to your retail store.
- Spot-check inventory and cash registers.
- Use a POS system (inventory-tracking system) that tracks inventory automatically.
- Train employees on theft prevention, both employee theft and shoplifting. Let the employees know the company is prepared to detect either.
- Encourage anonymous tips.
Protect Your Assets and Prevent Shoplifting
- Hire Secret Shoppers that blend in with other shoppers.
- Video surveillance cameras. Place cameras at all entrances, cash registers, and throughout the store. You can’t put cameras inside to the dressing rooms, but you can put them just outside. If security systems are put in place, you will protect your investment, your employees, customers and your overall sense of well-being.
- Electronic Article Surveillance is a method that attaches special tags (security tags) to the merchandise. If merchandise exists the store without being removed by a store associate, an alarm will sound.
- Maximize Visibility by using mirrors to eliminate any blind spots. Also, use shorter cases to make sure merchandise is completely visible. Keep your shop tidy and neat, so at one glance you can tell if something is missing or out of place.
- Limit access to display cases and dressing rooms by locking them. This requires associates to be present when opened.
- Implement a bag check policy, which does not allow customers to bring bags into the dressing room area.
- Create a shoplifting policy and post that policy publicly. Post signs with statements such as “SHOPLIFTERS WILL BE PROSECUTED”.
Don’t let shoplifting have a negative impact on your business!