Protect Your Retail Business From Customer Theft
Sadly, retail theft is a part of owning and managing a business. It, unfortunately, costs Canadian retailers nearly $4 billion in losses each year. But, that doesn’t mean you and your goods have to just sit around and wait to be a target of customer theft. There are six key steps you can take today to deter theft in your store.
1. Lighten Things Up: Review the layout of your retail space to see if there are low-lit areas that could benefit from more light. Not only can this improve visibility for you to monitor and catch shoplifters in the act, but it can also serve as a deterrent for potential shoplifters who may avoid it altogether.
2. Sound Off: Let customers know you’re keeping track of their coming and going by installing a welcome bell at your store entrance. This lets potential shoplifters know you are monitoring the flow of traffic. It may even catch them off-guard.
3. Roll the Cameras: If you don’t have them already, install security cameras throughout your store so you have a clear view of every section of your retail space. If visible to customers, they may deter shoplifters from committing an act of theft by knowing they’re being monitored. It also provides a point of reference for investigators and insurance providers to crack down on customer theft.
4. Greet Every Customer: Let shoppers know you’re around by greeting them and offering to stay nearby should they need assistance. Not only is this generally good business practice, but your friendly greeting could make them think twice about the likelihood that they’ll get away with their shoplifting plans.
5. Stock High-Value Items Near Checkout: Keep expensive items near the checkout counter. Popular or costly items are often prime targets for shoplifting, so keep a close eye by putting them in an area with high visibility.
6. Tag It: Add electronic security tags to all your products to detect non-purchased items that exit your front door; nothing stops a quiet getaway quite like an obnoxious alarm.
Also, don’t forget to implement loss prevention strategies with your employees. Although it’s often a hard truth for small retail businesses to accept, the fact still remains that 33 percent of retail theft is an inside job.