For small businesses—or, simply, businesses on a budget—integrating effective, efficient anti-shoplifting protocols can seem challenging at best. With big businesses pouring millions into safety and security, meaningful solutions can seem completely unattainable for most retailers—retailers that, on average, are losing nearly 2%of their gross sales to theft.
So how do you combat these losses without breaking the bank in the process? While cutting-edge systems and store-wide integrations can be costly, there are a host of low-cost, high-impact options for brands and businesses. By integrating one or more of these turnkey measures, your location can lessen internal and external theft, boosting your bottom line in the process.
#1. Get (and stay) organized
It’s hard to stop losses if you can’t identify where they’re coming from, specifically. To that end, it’s essential to have a transparent inventory system in place, including detailed logs of products received, sold and returned.
In short, you need to know where all of your products are in the sales cycle at all times so you can quickly and easily identify where and when the loss is happening. According to the National Retail Federation, sources of retail theft are split relatively evenly between employee theft, shoplifting, and other losses. If you can pinpoint what your theft landscape looks like, it’s easier to take decisive steps to prevent future issues.
#2. Keep products very visible
In that vein, keep your store, stockroom and other spaces clean, clear and organized. If you’ve got messy piles of apparel, for example, or displays blocking high-value products, it’s hard to spot when something goes missing—and the more inviting it is to internal and external shoplifters. On the flip side, an open floor plan with good lighting and well-spaced aisles and displays make everything—and everyone—more visible and manageable.
While every store wants to create positive customer experiences, don’t worry too much about not having everything visible and on-display. Worst-case scenario, a shopper needs to ask for a different size or color. This immediately controls the engagement and overarching sales cycle, adding an associate to the mix and, with that, likely keeping theft at bay.
#3. Look for tell-tale signs
Baggy clothes, heavy coats in the summer, childless strollers—cliché as it may sound, these are all common signs of shoplifters. While it’s important to be cautious and by-the-book when you spot these signals, it’s important to let your security guard know or, minimally, to alert staff to keep an eye. Again, these aren’t indicators shoplifting is definitely happening but, in many cases, they do signal something isn’t quite right. Keeping an eye will give you peace of mind and, in some cases, help you prevent shoplifting before it happens.
#4. Loss prevention signs
Seventy-three percent of in-store thefts aren’t premeditated, and that often means they’re easier to prevent. Often, simple measures like loss prevention signs will make potential thieves think twice. Signs that simply state the premises is under surveillance or that shoplifters will be prosecuted to the fullest extent of the law stop would-be criminals in their tracks. It’s simple but it’s effective and, regardless of your security strategy, is a no-brainer.
#5. Finding YOUR solutions
Above all else, focus on solutions that fit your unique business. A small retailer, for example, doesn’t need the same level of security that a major department store requires, nor can a high-end jeweler cut corners where a grocer may be able to. Again, it’s about focusing on your business, your budget and your market and determining the steps you need to take to secure your space and your merchandise.
Some good examples? Designed to seamlessly integrate into your existing in-store design and architecture, electronic cabinet locks create an invisible barrier between your products and both internal and external shoplifters. Leveraging cutting-edge but incredibly user-friendly RFID technology and keyless access control our Senseon Secure Access e-locks, cabinets, and customized kits, for example, ensure you always know who’s accessing inventory when. And when products aren’t “in use?” SSA auto-locks, ensuring no one gets in and nothing gets out. It’s next-level merchandise protection, with the smart locking and rapid access you need to maximize loss prevention while ensuring a positive consumer experience every time—exactly what diverse retailers need to deter theft now.
Beyond electronic cabinet locks, don’t forget about core security add-ins such as standard video surveillance equipment and alarm systems. Now more than ever, businesses have a variety of options available, ranging in price points, functionality and performance. Even a basic alarm can be enough to deter a would-be shoplifting, while a single camera can easily capture a crime in the moment, giving you the evidence needed to confront or, even, prosecute an offender. Again, these don’t need to be extensive features—a single camera or basic monitoring system can keep significant loss at bay.
Visit our Retail solutions page to learn more and get in touch with our expert team and see first-hand how Senseon is redefining in-store security for countless brands and business.