If you own a retail store, you’re aware of how devastating theft can be to your bottom line. According to studies, retail businesses lose up to $20 billion a year on theft, including around ⅓ of that loss from employee theft. That’s a huge chunk of change you can’t afford to give away. In the effort to curtail these overwhelming losses, as well as deter them from happening, use these tips to prevent theft at your retail business.
1. Install a Surveillance System
While a surveillance system is a more expensive option, it pays for itself almost instantaneously. Not only can you provide evidence of theft to authorities, but you also have a deterrent that prevents theft altogether. Make sure that you install surveillance systems in both areas where customers and employees are present, as well as points of entry to your store where potential thieves could break in.
2. Perform Background Checks on New Employees
The Great Resignation has led to many retail stores struggling to find employees. As a result, you may have to make some concessions and hire people with little to no experience. While most workers are well-intentioned and upstanding citizens, make sure to perform a background check to eliminate any high-risk candidates. While minor infringements or traffic tickets aren’t a cause for concern, those with shoplifting, burglary, or robbery charges can immediately be eliminated from the candidate pool.
3. Educate Your Employees
Another low-cost way to prevent theft at your retail business is simply to educate your employees on how shoplifters and thieves act. Teach them how to identify suspicious behavior so that they can curb the problem before it starts. Moreover, you may want to hire at least one loss-prevention specialist to monitor the cameras so you’re covered.
4. Organize Your Store
Retail thieves are most commonly offenders that simply see a crime of opportunity. If your store is cluttered or laid out in a way that has high-dollar items in closed-off areas, you’re leaving yourself at risk for theft. Organize your store to ensure that high-priced merchandise is in highly trafficked or monitored areas and adjust the layout of your store as necessary, especially if you notice theft in a particular area.
5. Place Signage in the Right Places
While the “Smile, You’re on Camera” signs might seem tacky, they work. When you post signage around your store about surveillance systems, would-be thieves immediately think twice. Moreover, posting signs in the bathroom or changing areas that state that you punish shoplifters to the fullest extent of the law will make thieves think twice about stealing from your business.
Need a Surveillance System? Call TexasSurveillance.com
If your retail business lacks a surveillance system, you could certainly buy and install the cameras yourself. But without the expertise and experience of a trained surveillance professional, you may leave blind spots or have other issues.
Our team of professionals has been serving the Texas Area for over 28 years. We’re glad to perform a detailed assessment and provide you with a detailed proposal for your commercial surveillance needs. Contact us today.