As profitable as your retail store may be, store owners lose a significant amount of revenue in theft every year. In fact, according to Business Insider, retailers lose approximately $62 Billion a year to retail theft, fraud, and other causes. With an increase in shoplifting, store owners and managers are left wondering how they can mitigate this. Here is a list to secure your business.
Illuminating your store, especially at night, may discourage thieves from loitering or entering the premises. Having sufficient lighting in your store could make thieves visible from the outside. Additionally, clearing the front display windows of any obstruction would make any trespassers more visible. If you own a standalone brick and mortar store, make sure to install sufficient lighting around the exterior of the building to deter any break-ins. A study found that areas with sufficient lighting experienced significantly lower crime rates than areas without.
Secure all Stock
It’s a good idea to lock away any and all valuable equipment or stock before leaving the store at the end of the night. Invest in a safe or a storage that can be locked and is out of sight from the outside. Move the valuable merchandise away from windows and doors to make it difficult for thieves to target them in a smash and grab. Additionally, secure all windows and doors so that no one can easily enter the property. Don’t forget to remove cash from the cash register and lock them away in a safe for the night.
Turn on Monitored Alarms
Not only do you get a peace of mind knowing there’s a security system running in your absence, but some camera systems have an app where you can check in and monitor your property at a distance. Your security system could range from motion sensors, silent alarms, cameras, and more to discourage thieves from even trying to burglarize your business. Fire alarms protect your business from literally going up in flames and can notify local authorities to quickly respond. Make sure these are operational and meet local standards for further peace of mind.
Hire a security guard for an extra set of eyes to monitor your store. Studies show that people behave differently when they feel they’re being watched. This serves as a great deterrent for thieves and prompts customers to behave in a way that may reduce damaged or lost goods. Security guards are there to observe and report, and if instructed to do so, can control the amount of people who are allowed to enter the store at a given time. This reduces large crowds which may allow thieves to easily slip in and out. You can find out more about security guard services here.