With the holidays around the corner, retail foot traffic and purchases will increase, but so will the probability of theft.
Reduce shoplifting and shrinkage at your retail business with enhanced security. Here’s how.
Protection Against Shoplifters
The holidays can be a great time to increase sales and push promotions to customers. But to remain profitable, you must protect your business against shoplifting. Consider the following security measures:
- Keep an eye out for expired or fake coupons. Have a reference book with current coupons that employees can compare to the customer's.
- Scan shopping carts and baskets carefully; watch for small or hidden items that may get overlooked otherwise.
- Ensure high-ticket items have locks or codes to access them (e.g. televisions, smartphones, MP3 players).
- Place surveillance cameras throughout the store, particularly at registers and by entryways, to keep tabs at all times.
- Attach electronic article surveillance (EAS) devices to high value items.
- Do not advertise how many items you have if customers ask. Avoid showcasing the value of store inventory.
- Place employees near the front of the store so customers can’t grab items and run.
- Watch for unusual body language or behavior, such as frequently entering and leaving your store, lingering in an area difficult to monitor or paying close attention to employees.
Develop a clear chain of command for employees to follow if they feel or know someone is stealing from your business. For example, have a point of contact or phone number readily available should theft occur. This will help alert necessary authorities within a timely manner.
Eliminate Employee Theft
Customers are not the only people that can put your business at risk for loss during the holidays. Have a plan in place for employees too. Some ways you can provide added protection during the holidays (and even long-term), include:
- Install video surveillance cameras at point-of-sales (POS) areas to monitor for suspicious activity (e.g. invalid gift cards, unusual voids or returns).
- Provide employees with unique passwords or passcodes for systems, especially POS, so you are able to appropriately track changes or activity made.
- Create policies that deter theft, such as rotating jobs, separate duties and anonymous reporting.
- When hiring seasonal employees, ensure they are high quality through an in-depth vetting and interview process.
- Have bag checks for each employee before they leave work.
What strategies does your business use to increase security measures around the holidays? Share with us below.