Shoplifting and employee theft have detrimental effects on store profitability. Whether you’re a small operation or big corporation, it’s important to keep an eye on your store’s activities to ensure the safety of employees, patrons and assets.
Shoplifting costs your business profits and may produce the need for downsizing. This harms both you and your employees. Consider the following:
- Nearly one in 11 people shoplift; only one in 48 get caught.
- Twenty-five percent of shoplifters are kids; 75% are adults.
- Shoplifters don’t discriminate on the type of stores they target. Common stores include department stores, specialty shops, supermarkets, drug stores, discounters, music stores, convenience stores and thrift shops.
Uncovering Employee Theft
Worse yet is employee theft. Despite thorough background and reference checks, your trusted employees may have the inclination to steal.
- According to one study, 35% of employees have stolen goods or services from their workplace.
- Cash is the most common asset stolen.
- Employee theft accounts annual losses of $53.6 billion in the U.S. retail industry.
Loss Prevention Through Security Technology
The best way to mitigate your risk is to employ available technology to be your eyes when you’re away. A combination of mobile and video surveillance solutions can help prevent lost assets, promote store safety and ease your mind.
Whether you’ve stepped out for lunch or are half way around the world, mobile access and video surveillance let you check in on your store at anytime.
- View live video streams of your business from your mobile device or desktop.
- Record clips, and store them for later reference.
- Remotely arm and disarm your system, control camera angles and adjust views.
- Enable motion-triggered settings, and receive alerts when someone enters a prohibited area.
- Monitor employee behavior, and identify point-of-sale red flags.
Bonus: Video surveillance can also provide valuable insight into customer analytics such as customer traffic, purchase habits and sales patterns.
Are you ready to take control of your business’ vulnerabilities and embrace loss prevention technology? Share your experiences below.
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