Implementing Security Measures to Prevent Shoplifting

It might be too early for retailers to prepare for the holiday season, but it is never too early to implement security measures to prevent shoplifting in their stores. The holiday season attracts more customers than at any other time of the year, therefore shoplifting incidents increase with the increase of customers as well.

Having and implementing security measures before the holiday season starts can be beneficial to your bottom line.

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Shoplifting: How to prevent ‘blind spots’ in the store layout

Though many types of theft deterrent equipment exist, one of the most effective and affordable approaches is preventing retail shoplifting is by avoiding “blind spots” in the store layout.

In this regard, one of the hardest places for supermarket or mass merchandise cashiers to control and easily view has been under the shopping basket, which is usually blocked by a basketful of other items above it. Failing to ring up items under the basket before customers leave the store can be extremely costly to retailers.

To prevent such losses, one nationally recognized mass-market retailer has already installed over 90,000 bottom-of-the basket (BOB) mirrors in an effort to limit this type of shrinkage in their business. The inventive mirrors are comprised of lightweight acrylic and the mirror mounts opposite the standing cashier to provide a clear, unobstructed view of the bottom of the cart without requiring the cashier to move or stoop, which also expedites checkout.

Tuesday Tip: How to Avoid Shrink

Retail theft affects a retailer’s bottom line and, ultimately, the cost of goods to the consumer. According to the 2017 National Retail Security Survey released in June by the National Retail Federation and the University of Florida, retail theft and other inventory shrink grew to $48.9 billion in 2016 from $45.2 billion in 2015. The thefts amounted to 1.44 percent of sales, up from 1.38 percent the prior year. So what are retailers to do to minimize shrink?

“Good customer service is the best deterrent to theft,” said Tom Konopacki, owner of Anastazia Treasures for the Home in Geneva, Ill. Introducing yourself and letting your customers know you’re there and willing to help them also lets them know that you’re aware of them and possibly watching.

Sorting It Out: Protecting the Supply Chain Against 4 Common Security Threats

Maintaining Security Awareness is Essential

Retailers in America lost billions of dollars in 2016, largely due to shoplifting, employee theft and other types of inventory “shrink, according to new data compiled by the National Retail Federation (NRF) and the University of Florida. The survey shows that inventory shrink grew to $48.9 billion in 2016 from $45.2 billion the year prior. The increases in losses were found to be largely due to the result of flat or declining retail security budgets.

“While Retailers are proactive in combating criminal activity in their stores they acknowledge that they still have a lot of work left to do,” NRF Vice President of Loss Prevention Bob Moraca said. “The job is made much more difficult when loss prevention experts can’t get the money they need to beef up their staffs and resources. Retail executives need to realize that money spent on preventing losses is money that improves the bottom line.”

Nearly half (48.8 percent) of retailers surveyed said they saw an increase in inventory shrink, while nearly 17 percent said it remained flat.