If you’re a retail business owner or a manager, you have a lot of concerns. There are overhead costs, inefficient employees and slow sales days that can all have negative effects on your business.
Another common concern is shoplifting. It’s an epidemic that has cost retailers billions. Shoplifters can seriously affect your profitability. You have lost sales and lost goods. You now have to replace the items that were stolen and work even harder to recoup the revenue that was missed.
You don’t have to let this get you down, however. There are many ways to protect your business from shoplifters. You can read more online about security products and read client testimonials.
Here are some effective security solutions to address shoplifting:
- Build customer relationships. One common sense way to reduce shoplifting is by having personal rapport with every customer that comes into your store. The more they know you, the less likely they are to steal from you. It’s also a good way to generate word of mouth referrals and increase business.
- Build employee relationships. Shoplifting isn’t just caused by customers. Many retail companies report incidents of theft from their employees every year. That’s why it’s important to build good relationships with your employees as well. Keeping them happy and motivated will generally reduce the likelihood of them stealing merchandise from your company.
- Be on the lookout for any unusual behavior. A good retail store owner or manager should know the tell-tale signs of a potential shoplifter. If you have someone loitering around your store without buying anything, looking around for store security employees or staring at employees, or anyone wearing a large coat or carrying a large purse, chances are they could be a shoplifter taking a mental inventory of the items they want to steal. Keep a close eye on anyone exhibiting unusual behavior, and don’t be afraid to approach them if necessary.
- Put up signs. A common tactic that many retail businesses employ is putting up signs around their store. Having warnings about shoplifting prosecution and reminding potential shoplifters that they are being monitored by security cameras gives them less incentive to steal. Adding such signs in areas with valuable merchandise such as jewelry or electronics can be a great theft deterrent.
- Manage your inventory. Keeping track of your inventory on a regular basis can help reduce product loss. Make sure your storefront is neat and orderly. Having open boxes laying around can make it difficult to track merchandise at the end of the day. You may want to install a point of sale system that can help you track inventory. You can have up to the minute details on the quantities of every product that you carry. You can match these records against your sales records to help identify any lost or stolen goods. It can also help you keep track of any fraudulent returns that may be attempted.
These are just some of the many ways to help reduce your store’s shoplifting incidents. Another way is to report such events to your mall security officers or local authorities. Even if the theft is minor, it tells shoplifters that you take the loss seriously. Shoplifting can have serious consequences for your company, so keeping yourself, your employees alert and informed can greatly reduce the chances of such activities from happening and help improve your profitability and success.