Retail crime is one of the biggest problems for supermarkets and small retailers in the marketplace, and it does not get any better due to the holidays. According to FaceFirst statistics, the US retail industry lost more than $45 million a year due to inventory depletion. From theft to internal stolen, fraud and organized retail crimes, retailers face a variety of problems, especially during the holidays when they process more customers and add new inventory. This can have a profound effect on profit margins and business operations.
Retailers need a proactive strategy, including wise choices, such as installing a high-end retail security camera to prevent retail crime during busy festivals. That’s why security measures are important.
1. More shoppers risk theft
As we all know, most customers like the bigger and better deal enthusiasm that retailers offer during holidays. This means that the business of the retailer is active, but increasing the number of buyers during the holiday season leads to its own risks, such as theft. In fact, organized inbound stores in major cities were reported to have stolen more than $200,000 in short trips. Using strategies such as creating confusions like relocations, they can draw employees’ attention from thieves who steal things.
Only Organizational Retail Crime (ORC) results in annual retail loss of up to $30 billion. These high numbers make it easy to understand why retailers need to invest more in tools and technologies to help strengthen holiday shopping and reduce store shrinkage and loss. This is where commercial-grade IP retail security cameras can be installed inside and outside the store to monitor the flow of customers and employees at any time. With these systems, retailers can be relieved.
The way merchandise is displayed in stores is important in preventing theft. All supervisors at the sales floor assess daily transactions, regularly review retail security camera surveillance videos, and ensure that there are no deleted or invalid sales to prevent theft.
2. Temporary workers can be culprits
According to the National Retail Security Survey in 2018, employee theft accounted for 30 percent of retail store inventory declines. Temporary workers are the driving force of the retail business when retailers handle the shortage of workers during holidays. But it is true that temps do not invest in companies like full time workers. Temporary personality, relatively low status and compensation can lead to theft of some workers.
For this reason, seasonal workers have no access to safety information such as key information, alarm codes, and retail security camera systems. To avoid theft of workers during busy holidays, you should start with the recruitment process. This means a vast review of each worker, a background check and adequate time planning for proper training and seasonal employment.
Before assigning roles, consider evaluating each worker’s experience and pairing them with experienced regular workers until you can do your job. Clearly communicate company policies and contracts regarding theft and execute them properly and consistently. Employees are willing to try to reduce internal theft.
3. Inventory growth usually creates weaknesses
Retailers face a daunting task of meeting increasing customer requirements and ensuring timely delivery during holidays. Smart companies always plan, but they cannot predict sales for every holiday coming. However, we should not forget to perform a normal inventory survey to avoid losses as inventory increases. Without proper inventory management, you can create weaknesses that can be easily exploited. It is important to regularly maintain inventory levels to reduce shrinkage and internal theft.
While it may be difficult to calculate the total inventory, increase the number of cycles or check daily inventory or weekly inventory. Be sure to take all necessary steps to protect your store as part of the increased security of holiday shopping. For example, in the warehouse, strategic points, such as monitoring signs to prevent and reduce the load area, point of sale, delivery point, tailgate, packaging and other vulnerable places have the retail security camera and accessories installed.
4. Retail system fraud and the rise of hackers
Long, crowded shops, busy employees and more and more able to do the point of elaborate fraud and hacking technology (POS) retail are becoming a hotbed of crime. Therefore, you must implement the latest security measures to protect your retail systems. To prevent fraud, always be sure to check all POS devices, PIN input devices and credit card terminals for the type of modulating device. The cover may contain missing screws, broken seals, external wires, or other labels.
You need to physically protect the POS / checkout area and protect sensitive information from snooping. To avoid unauthorized removal, use a safe stand, shelf, and security cable. You can also install a POS retail security camera to constantly monitor all point of sale, protect POS networks, and encrypt network data. Please use a separate network for guest WiFi. To make sure your POS technology is up-to-date, and to prevent loss of customer data, to enhance the security of your retail site and e-commerce store.
Make sure your retailer is safe and secure.
To anticipate security threats, take precautions and understand the risks you face. As shoppers and inventory increased for retailers, vacations became a major challenge. Business security should be a top priority, there is no better way to monitor the system is compatible with smartphones than wireless security cameras, remote view installation.
Adapted from allcadsolutions