Loss Prevention Security Tips for Retail Segment
Shoplifting can have a crippling effect on retailers and small businesses — after all, inventory shrinkage costs the Canadian retail industry billions of dollars every year. It’s imperative to be proactive when implementing retail loss prevention methods and strategies. Here are our top five tips to prevent retail shrinkage in your store this year:
1. Revise Your Store’s Layout
One of the easiest ways to protect your store from theft and crime is to organize your store in the best and most effective way possible. Some simple ways to do this are to install adequate lighting, have bells that ring when customers enter and exit your store and utilize an elevated sales counter for better visibility. When determining the placement of items in your store, it is always a good idea to place the more expensive, valuable items closer to the checkout counter so you or your employee(s) can easily keep an eye on them without straying too far from the sales counter.
2. Install CCTV Cameras
When your employees are on shift, you want to ensure that they can focus on their job and maximize their own operational productivity. Security cameras or closed-circuit television (CCTV) cameras are great assets as they allow you to keep a watchful eye over your entire store – even when you or your employees are busy with customers.
3. Run Security Checks on All Incoming Staff
When you’re running a business, the last thing you should be worried about is the people you have hired to interact with your customers and protect your assets. Unfortunately, sometimes employees’ intentions deviate from store policies and procedures and these deviations can be devastating for business owners. Running security checks on all incoming employees can save your business time and money in the long term, allowing you to spend more time running your business and less time worrying about your employees. Another way to keep an eye on all staff is by checking all belongings prior to staff ending their shift – this ensures that all staff understand the policies and consequences in place prior to making the decision to steal from your store.
4. Implement Inventory Control & Tracking Procedures
With the ever-changing and evolving technology landscape, inventory tracking has become an increasingly popular tool within retail environments. Inventory tracking allows you to keep real-time track of the items coming to and leaving your store – without as much risk for human error. When you use a POS system it allows you to keep an accurate count of your inventory as soon as it reaches your store; these systems make tracking easier and reduces retail loss due to human error.
A POS system can also help employees spot fraudulent returns and ensure customers are complying with your store’s return policy. You’ll also be able to identify ongoing issues with shoplifting by regularly reconciling your POS system with what’s actually in stock.
5. Enhance Your Customer Service Efforts
By increasing the interaction your staff has with incoming customers and ensuring your customers are aware of your staff’s presence at all times, you are automatically deterring theft in your store. Make the most of your store’s strategic layout by training associates to be attentive while on the sales floor. This means training your staff to greet each customer as they arrive, make eye contact with all customers while they’re in the store and engage customers in conversation. These tactics will not only prevent retail shrinkage but also enhance your customers' experience within your store and make them more likely to return – it’s a win-win!
While implementing security measures and policies is of utmost importance to deter retail theft, the best way to stop retail theft and implement loss prevention policies is to hire professionally trained security guards.
As a leading Vancouver security company, IntercomLux is committed to providing premier security services to a wide range of clients in the Lower Mainland. If you’re looking for retail security in Vancouver, look no further than IntercomLux – our team of highly trained professionals will work to enhance your pre-existing business environment while protecting your most valuable assets.
Contact our team today for a complimentary quote and business signage package to start saving your business from retail shrinkage.