The Value of Retail Security
All retail stores face the potential of theft. Whether it’s employees who skim money, or a shoplifter who conceals merchandise in a purse or oversized jacket, theft leaves business owners scrambling to recover the cost of lost inventory, and protect profits.
However, with the right retail security systems in place, business owners and corporations can combat theft and better protect the profitability of the business.
Some benefits of a retail security system include:
Deterring Criminals
Shoplifters are always looking for an easy target. They want to find a business with minimal security measures in place, since it makes their job painless and reduces the likelihood that they will be caught. Making your patrons aware that advanced store security systems are present, and that your establishment will prosecute should theft occur, lets any potential lawbreakers know that your property has been safeguarded and that illegal activity will not be tolerated. In fact, 60 percent of criminals said that the presence of a retail store security system would cause them to choose another target. So, if curbing the interest of shoplifters is important to you— investing in retail security is a must.
Holding Employees Accountable
As disheartening as it may be to hear, 30 percent of all retail theft is carried out by employees. Because of this, business owners need to invest in retail security services not just monitor their customers, but to monitor the people who work for them as well.
InVue’s OneKEY ecosystem and Access Manager use industry leading security and technology that increases accountability among employees and helps retailers keep a more watchful eye. With in-store visibility and analytics, you can monitor and manage associate interactions through the Access Manager interface. Now you can know who is doing what, where and when within a given store, department, or even a specific fixture.
Stronger Legal Defenses
When illegal activity takes place in a retail establishment, the onus is on the business owner to prove that a crime has taken place. Retail security systems provide store owners and managers with an added layer of protection, allowing them to refer to camera footage, or the presence of anti-theft devices, to prove that offense has occurred.
Improved Customer Experience
While retail security largely focuses on deterring theft, there are also great benefits in terms of providing a great customer experience. With InVue’s OneKEY, you can safely give every associate a key to improve customer service and dramatically boost sales. This single key access solution empowers employees to better serve customers and reduces wait times.
Security Strategies
In addition to investing in cutting-edge retail store security systems, there are also a myriad of strategies business owners can use to deter shoplifters and protect their inventory. When retail security systems are used in combination with these prevention methods, the probability of theft decreases dramatically.
Some of the loss prevention strategies business owners can implement include:
- Using mirrors to eliminate blind spots within the store and increase visibility
- Implement in-store analytics like InVue’s Access Manager and Insight which help monitor associate interactions with merchandise and locked cabinets and drawers
- Remove traditional mechanical keys and replace with a single, infrared OneKEY
- Posting signs with statements such as “Shoplifters Will Be Prosecuted” in highly-visible areas within the store
- Keeping more expensive items in locked display cases that must be opened by an employee
- Place small or easily concealed items near the cash register or within eyesight
- For consumer electronics, secure merchandise on display with products like InVue’s Zips or OnePOD
- Secure hanging merchandise with products like locking hooks, or push button dispensers like the T1000
- Regularly offer loss prevention training to employees
- Use merchandise security devices like RFID tags, in conjunction with multi-alarm security solutions like Cable Lock, which cause an alarm to ring should a customer try to leave the store without paying for an item
- Consider hiring a security guard if your store receives a lot of traffic and employees are unable to effectively monitor patrons as they come and go
- For clothing stores, have an employee positioned near changing rooms at all times
- Regularly greet customers as they enter and make eye contact to let them know you have seen their face
When employees and business owners maintain a vigilant approach to loss prevention, while simultaneously investing in top-of-the-line retail security systems, criminal activity instantly becomes difficult to execute, making the business less vulnerable.
The Proof is in the Numbers:
When a retail loss prevention system is used along with other proven methods of deterring criminals, optimum results can be achieved. Here are some eye-opening statistics that highlight the efficacy of retail security systems and loss prevention strategies:
The data above demonstrates the importance of retail anti-theft systems, and the dramatic results they can produce when executed correctly.
Are you interested in learning more about the retail loss prevention systems InVue has to offer? Contact us today for more information regarding our innovative merchandising, software, and security solutions.
