Whenever there is theft in a retail establishment, it can seriously affect the store's bottom line. As of 2019, inventory shrink costs in the US retail industry totaled approximately $46.8 billion. It has also been reported that shoplifters visited three or more locations of the same retail chain, with the average cost of just one single shoplifting incident being around $559.
In this article, you will find some anti-theft devices you should consider for retail store protection and to help minimize shrink.
If your retail establishment has high-value items, then merchandising security allows customers to try out higher-end products that are safely tethered to the display. Many retailers use security stands that can easily be mounted on top of a counter. You can also use magnetic holders, physical locks, and cables.
The Use Of Smart Inventory Management Tools
Inventory management is another way to stay on top of what is happening in your retail store. Performing regular stock counts and monitoring any discrepancies you notice can help you find better ways to decrease shrink. Smart barcode scanners are just one tool retailers use to keep more accurate counts of their current inventory.
The Use Of Anti-Theft Signage
Sometimes, it helps to inform customers that they are being watched and that you do not tolerate shoplifting. Having the right signs throughout the store can be a great deterrent for theft.
Cameras, Video Surveillance, And Analytics
Having a high-quality surveillance system and security cameras in and around your establishment can also go a long way in preventing theft and other crimes. Have your security cameras installed in key areas throughout your property.
Use software that can detect suspicious movements, and get a security system that will notify you if something were to happen. Some retailers have also begun using facial recognition technology, which makes it much easier to identify thieves.
Electronic Article Surveillance
Also known as EAS tags, these can be placed on each of your products. When it is not deactivated at checkout, an EAS tag will cause electronic sensors at the front of the store to go off to alert store employees. You can choose from different EAS types, including tags, labels, and spider tags.
The combination of radiofrequency and electromagnetic technology as well as metal detectors helps you spot shoplifters as soon as possible. Ultimately, this helps protect your bottom line and keeps your items where they should be.
What kind of security measures have you already implemented in your retail establishment? In addition to the anti-theft devices we’ve mentioned, you should consider conducting employee training on how to identify and deal with a shoplifter.
For more information on security measures and devices for your retail store to help reduce shrink and protect your investment, contact our team of experts at Supercircuits today. We can walk you through all of the security options available to you to ensure that you have a reliable, top-of-the-line security system in place for your business.