Shoplifting already costs retailers some £2.5. billion each and every year – a combination of stock loss, paying for enhanced security and prosecuting offenders. And of course, during times of economic downturn shoplifting increases spectacularly. In fact during the last quarter, retailers are reporting anecdotally that shoplifting rates are ‘off the charts’.
Just because shop lifting is on the rise, it doesn’t also mean that other forms of stock loss simply stop either. So retailers are facing a perfect storm of decreased sales and increased theft on top of all the ‘usual’ methods of stock loss: admin errors, employee theft and returns fraud.
In short, businesses are facing a tough 2022 in terms of balancing the bottom line – is there anything you can do to reduce your vulnerability to shoplifters? Yes!
- Create a robust shoplifting policy
You need a clear set of procedures for dealing with theft and to make sure that your team members know exactly what they need to do to help. - Train your Team
Having staff that are switched on and engaged are one of the best things you can do to deter shoplifters so do your staff know what to be on the look out for? Make sure they know what security measures you have in place and train them to be proactive in recognising and preventing theft in store. - Review your layout
A disorganised shop floor is oh so attractive to a shoplifter – it’s easier for them to pocket those messy items without anyone noticing something is missing. Keeping shelves tidy and maintaining lots of space between shelving units will help and avoid dark corners that make it far too easy for shoplifters
- Signage
Research shows that anti-theft signage in store really does reduce the incidences of shoplifting. So make sure your signage is highly visible in all areas and states simply that thieves will be prosecuted as well as highlighting the presence of security cameras. - Install CCTV
The presence of cameras really are a deterrent to shoplifting: no one wants to have their nefarious deeds caught on camera. With technology improving constantly, it needn’t be expensive to install an adequate system but if that’s too much of a stretch to your budget, shoplifters only have to believe the cameras are real switched on.
- Mirrors
Clever placement of mirrors on your shop floor can be a super low cost alternative to a CCTV system. Strategically placing them around the store in corners or blind spots can increase sightlines across the store and give your staff more chance of catching a thief in the act.
Of course, there is only so much you can do as a business and the smartest of thieves will somehow manage to find a way through so it’s incredibly important for you to have a real grasp of your stock and stocktaking practices so that you can quickly identify where and when loss occurs. This early knowledge will help you adapt your practices to reduce future losses. If you need a hand implementing effective stock taking procedures, please get in touch with the Abacus team.
